If you’re a fresh entrepreneur and have just recently begun your journey into business, we’ve got some news for you; there are many things you need to learn, understand, and apply.
Creating a business is a tricky affair, and most inexperienced entrepreneurs end up making wrong moves that destroy their companies. And one of the wrong moves they make is choosing a weak brand name.
Everyone who’s ever built a business from the ground up knows that coming up with the perfect name can be a lengthy and mentally draining process.
But there is a way to simplify it so you don’t have to waste valuable weeks and months searching for an ideal name. Here’s a simple guide we prepared to lead you on the path to the perfect name.
Why Every Business Needs to Find the Perfect Name
One of the most critical tools your company needs to succeed in the long run is a great brand name. That’s because the perfect name leaves a lasting impact on your customers. It gives your customers a quick impression of your brand’s worth.
An excellent name would not only boost your company’s ROI but also assist your company in achieving its goals. And if you want your firm to stand out, swiftly win the hearts and minds of your target audience, and achieve good success, then you’ll need a powerful brand name because it can help your company:
- Attract committed customers
- Create an emotional bond with customers
- Attract the best employees
- Create excitement in the industry
- Boost customer referrals
- Improve the sales of your products
- Minimizing the cost of advertisement
But knowing what your business stands to gain from finding the perfect name would mean very little if you don’t know what exactly makes a brand’s name perfect. So let’s explore the qualities of a perfect name.
The Qualities Every Company’s Name Needs
When searching for a great name, it always helps to know that what makes a name the best fit for a company is that it C.A.R.E.s.
And for a name to CARE, it must:
The ideal name is both descriptive and contextual. It acts as the company’s beating heart, supporting and setting the tone for a variety of important areas of your business.
Assessing your company’s potential market influence will be easier if you put your name in context by examining its potential strength in the market through the lens of your company’s brand, positioning, and objective.
The perfect name is appealing and will spark customer’s interest in your company, motivating them to tell their friends, family, and coworkers about it.
But don’t be one of those business owners trying to stand out by choosing names that are difficult to pronounce, spell, or have minimal appeal with their target market.
Perfect names are all memorable and stick in the minds of those who hear them, making it easier to promote these brands. As a result, pick the greatest brand name for your business because it will help you grow and survive.
To have the greatest impact, your company’s name must draw a strong emotional response from your target audience. So, make sure your company’s name evokes a favorable emotional response or prompts a thought that is related to your brand’s message. The finest company names produce a strong positive emotional response from their target audience.
With that said, let’s get into how you can find the perfect name for your business.
How to Find the Perfect Name for Your Business
Know what You Want Your Business to Be
If you want to start a business that provides outstanding services then you need a solid understanding of your business and its products. You can do that by assembling all of your company’s key concepts and selecting the most important ones.
Now, understand that excellent brand names are born from strong brand visions, and that’s simply because naming a good concept is much easier than naming a mediocre one.
Also, get a strong understanding of what works and what doesn’t because it’d help you determine what your business must accomplish to win your customers’ hearts.
Find Your Brand’s Tone
Understand that a name loses its power when it fails to connect with its target audience emotionally. And this frequently occurs because the tone of the name does not resonate with the target demographic.
Make sure you understand who your customers are, what they love, the issues they’re facing, what your company offers, and why they should be interested in using your products because your brand’s tone has a direct impact on how your customers perceive it.
While you’re here, look into your competitors’ products and find out what they provide and how your brand can outperform them with superior products and services.
Identify Your Brand’s Elements
Don’t just consider your brand’s tone; also consider your branding elements. Concentrate on establishing your company’s core ideas, the emotions you want to evoke in your audience, your values, goals, and the advantages your audience will gain by patronizing your brand.
Why? Because you’ll use parts of this information to create a list of words that aligns with your brand when you start thinking of names for your company. Your brand elements play a crucial role in helping you choose the name of your company.
Prepare a Project Statement
Making a project statement will assist you in deciding the best name for your company because it’d give you a better idea of what your name should accomplish.
Here’s a nice project statement example:
I’m searching for a name that expresses brilliance, intelligence, and competence for my IT firm. It should be strong, catchy, and appeal to working mothers.
It’s time to let your imagination run wild and generate words that fit your project statement. And to make the naming process faster, get a team together, describe your brand, its elements, tone, and project statement.
Encourage them to look through dictionaries and thesauruses and generate the craziest and most innovative names they can.
Your team should not be hesitant to use names that are modern, fascinating, or symbolic. Customers love wordplay, so coming up with unusual word combinations could be your brand’s winning technique.
But if you don’t have a team and coming up with a unique name sounds difficult, then a powerful company name generator is the way to go.
Test the Name
After brainstorming, you should’ve found at least six names that fit your brand’s mission, vision, and goals. But even if it seems like the simplest thing to do right now is to pick one at random, don’t do so without first testing it to ensure it is:
- Easy to Say and Spell: Choose a name that sounds pleasant when said aloud to avoid confusing your customers. Also, double-check that your customers can spell it after hearing it just once.
- Has a .com Domain: The ideal name must include a .com domain, as well as social media handles to all of the major social media platforms so you can communicate with your customers directly.
- Scalable: The name must be able to grow with your company and remain relevant to your company’s branding and marketing.
- Audience Tested: Your ideal name must pass the Crowded Bar Test. Your customers must love it, and the only way to know for sure is to test it with your target audience demographic.
- Unique: The perfect name for your brand name should not be similar to the brand name of a competitor. Check the United States Patent and Trademark Office to ensure your name is unique and hasn’t been taken by another company.
Get Professional Help
We’ve seen companies squander months looking for a brilliant brand name, ignorant of the fact that the business world moves quickly and competitors are always advancing their game. So, if you find yourself stuck after hitting a creative roadblock, don’t hesitate to seek assistance from a professional brand naming agency.
These firms have a lot of experience generating outstanding and lovable brand names for huge corporations that connect with their audience, and they’d be more than happy to assist your company in finding the perfect name.
Grant Polachek is the Head of Branding at Inc 500 company Squadhelp.com, the worlds #1 naming platform, with 30,000+ customers from early-stage startups across the globe to the largest corporations including Nestle, Philips, Hilton, Pepsi, and AutoNation.