Need Help Naming? Here’s How to Find the Perfect Name for Your Business in 5 Steps￼
This is a guest post from Grant Polachek – see his bio at the end…
The entrepreneurial journey is an absolute mess; there’s too much to do, too much to learn, and an unforgiving market that often doesn’t give brands a second chance to correct their mistakes. Starting a great business is complicated, and the process is worsened by the immense pressure to outperform other startups.
It might surprise you to learn that only 10% of startups ever make it past their startup phase, and only 1% ever become successful. Businesses everywhere are searching for anything that’d give them an edge.
But inasmuch as they’re searching for an advantage, many tend to ignore getting a great brand name for their business.
Solid brand names offer startups an opportunity to achieve instant exposure, and that’s why every startup that hopes to succeed must find the best name for their company. And we can help you do that.
Why your Business Needs a Great Name
We’ve seen massive brands like Datsun become Nissan; Blue Ribbon Sports become Nike; Burbn become Instagram; ActionWeb become eBay, and Cadabra become Amazon.
The list is endless, and interestingly, this move always preceded a boost in their performance.
And if you’re wondering why these brands changed their names, the reason is simple: they were looking for the right name because bad names stifle growth while the perfect name helped boost their business by:
- Attracting their target customers: The perfect name is memorable and can help your business stand out from the crowd and capture your target customer’s attention.
- Deeply connecting with their customers: A great name unites your brand to its customers personally.
- Attracting a great team: Strong brand names increase your brand’s appeal, which attracts exceptionally talented employees.
- Increasing referrals: Great brand names are easier to recommend.
- Boosting sales: The perfect name would increase sales and the interest of customers in your product.
Now, let’s move on with our journey and discover how you can get the perfect name for your company.
5 Steps to Getting the Perfect Name for Your Company
- Getting a Clear Understanding of your Company
Every industry is unique, and every successful company is different. So, if you’re going to start your company, then you need a thorough grasp of your business, your clients, and your competitors.
To build an exceptional business, you must begin by making a list of all your business’s core principles and meticulously selecting the most crucial ones. With this, you’ll get a complete understanding of the possibilities, your limitations, and a better perspective on everything you need to win the hearts of your audience.
The perfect brand name would help your company find its brand identity because they’re crafted from powerful brand visions. And everyone knows that naming a business with rock-solid vision is much easier than naming one with a vague and lifeless ideal.
- Knowing the Best Tone for your Brand Name
The tone of your brand’s name sets the mood for its interaction with your audience. Know that if your brand fails to connect with your target audience deeply, it loses its power. That’s why it’s important to craft the perfect tone for your brand.
While other elements of your brand express your company to its audience, your tone creates that connection between business and customer. It conveys attitude, intent, emotion, and how you want your audience to perceive your brand.
To get the best brand tone for yourself, begin by knowing your brand’s position and let that guide you to the right tone of choice for your business. Your brand’s tone can be:
- Discover your Brand Elements
The best way to breathe life into your brand is to identify your brand’s elements. And that involves knowing your company’s main ideas, values, goals, the feelings you intend to trigger in your audience, the benefits customers would get from you, and your brand’s value proposition.
By digging deep into your branding elements, you’d get a better understanding that can help you communicate your awesome business to interested customers.
- Prepare a Project Statement
Preparing a project statement will help you get a clearer picture of what your name should accomplish. This would help you keep things in context while brainstorming.
Here’s a great example of a project statement:
I’m looking for an exciting name for my food delivery business that aligns with a younger crowd and signals speed, health, and dedication.
- Brainstorm: Put your Creativity to Work
In the naming process, brainstorming an excellent brand name is inevitable. It’s almost like a rite of passage for entrepreneurs.
And although brainstorming can be very demanding, it doesn’t have to be all doom and gloom. You could lighten the load and make the process fun by getting a team involved.
Show them your research, brand elements, and project statements. Discuss your ideas with them, and encourage them to craft the most exciting and creative names they can think of. They shouldn’t be afraid to experiment with modern or metaphorical words because customers enjoy wordplay.
But if you’re falling behind on your schedule and working with a team isn’t your thing, then consider using a strong company name generator.
Every brand name must resonate with its target customers. And that’s why it’s critical that you test your name with an audience to see how well it’s received. Remember, brands succeed because customers love their names.
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.
Shawn Kinkade Kansas City Business Coach