How to Pick on a Great Business Name That Will Help Your Company Shine
Entrepreneurs often make lethal naming errors because they cannot carefully consider all the naming possibilities. And most times, this happens because they are unsure of what their company and audience need or how to achieve it quickly.
While some could argue that these errors occasionally lead to the right brand name, the majority of new businesses cannot afford to suffer the consequences of having a poor brand name.
Yes, a catchy, unique name will set your company apart in the minds of your customers but finding one isn’t as easy as it sounds.
Luckily, we’ve got your back. We’ve offered top-notch naming services to over 35,000 business owners, and today, we’ll show you a straightforward guide for coming up with memorable company name ideas.
Ready? Let’s get into it.
Five Guiding Steps to the Perfect Company Name
1. Know Your Company
To create a memorable brand name for your company, you must first identify your mission. And the quickest and most straightforward way to do this is to put your business’s core aims, objectives, and vision on paper.
These ideas must encompass all that your company aspires to be and achieve.
Once you’ve identified these fundamental principles, make sure they are condensed into simple words that resonate with your target audience. The next step is selecting a few of those words that most precisely characterize your business. The core of your company’s brand name will be shaped by these words you’ve chosen.
2. Build an Appealing Tone for Your Brand
Every company’s performance is impacted by the tone of their brand. A powerful and alluring tone will bring in more customers, whereas a weak and generic tone will reduce your customer base.
Setting a tone that is consistent with your brand’s goals will have a big impact on how your consumers see your company.
And yes, researching your target audience and getting to know their personalities and basic needs remains an excellent way to get the richest tone that’d connect with them.
3. Craft Your Company's Branding Elements
The brand elements play a significant role in your company’s personality and can impact your naming process.
Customers will find it challenging to grasp and relate to your brand if your branding elements are
not in accordance with their desires.
So, as an entrepreneur, set aside time to investigate the core characteristics of your company
because they are crucial for coming up with a unique name.
The quickest and easiest way to do this is to become familiar with your company’s:
- Big ideas: What are the principles that your company honors?
- Values: What are the ethical and legal standards of your company?
- Story: Are there any captivating stories about your firm that you could tell your
- Benefits: Do you offer any special privileges to your clients?
- Emotions: What emotional reaction do you want your clients to experience when
connecting with you?
- Value Proposition: What differentiates your company from that of your competitors?
4. Construct a Project Statement
Create a comprehensive project statement detailing the sort of name you want for your business using all the information you have learned so far about your brand.
Pay attention to the ideal traits you want in your company’s name.
After coming up with your project statement, the next thing you need to do is to start crafting words that satisfy your naming needs and align with your business and customers. One way to make the brainstorming process much easier is to draw inspiration from dictionaries,
thesauruses, rhyme books, or explore ideas through Squadhelp’s business name generator.
But if brainstorming alone becomes too challenging for you, we advise you to assemble a team, assess your company’s naming needs or project statement with them, and then start brainstorming jointly.
Doing this will make it easier to find unique and appealing brand names.
Verify and Trademark Your Name
Once you’ve selected a few words that are appropriate for your company, run them by a small sample of your audience, your objective should be to come up with one that people will appreciate and remember.
Examine your potential name and, if it appeals to your target market, get it trademarked with the USPTO to prevent anyone else from using it.
Grant Polachek is the head of branding for Squadhelp.com, 3X Inc 5000 startup and disruptive naming agency. Squadhelp has reviewed more than 1 million names and curated a collection of the best available names on the web today. We are also the world’s leading crowdsource naming platform, supporting clients such as Nestle, Dell, Nuskin, and AutoNation.