How to Find the Perfect Name for Your Company

Posted by admin on August 12, 2021

The right brand name is critical to a company's success since it can optimize and transform it from a mediocre business into a market leader.

But that's not the only reason you need a great name for your company. Customers have a choice of tens, if not hundreds, of brands when they visit any store, not to mention the fact that each customer receives an average of 10,000 brand messages per day.

Surprisingly, it only takes a tenth of a second for the average buyer to determine which brand to prefer and which to ignore.

And any brand that must be chosen must be able to make a fantastic first impression with its name, because people first connect with a brand's name, long before they try the goods.

Companies are Embracing Powerful Brand Names

Before you make any major business decisions that’ll propel your new company into the spotlight, you must first come up with a great name because every entrepreneur who finds a great name for their business has also found the best brand identity.

To be clear, several entrepreneurs, both past and present, have realized that their business would suffer if they didn't have the appropriate name.

That’s why Jeff Bezos had to change his brand’s name from Cadabra to Amazon, and Google also had to change its name from Backrub to Google. These businesses took practical actions to improve their brand names, and today, they stand at the top.

Here’s What These Companies Achieved with the Perfect Name

Thanks to the strength of their brand’s name, these businesses were able to:

  • Get new customers regularly
  • Build a devoted customer base
  • Attract and retain talented and committed employees
  • Create an unforgettable brand identity
  • Create a sense of anticipation in their respective industry
  • Increase their sales and profitability

Now that you have a better idea of what your company stands to gain, it's time to figure out how to come up with your perfect brand name.

Here’s How to Find the Perfect Name for Your Business

Finding the ideal name for a business was simple for some entrepreneurs, tough for some, and impossible for others. But it all hinged on their ability, talent, and commitment to the work.

With that said, here's a quick guide to help you select the perfect name for your business.

Create a Mental Image of Your Company

Everyone understands that an entrepreneur's level of business success is directly related to the quantity and quality of knowledge they possess and apply.

So, if you want to produce a product or brand that will captivate your target market, you'll need to collect a lot of data on your:

  • Target audience
  • Competitors
  • Company
  • Industry

And, sure, to achieve the best results for your brand, you'll need to gather a lot of data from all of these sources.

Begin by gaining a holistic understanding of what works and what doesn't work in your market, as well as understanding your customers' expectations and balancing them with your brand's personal touch.

It's vital to remember that outstanding brand names are derived from strong brand concepts because naming a good concept is much easier than naming a weak one.

Choose the Most Authentic Tone for Your Company

The tone of a brand is the unseen magnet that affects how strongly buyers will be drawn to your name. If you don't get the correct tone, your brand will lose its power and won't be able to connect with your target market.

And the best way to get a great tone that aligns with your consumers' wants, desires, and expectation is by having a thorough grasp of your audience and industry.

Apple is just a fruit’s name, but Steve Jobs imbued the word with his brand and gave new meaning to the word. Now, Apple stands out in the tech world as a simple, elegant, and distinctive brand that thinks beyond the box.

Know Your Brand’s Elements

Although maintaining a consistent tone is important for building your brand, it is insufficient. The only way to craft the perfect name is by identifying your secondary branding elements because they’re the building blocks you'll need to craft an amazing name.

So, take your time and write down what you think about each of the key points listed below.

  • Main ideas
  • Brand values
  • Brand story
  • Benefits
  • Feelings
  • Value Proposition

Consider these elements to be the cornerstone of your brand because they can help you come up with a great name.

Start Brainstorming for Lots of Names

It's time to start searching for original brand names. Look for strong words in dictionaries and thesauruses, as well as google searches and rhyming materials. The goal is to generate a list of possible brand names for your company.

However, while choosing a name, only focus on short, catchy, innovative, modern, exciting, metaphoric, or symbolic words that connect with your brand’s naming requirements.

And if you do hit a creative wall, then know that a strong business name generator can help you come up with some interesting name ideas.

Make Sure to Test Your List for the Best Name

Now that you have a list of names that align with your company’s needs, it’s time to test these names with an audience so you can get the best one for your brand.

Now, after you've tested your list with an audience, pick the best name and double-check it with the USPTO to make sure it hasn't already been claimed by another company.

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