Imagine you've finally devised a brilliant answer to a big issue that impacts many people. And, after considerable thought, you decided to turn this idea into a business.
But there's a catch: your unique solution needs a catchy name to go with it. So you get to work and try out a few words, but none of them seem to really convey your company's concept.
Even the names you did find lacked matching URLs, making them high-risk in the trademark attorney's eyes.
Every day, countless entrepreneurs struggle to come up with a great brand name. So, to help you choose the perfect name for your business, we'll walk you through this tried-and-true method that has helped hundreds of entrepreneurs create unique and intriguing brand names.
This is Why You Must Find the Perfect Brand Name
One of the clearest indicators that business is becoming increasingly unpredictable for new startups is that 20% of all startups fail within their first year.
Unfortunately, with over 4.35 million new businesses established in 2020 and 2.81 million new enterprises established in the first and second quarters of 2021, things aren't going to get any simpler.
Also, with the typical customer getting over 10,000 brand messages from startups and big corporations each day, your company is doomed to forever struggle with competitors unless it gets a solid brand name.
So, make sure you find a powerful name because it can strengthen your business by:
- Giving your company a unique identity
- Regularly attracting your target customers
- Enhancing your brand's credibility and customer loyalty
- Helping your business stand out from competitors
- Assisting you in attracting the right employees
Four Steps to Finding the Perfect Brand Name
Even though you've uncovered a big idea that'll revolutionize your industry, your startup is destined to fail if you don't get a strong brand name.
So come with us as we walk through these four simple steps that’ll lead you to the perfect brand name for your business.
1. Envision the Future of Your Startup
The first step to finding a great name is to have a clear mental picture of what you want your business to be in the future because it’ll shape every idea you generate about your company’s brand.
Also, ensure you gather lots of information about your business and its industry because it’ll help you choose a name that embodies all aspects of your business.
While gathering this data, study your competitor’s brand, services, values, and goals. This way, you can determine what works, what doesn't, and what it’d take to win over your target customers.
Next, go through the data you've acquired and decide your business's identity and what image you want it to portray. Doing this will help you understand the fundamental principles, visions, and values of your brand.
Now, refine the ideas you've gathered until you find a few that best match your company’s core principles. Identifying these qualities can assist you in selecting a name that is consistent with your brand.
2. Choose a Great Brand Tone for Your Company
The best approach to finding a name that symbolizes your company's core principles is to ensure that it has the appropriate tone and evokes the right emotions in your target market.
Choosing the correct tone will help you solidify your brand's identity and significantly influence how people perceive your business.
Consider your target demographic, what draws them to you, and why they should care about your brand. Understanding your target customers can help you decide if your brand's tone should be:
- Practical and Pragmatic
- Modern and Innovative
- Emotionally Impactful
- Amiable and Inviting
3. Establish Your Company's Secondary Branding Elements
Although selecting the correct tone is crucial, your company's secondary branding elements are what will establish your brand’s image. They symbolize your brand's identity and will properly guide you when it comes to naming it.
So, grab a pen and paper and scribble down your views about your company's:
- Big ideas: What are the key principles that drive your company?
- Brand values: What are the personal or audience values that drive your organization?
- Story: Is there a story that you can relate to your brand?
- Benefits: What distinct benefits do you provide your customers?
- Emotions: What strong emotion do you want to stir in your audience?
- Value proposition: Why should customers pick your brand over its competitors?
Identifying your brand's elements will help you create a genuine and valuable brand with an identity and personality that’d be interesting to customers.
4. Brainstorm: Search for the Perfect Name
It's time to let your creative imagination go wild and generate unique and distinct words that match your company's naming needs.
Take some time to examine dictionaries, thesauruses, and other materials for compelling words that express your company's core values, identity, and personality. The objective here is to generate a list of five to nine ideal brand names for your business.
While you’re at it, keep an eye out for short, exciting, modern, intriguing, metaphorical, or symbolic words.
We know that brainstorming is tricky and time-consuming, so if you're having difficulty coming up with great business names, feel free to use a powerful business name generator.
Put Your List to the Test and Pick the Best Name
Understand that the procedures outlined in this article will assist you in generating a list of three to nine names that fit your organization’s needs. Now, test these names with a small sample of your customers to see whether they like them.
After you've tested your names with an audience, pick the best one and double-check it with the USPTO to ensure that another company hasn’t already registered it.