- 13 December 2022
- by Grant Polachek
- Blog
- 0 Comments
When considering whether they should buy a company’s product or service, prospective customers frequently ask themselves why they should choose a brand over another offering similar goods.
This is because people typically search for justifications or lean on their emotions when making such choices. And providing your company with a unique, engaging, and welcoming name can successfully persuade potential customers to choose your brand’s products.
But, it might be difficult to choose a perfect name for your company or product. And that’s precisely why we’re here with these three brief guidelines on picking creative company names and premium domains for sale that are a perfect fit for your business venture.
Three Easy Steps to Choosing the Best Business Name
1. Know Your Company’s Brand Identity
Your company’s products, services, and brand image are its most essential components since they influence how customers interact with your firm.
Therefore, be aware that your brand should be a key consideration when naming your business. Make sure to decide on the identity, principles, voice, and emotions you want your company to arouse in customers.
Take Sephora, a company in the beauty industry, as an example. Sephos, a word of Greek origin that means beauty, and Zipporah, the name of Moses’ stunningly beautiful wife, were combined to create the brand name. By choosing this unique path, Sephora was able to give their company a distinctive, memorable name.
Your firm’s name must correspond with your brand image for it to be outstanding in your market. So, for example, if the identity and personality of your brand resemble that of Urban Decay, then a name like Sephora wouldn’t be a good fit.
2. Start Looking for Possible Brand Names
Let’s say you have a group of people who can serve as a naming team. Now’s the time to provide them with an overview of your company’s tone, values, and brand, as well as the essential supplies, such as a whiteboard, notepad, pencils, markers, and some snacks to keep everyone’s spirits up.
Your top objective should be to create as many catchy company names that exactly describe your organization and are both short and memorable. Avoid any temptation to assess the names you come up with when brainstorming since this might impede your team’s productivity.
As a bonus, here is a list of a few resources that make brainstorming much simpler:
- Dictionary and thesaurus
- Visual names (relating to color)
- Company naming tools and platforms
- Industry slang
- Rhymes
Come up with 200 or more brief, memorable, and intriguing words after your brainstorming session. No matter how strange or off the words may feel to you, their full potential wouldn’t be seen in this stage.
The broad list of ideas you come up with throughout the brainstorming process will offer a wide range of viable options for business names in the next step.
3. Examine Every Potential Name
At this point, you need way fewer than 200 names. So ensure you reduce your list to the ten best names that can represent your company.
Compare every name on your brainstormed list to your brand’s voice, values, and key concepts. Your naming team should have access to a brief detailing your intended tone and brand identity.
Next, assess the names based on how well they represent your brand, how they sound and appear in different mediums, such as print and social media, and how excited you and your team are about them.
Ask your team for feedback on how memorable and catchy each of the names is. This would help you pick the top-ten finest names from your list.
4. Start Validating
Now that you’ve condensed the names, it’s time to go through your top-ten list and choose the best name for your business by authenticating the names you’ve come up with. And the quickest way to determine if the business name you’ve picked is appropriate for your enterprise is to validate it. -says Jason Edwards, the chair of the Agent Editor Board of Agent Advice
Be sure that your top pick satisfies these fundamental criteria:
- Get Customer Approval: Obtaining consumer insights is a crucial check since it will show whether or not the name will catch the attention of your target market. If you’re starting a new online business, ensure you find a catchy and recognizable brand name.
Eyal Elazar ,Head of Product Marketing at Riskified mentioned, that the goal is to find the best name that instantly appeals to and connects to your target audience. And you could accomplish this by asking for input from close relatives, friends, or even strangers.
You can run a customer survey on any social media platform where your target audience is most active. However, you can also use physical methods, such as approaching strangers on the street or going door to door if you run a local business.
Also, do your best to keep your emotions out of the naming process since the brand name picked by your target market may not be your favorite.
Be sure to run every name on your list through a linguistic test to ensure that they are easy to speak and do not have a bad connotation in another language.
- Check for a ‘.com’ Domain: The internet has become so ingrained in today’s industry that it would be difficult for your company name to have the effect it merits if it doesn’t have some key elements.
These elements include a matching domain name, an active social media presence, and a top-notch website. So, before choosing the firm’s name, check for these requirements.
- Can be Trademarked: By registering your company name, the USPTO can help you avoid a number of potential problems regarding the infringement of trademarks. And before you decide on a name for your business, you must verify its trademark status.
Because many commonly used names already have some type of trademark protection, using them might lead to legal issues, which may be bad for your firm.
Trademark registration is frequently a challenging and time-consuming process for startup business owners. Therefore, keep in mind to ask a knowledgeable trademark attorney for assistance.
Start Validating
Now that you’ve condensed the names, it’s time to go through your top-ten list and choose the best name for your business by authenticating the names you’ve come up with. And the quickest way to determine if the business name you’ve picked is appropriate for your enterprise is to validate it. – says Jason Edwards, the chair of the Agent Editor Board of Agent Advice
Be sure that your top pick satisfies these fundamental criteria:
- Get Customer Approval: Obtaining consumer insights is a crucial check since it will show whether or not the name will catch the attention of your target market. If you’re starting a new online business, ensure you find a catchy and recognizable brand name.
Eyal Elazar ,Head of Product Marketing at Riskified mentioned, that the goal is to find the best name that instantly appeals to and connects to your target audience. And you could accomplish this by asking for input from close relatives, friends, or even strangers.
You can run a customer survey on any social media platform where your target audience is most active. However, you can also use physical methods, such as approaching strangers on the street or going door to door if you run a local business.
Also, do your best to keep your emotions out of the naming process since the brand name picked by your target market may not be your favorite.
Be sure to run every name on your list through a linguistic test to ensure that they are easy to speak and do not have a bad connotation in another language.
Conclusion
Your company’s name is a key component of your brand that helps differentiate your company from competitors and boost brand sales, performance, and awareness.
Therefore, choose a company name that accurately captures the essence of your brand if you want to be successful in drawing in new customers and creating more revenue.
Grant Polachek is the head of branding at Squadhelp, a 3X Inc. 5000 business and disruptive naming agency. Squadhelp has evaluated over 1 million brand names and compiled a list of the top high-performing domain names on the internet. We are the foremost crowdsourcing platform, and our customers include Fortune 500 companies and fresh emerging businesses.
