The name of your business could have a big impact on customers
After grammar gripes, a memorable business name is the second most compelling factor when attracting custom (87%), followed by a link to UK heritage in the name (72%).
Family businesses are an important part of UK culture and the Barclays poll found that almost two thirds (64%) of consumers admit they are more likely to buy from a family named business. For shoppers in the West Midlands this increases to three quarters (76%).
Regional loyalty also proved an important factor for 57% who say they are more likely to use a business named after its location. This is particularly prevalent across some of the UK’s major cities, with three quarters (76%) of those in and around Bristol more likely to spend their cash at businesses named after the city, followed by over two thirds (69%) of consumers in and around Newcastle preferring businesses named after local references.
The research also found that businesses with references to the monarchy or those that contain a pun in their name are less likely to attract custom, appearing at the bottom of the poll. Two thirds of consumers (76%) would be put off from using a business with Royal references, and three in five (60%) would be less inclined to shop at companies with puns in the title.
Adam Rowse, Head of Business banking at Barclays said: “When starting a business, the naming and branding process can be very influential for future business success- it tells consumers everything they should know about the business and first impressions count. In some cases the name continues for generations.
"Our poll shows that it’s important not to overlook the finer details such as grammar or spelling which, if incorrect, can be detrimental to trade. Businesses that demonstrate their UK heritage resonate well with consumers and we know the value that Brand Britain has on both domestic and overseas spend. Staying front of mind with a memorable name can also be a winning ingredient for business growth.”
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