Let’s say you’ve finally discovered a brilliant idea that solves a very big problem for a lot of people. And after thinking long and hard about it, you decided to turn this idea into a business.
But, there’s a problem, you need to represent your brilliant idea with a great name. So, you get to work and try many names, but they don’t seem to capture your business idea perfectly.
Even the names you did find didn’t have matching URLs, and the Trademark attorney considers them high-risk.
And after several weeks of frustration, you become worried because you don’t know where to start and don’t have a system in place to help you come up with the perfect business name.
Finding a great brand name is something that many entrepreneurs struggle with. So, to help you find the best name for your business, we’ll share with you the tested process that has helped us find unique and exciting names for over 30,000 clients.
But first, you need to have a clearer understanding why your products and business need the perfect name.
Why Every Entrepreneur is Looking for a Great Name
The reality is that 20% of companies fail in their first year, and that’s a clear sign that the business world is becoming really unstable. And yes, it doesn’t help that over 4.35 million businesses were born in 2020 and 2.81 million businesses in Q1 and Q2 of 2021.
Now, given that the average customer receives over 10,000 brand messages each day from both startups and established companies, your business will be drowning in competition if it does not get a perfect brand name.
And that’s because finding a great brand name would:
- Give your business a distinct personality
- Make your company stand out from the crowd
- Attract your target customers
- Encourage brand loyalty by making it easier to build brand-customer trust
- Help you in attracting high-quality employees
Here are 4 Ways You Can Get the Perfect Name for Your Business
- Visualize Your Brand
The first step in picking a name that incorporates all aspects of your business is to gather enough information about your company and industry.
So, start by learning as much as you can about your target audience, competitors and industry. Dedicate time to understand your customers and study your competitor’s brand, services, values, and objectives.
This information will help you figure out what works, what doesn’t, and what it takes to win the hearts of your target audience.
The next step is understanding and visualizing the future of your brand and the image you want to create. So make sure you have a complete grasp of your brand’s core principles, visions, and values.
Now, take these ideas you’ve gathered and distill them until you’ve discovered a few that best represent your company’s fundamental principles. These fundamental principles would help you know the ideals your name should communicate.
- Choose the Right Tone for Your Business
The best approach to come up with a name that reflects your company’s fundamental principles is to make sure it has the right tone and triggers the appropriate emotions in your target market.
The right brand tone may help you develop your style while also influencing how people perceive your business. Take, for example, Gucci and Fossil. Gucci is loved by customers searching for high-end accessories, whereas Fossil is preferred by customers looking for products with long-lasting durability.
So, think about who your target market is, what draws them to your business, and why they should be interested. Knowing who you’re talking to can help you decide if the tone of your brand’s name should be:
- Recognize Your Brand’s Secondary Elements
Although picking the appropriate tone is critical, it’s your secondary branding elements that’d define your brand. These elements embody your brand’s identity and will point you in the direction of finding an excellent brand name.
So, grab a pen and paper and jot down your views about your company’s:
- Big ideas: What are the major concepts that govern your company?
- Values: What are the personal values or audience values that drive your company?
- Story: Is there an interesting story behind your business that you can tie to?
- Benefits: What unique benefits do you provide your customers?
- Emotions: What strong feeling(s) do you want your viewers to feel?
- Value proposition: Why should customers choose your brand?
Knowing your brand’s elements would help you create a practical and realistic brand personality. Always remember that the only way to make your brand a reality is to keep cultivating it.
It’s time to explore your creativity and start brainstorming for new and unique brand names that match your company’s needs.
While brainstorming, go through dictionaries and thesauruses for intriguing words that reflect your company’s core principles and identity. The goal here is to come up with as many names that align with your business.
So keep an eye out for short, intriguing, innovative, modern, thrilling, metaphoric, or even symbolic words that meet your brand’s name criteria.
But if you’re having difficulties brainstorming great business name ideas, then your best option is to use a strong business name generator.
Examine Your List for the Ideal Name
If you followed the procedures in this article, you should have a list of three to nine names that match your company’s requirements. Now, the next stage is to put these names to the test on a small sample of customers to see how they react.After you’ve tested your list with an audience, choose the best name and double-check it with the USPTO to ensure another business hasn’t already registered it.