If you look at your market, you will notice that there are a lot of companies in your field that individuals can choose from, whether on the internet or physically. This is the same in any other market and poses the issue of customers having to choose which brands to do business with.
However, we’ve observed from successful businesses that the best way to market your business and build customer trust and confidence is to give your brand a strong identity that would connect with your customers. And to build a solid brand identity, you need a good business name.
Giving your online store or physical business a name that reflects the experience it offers and its expertise in the field while being distinctive and fascinating is a very straightforward method to build a strong brand identity.
A great company name helps your company stand out from the competition by effectively defining your business’s goals and personality.
And to help you come up with excellent business name ideas, we’ve put together this easy guide.
Table of Contents
How to Pick the Best Business Name in Three Easy Steps
1. Clearly Understand Your Company’s Branding
The most important parts of your business’s brand are its tone, emotions, and image, which influence how customers relate to you and your products and decide if they’ll prefer your brand over others.
Because your business name must be consistent with your brand, think about the goals, identity, tone, and emotions you want your target audience to associate with your business.
- How does the brand appear and feel?
- What do its values include?
- What mood does it portray?
- What feeling does it hope to arouse in its audience?
When you’re aware of these components, you will be much more prepared to begin a thorough business name process. It doesn’t matter if you choose to use a business name generator or a company naming service.
Knowing your brand will keep you on track in the naming process and make finding a name that would work for your brand easier. Building your brand is very important in the naming process, and you have to do it before you can start looking for a name to represent your business.
2. Start Looking for Potential Names
Make a naming brief that describes the tone and ideas you want your name to denote for your business. If you have a naming team, show it to them and ask them to help you come up with intriguing names that accurately capture the core characteristics of your company.
Your goal should be to come up with 200 unique, memorable, and acceptable name ideas for your business. No matter how dumb or unusual the words appear, resist the desire to disqualify ideas that come to mind during the brainstorming session.
Doing so could stifle the flow of inspiration, and writing off ideas without evaluating them would prevent you from seeing their potential.
To assist you in coming up with ideas, we recommend you use the following resources:
- A thesaurus and a dictionary
- Company name generators
- Keywords in your niche
- Words relating to color
In the following stage, you will carefully assess each of the names you came up with throughout this brainstorming session. For this reason, it’s important to have a range of options.
3. Analyze the Possible Names
You will have 200 or fewer potential names after your brainstorming session, all of which have an equal chance of becoming the name of your company. After ruling out the names that don’t fit your brand well, you will arrive at a list of your top names.
However, before choosing one of your top suggestions to serve as your company’s name, assess your top choices to see which ones satisfy these essential validation criteria:
- Ratings and Feedback from Clients: This assessment is crucial since it demonstrates how well the name draws in your intended market.
Conduct surveys and ask people in your target demographic what they think about your name ideas. But since your preferred name may not be the same as theirs, make sure not to get attached to any name ideas you have.
- Presence of a Great “.com” Domain That Matches the Name: Given the significance of the internet in today’s market, choosing a name for your business that restricts the use of other online branding elements will put your brand at a disadvantage.
Verify whether the potential brand name options you are thinking about have a related domain name and social media handles that are both obtainable.
- Trademark Status of the Given Name: One effective method for avoiding future damaging legal problems involving trademarks is to register your business name as a trademark with the USPTO.
We advise new business owners who may find the trademarking procedure difficult and frustrating to get legal advice from a trademark attorney.
When the validation process is done, choose the name that ranks highest, and you can guarantee long-lasting benefits for your company.
Getting the perfect name for your business remains one of the essential aspects of starting one. Therefore, it shouldn’t be done inadequately, as the consequences of getting the wrong name can be grave. So, now that you’ve been equipped with the right naming knowledge, it’s time to go and find the perfect name for your brand.
Grant Polachek is the head of branding at Squadhelp, a 3X Inc. 5000 company that creates short, unique, engaging, and compelling brand names for Fortune 500 brands and rising start-ups. As one of the world’s largest crowdsourcing naming platforms, we’ve researched over a million company names and compiled a thorough list of intriguing domain names available for use.