When starting a new company, you need to be ready to re-learn everything you think you know about running a successful business because brand competition can quickly escalate from innocent play fighting to the bare-knuckle deathmatch. Trust us; things do get intense.
If your brand must emerge victorious against its competitors, you need to ensure it outperforms them, wins new clients, and establishes itself as an authority in its niche. And the best way you can easily achieve all this is by giving your business the perfect brand name.
Finding a great brand name can be a challenging process, but we’ve prepared this simple article that’d help you find the best brand name for your business. Let’s get into it.
Here’s Why Your Company Needs the Perfect Name
Today’s business world is so competitive that 20% of every startup entering the market fails in their first year.
Now, forget what you’ve probably heard in the news because things aren’t going to get any easier for entrepreneurs, not with over 4.35 million new companies starting in 2020 and 2.81 million companies opening their doors in Q1 and Q2 of 2021.
Not to mention that with the average customer getting slammed with over 10,000 ads every day—both from small and major corporations—your company is condemned to remain trapped in an endless deathmatch with other brands, except it has a powerful brand identity.
And speaking of brand identity, one of the best ways you can build a solid identity for your business is to get it the perfect brand name. And every entrepreneur needs to focus on their brand’s name because it can:
- Give your brand a unique identity
- Attract loyal customers
- Grow your brand’s reputation
- Position your business as an authority
- Attract skilled employees
With that said, here’s how you can go about finding the perfect brand name for your business.
Six Solid Steps That’d Lead You to the Perfect Business Name
1. Visualize Your Brand’s Future
Having a clear idea of your brand’s future is the first step you must take to craft the perfect brand name. That’s because the ideas you’d generate from visualizing your brand’s future will play a critical role in shaping your brand’s identity.
But don’t stop there. Also, make sure you learn everything you can about your business and its industry because it’d make it a lot easier to find a name that fully embodies your brand.
But while researching and gathering this information, pay attention to your competitors, their brands, products, services, values, and marketing techniques. This would help you get a deeper understanding of what works and what doesn’t. It’d also open your eyes to what you need to do to win the love of your target audience.
The next step is to go through the information you’ve gathered and use them as the building blocks of your brand’s identity and personality. These would help you find your brand’s core concept, goals, mission, vision, and values.
Filter these ideas you’ve gathered until you find a select few that capture the essence of your company.
2. Build a Great Brand Tone
Crafting a compelling brand tone that reflects your brand’s essence and emotionally connects with your audience is a vital ingredient you must possess to find the perfect brand name.
A compelling tone can help you grow your brand’s identity and influence your audience’s perception of your brand.
And that’s why you must pay attention to your customers and understand what attracts them to your brand. Knowing your customers can help you figure out if your brand’s tone should be:
- Fun and Playful
- Modern and Innovative
- Amiable and Inviting
- Practical and Pragmatic
- Emotionally Impactful
3. Discover Your Brand’s Secondary Elements
Finding a great tone is critical, but you need to discover your brand’s secondary branding elements. And that’s because these elements are vital ingredients in the naming process necessary for building a comprehensive brand identity.
So what are you waiting for? Grab your pen and paper, or even your phone, and start writing your views on your brand’s:
- Big ideas: What are the guiding principles your business follows?
- Brand values: What personal or customer values do you hold dear?
- Brand Story: Do you have a compelling story you can tie in with your brand?
- Benefits: What unique benefits do your customers stand to gain?
- Feelings: What strong emotion(s) do you want your customers to feel?
- Value proposition: What makes your company special, and why should customers do business with you?
Having a solid grasp of your company’s secondary elements will make it easier for you to develop a genuine and valuable company with a captivating personality.
4. Prepare Your Project Statement
Preparing your project statement is crucial because it’d give you—and anyone that’d help you find your brand’s name—a clear understanding of the kind of name your business needs.
Here’s what a simple project statement looks like:
- We need an appealing name for our design company that radiates fun, speed, intelligence, and competence.
It’s time to get creative, unleash your imagination and come up with short, engaging, fascinating, and captivating words that meet your brand’s naming requirements.
You can make the brainstorming process faster by looking through dictionaries and thesauruses for words that communicate your brand’s values, identity, and personality.
Remember, the goal is to generate a comprehensive list of possible words with enough potential to become your brand’s name.
But while brainstorming, make sure you focus on finding short, new, appealing, metaphorical, or even symbolic words.
We understand that brainstorming the perfect name can get complicated quickly, so if finding the best word is difficult for you, feel free to use a strong business name generator.
6. Test Your List to Find the Perfect Name
By the time your brainstorming session is over, you’d have generated a lot of words that satisfy your brand’s naming requirements. But how do you know which word would make the perfect name for your brand?
The answer is simple; the perfect name for your brand should be:
- Audience tested
- Available as a .com domain
- Social media handles are available
- Not yet trademarked with the USPTO
Get Professional Help
Tons of business owners are trapped in an endless search for the perfect name that they forget that time waits for no one, and their competitors are quickly gaining the lead and planting their roots deeper into the market.
So, if you’ve hit a dead-end at any part of your naming process, don’t delay in reaching out to a professional brand naming agency.