After creating a great concept and a decent business strategy for a specific sector, the next most important step in starting up a successful business is to find the perfect name for your business, company, and its products.
Your brand and products are why customers are drawn to your business in the first place, and they are of equal importance since they have the potential to make customers keep coming back to you. A good product with a poor brand wouldn’t be as successful as one with an outstanding brand identity.
Whether you decide to brainstorm or buy company names that align with your brand identity, understand that choosing the right name is the most important factor in giving your company an appealing tone and determining whether your company or product will prosper or fail in the market.
So, to help you with this vital task, we’ll be showing you three simple paths that’ll guide you through selecting excellent names for your business.
Also read: Fundamentals & Roles of Building A Business Function [2022]
3 Quick and Easy Steps to Find the Perfect Name for Your Business
1. Understanding Your Brand
While naming your company, note that your brand is the most crucial element to consider. Before developing a name to represent your business, examine the values, identity, tone, and emotions, you want your clients to have toward your company.
Your brand’s tone, personality, and image are the most significant aspects of your business since they influence how people relate to you.
Your brand name should represent your branding elements, similar to how Amazon’s name communicates the ideal image in the minds of customers.
When you’re done building your brand and have a clear picture of it in your mind, the next step is creating a name that matches it.
2. Begin Trying to Find the Best Brand Names
It’s time to start your ‘name-storming’ process. If you have a team of people who can assist you in generating names, give them a summary of your brand, along with its tone and values, and ask them to help you generate company name ideas that meet your naming requirements.
Your objective should be to come up with up to 200 memorable business names that are short and appealing while accurately expressing your brand. No matter how strange or peculiar they appear, resist the need to criticize the names you come up with.
Use the resources listed here to help you and your team generate ideas:
- Dictionary and thesaurus
- Business name generator
- Color-related words
- Industry slangs
- Rhymes
The massive number of names generated during the brainstorming process will offer you a vast number of good alternatives to evaluate when you extensively check each of them in the final step.
3. Examine the Suggestions
After your brainstorming, you should have 200 or fewer name ideas with an equal chance of describing your company to your market and audience.
Make a list of your most promising options, but before you pick one as your business name, put them through a validation process with these criteria.
- Reviews and Ranking: One of the most important criteria for any name option to qualify as a good fit for your business is to be able to capture the attention of your target audience
The effectiveness of the name in getting your audience’s attention can be checked for polling and soliciting input from a subset of your target demographic, which may include family, friends, clients, and even strangers.
- Availability of a Suitable ‘.com’ Domain Name: Since the internet has become such an essential component of modern businesses, your company name must have an identical domain name, a strong social media presence, and a great-looking website. Make sure you can gain access to these before choosing a name suggestion as your company name.
- Trademark Registration: Legal issues involving trademark infringement have caused the death of many startups and established businesses alike. But by registering your brand name as a trademark with the USPTO, you can avoid future name issues that could break your brand.
For new business owners, registering a trademark may be a confusing and stressful process. That’s why as a workaround, we recommend consulting a trademark attorney.
After scoring the names based on the following criteria, you can select the best name for your business and be assured that your chosen name would be the most beneficial one.
Conclusion
Your brand’s name is critical to its success since it helps you stand out and boosts brand profits, efficiency, and recognition.
Therefore, to attract new clients, you must choose a name that accurately portrays your brand’s identity while being captivating enough to capture their attention and encourage them to purchase from you.
