Next time you scroll through Facebook or Instagram, look how many ads you come across. There are ads for every type of product or service you can think of, but how many can you recall? Maybe not too many because of the sheer amount in the market.
Because of this, you can no longer just come up with a simple name and go with it. Instead, you have to come up with something that’s memorable and will stick in customers’ minds. And since your name is often the first thing they hear or see, be sure that it embodies everything about your brand. This aspect of launching a business is so crucial that you can hire a company naming agency to help with the process.
But while it’s crucial, the naming process doesn’t have to be complex. Our expert naming team at Squadhelp has helped over 35,000 customers, and I can tell you that to find the perfect name for your business, so that your business idea can materialise into a successful brand name there are three essential steps to follow.
#1 Create a Conceptual Image of Your Brand
The name is your brand’s most visual asset and most important factor. So, you cannot avoid creating a brand image before choosing a name.
Therefore, your first step is to focus on creative brand imagination. This is an often overlooked tool that’s extremely useful for conceptualizing your brand’s image.
- How does your brand look and feel to your audience?
- What are your company values?
- What tone will you choose to embody?
- What sort of emotion do you want your customer to associate with your brand?
Knowing how to answer these questions is a pivotal step that puts you in the perfect position to begin coming up with potential names. Keep in mind that while this step is tedious, it’s vital to know who you are as a company and how customers are supposed to perceive you.
#2 Create a List of Potential Business Names
Now you get to have a bit of fun. Get with your team, grab a whiteboard and some markets, and get creative. This step is just meant to help you gather as many name ideas as possible. So, don’t take time analyzing each one just yet.
Write down everything that comes to mind, even names that don’t seem like a good fit. The truth is that you never know where the word or words will come from. If you get stuck during the process, use these tools to help you along:
- Visual Names
- Rhyming Words
- Thesaurus & Dictionary
- Industry Slang
- Root Words
It’s also worth noting that we conducted a survey in 2021 to see if different demographics preferred pre-eminent or innovative names. We found that most younger generations prefer business names that are modern and innovative, while the older crowd likes to stick with established businesses. Be sure to ask people from all age groups for input on a name since different people have unique perspectives.
Once you have a comprehensive list compiled, you’ll need to create a shortlist. Go through and get rid of anything that doesn’t align with your values or simply doesn’t sound good. Once you complete this step, you should have a list of ten company names.
#3 Seek Validation
Everyone wishes they could sit down for five minutes, create a list of names, and find the next billion-dollar company – but this rarely happens! You must conduct several vital tests that will validate the name before you begin to celebrate.
- Audience Feedback: As we’ve discussed, your final name must align well with your target audience. You can’t expect to succeed if they aren’t crazy about the name. So, put your personal feelings aside and ask a wide variety of people their opinion.
- Domain Name: Every business needs a website. Be sure there’s an available domain name because if you cannot secure a good one, it’s best to move on to the next name.
- Trademarks: Most words carry at least some degree of trademark, so rather than spend a fortune on legal fees later, make sure the name is available, and you aren’t infringing on anyone else’s rights.
The Bottom Line
If you don’t do anything else to launch your business, be sure you put in enough time and effort to breathe personality into your company. Doing so will ensure that you choose the perfect name that’s memorable and sticks with your audience. If you fail to do this, your business may fail to succeed.
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.