Imagine you’re an ordinary person who’s always wanted to start a business. For months you ignored it, you hear people talking about starting a business, and you instantly feel guilty, but finally, you decide it’s time to do something about it.
You get yourself ready, but just when you’re about to start, a thought comes to your mind, how’d you build a business so that every customer who encounters it happily spends thousands of dollars with you, automatically?
Well, the answer lies in building a company with the perfect brand name. Your brand’s name is your business’s identity, and the first thing customers interact with before trying any of your products.
And to help you find the best name for your business, we’ve prepared this article just for you.
Here’s Why the Perfect Name is Important for Your Business
Although, unlike physical products, a great brand is intangible; but it’s the most valuable asset a company can have.
And judging by the fact that the average customer receives over 10,000 brand messages per day from startups and established brands, your business is destined to drown by competition if it doesn’t get a perfect brand name because the perfect name can help you:
- Attract customers regularly
- Encourage customer referrals
- Boost the sales of your products
- Properly position your company
- Make a powerful entrance into any industry
- Set a foundation for developing a unique brand identity
- Perform better on the stock market by 33%
Now that you know the key roles a great brand name would play in your company, it’s time to discover how you can find the best one for your business.
5 Steps To Finding The Perfect Brand Name
- Envisioning your brand
Everything and everyone we meet has a name, a word we use to give it a sense of identity. And when we communicate, those words and names become terms of reference.
And the first path on the journey to finding the perfect name that’d embody every aspect of your business is to gather enough information about your company and industry.
So, begin by researching your industry; know everything there’s to know about your competitors, their brand, products, values, and goals. Gathering this knowledge would help you learn what works, what doesn’t, and what it’d take to win the hearts and minds of your consumers.
Also Read : The Ultimate Guide in 2021 to Protect Your Brand on Amazon
The next step is to understand the future of your brand and the image you want it to project. Ensure you research and discover your brand’s goals, visions, and values. Now gather the ideas you found and distill them until you get the essential identity of your brand.
This way, you can quickly develop a value proposition and a few words that embody your brand.
- Get the Right Tone Onboard
The best way to get a name that reflects your company’s core values is to make sure it has the right tone and communicates the right emotions in the minds of your audience.
The best tone for your brand will set the stage and influence how your brand is perceived. Take, for example, Gucci and Fossil. Gucci’s tone appeals to customers who desire high-end accessories, while Fossil’s tone connects with customers who want long-lasting sturdiness and functionality.
So consider your audience, what attracts them to your brand, and why they should be enthusiastic about it. Knowing your audience would help you decide if your tone should be:
- Amiable and inviting
- Modern and innovative
- Emotionally impactful
- Find Your Secondary Branding Elements
Although finding the best tone is fantastic, your branding elements are the true substance of your brand. They contain the totality of your brand’s identity and would help you find great name ideas.
So, grab a pen and paper, and write down your thoughts on your brand’s:
- Big ideas: What are the big concepts driving your business plan?
- Values: What personal business values or audience values are powering your business?
- Stories: Is there a relevant backstory behind your company?
- Benefits: What distinct advantages do you provide your customers?
- Emotions: What powerful feeling do you want your audience to experience?
- Value proposition: Why should customers choose your brand?
- Get a Naming Criteria
When searching for your brand’s name, you must prepare a clear project statement that communicates what you’re searching for.
Here’s an example:
- I’m looking for a catchy name for my bakery that evokes a sense of creativity and community. The name should be appealing, warm, and mysterious at the same time.
- Brainstorm: Search for lots of Possible Names
It’s time to start thinking and developing fresh and distinct brand names. Also, look through dictionaries and thesauruses for strong names that align with your company. The goal is to generate a list of five to nine potential good brand names for your company.
However, while searching, look out for short, fascinating, creative, modern, thrilling, metaphoric, or symbolic words that match your brand and its naming criteria.
And if you’re having trouble coming up with amazing name ideas, don’t be afraid to use a strong company name generator.
Test your List for the Perfect Name
If you followed the steps in this article, you should have found a list of three to nine names that align with the needs of your business. The next step involves testing these names with an audience to see if they’d love them.
After audience testing, select the best one and double-check it with the USPTO to make sure another company hasn’t already claimed it.