One of the most significant aspects of starting a business is developing a brand name. With a good brand name, you can define your business to your market, build market trust and awareness and attract customers to your company.
But on the other hand, giving your business a terrible brand name can cause customer confusion and even legal difficulties.
But what makes a brand name excellent or terrible, and why? Knowing the answer to this question while carrying out a naming process is integral to giving it the perfect name that won’t be detrimental to its success.
That’s why we’ll show you today what a good brand name looks like and how to obtain one for your company. This guide will show you how to find an excellent brand name to give your product and company a competitive advantage in the market.
Let’s get started.
Steps to Choosing the Perfect Business Name
- Your Name Should Complement Your Brand Positioning
Before you start thinking about business names, it’s essential to consider your brand positioning and target market. Your brand names should aim to speak to your target consumer, presenting your brand in the right tone and emotions you want them to associate with your brand.
Consider the emotions you want customers to connect with your brand and how you want clients to perceive your company. Which brand image do you want to project—luxury, fun, approachable, or reliable and competent?
Whichever you choose, the one constant is that your brand’s name should represent its tone to promote and solidify its positioning.
Furthermore, keep in mind that this also applies to your domain name. When seeking domains for sale, choose one that matches your brand name and complements your brand positioning.
- Use Metaphors, Visual Imagery, and Emotionally Powerful Words
In your brainstorming process, be sure to think outside the box when looking for words that match the tone and mood of your business. Consider employing metaphors and visual images to come up with unique names.
Rolex’s brand name creates a sense of grandeur and elegance. The name ‘Rolex‘ represents the company’s dedication to accuracy and excellence. Similarly, Gap is associated with the concept of a bridge, which connects various people and styles.
These are instances of brands that used metaphors and visual images to develop a memorable brand name.
- Create a Comprehensive List of Names
Think of as many ideas as possible and write them down, even if you don’t like them. Remember that your favorite name ideas may not actually work for your business, and more often than not, the diamond in the rough is the best for your brand.
The objective of your brainstorming session is to produce as many ideas as possible to choose from when narrowing the list down.
Consider crowdsourcing business names or other innovative methods of generating business names. You can invite friends and relatives to assist you in producing name suggestions, or you could hire a naming agency or form a team of employees to assist you with the process.
While searching for a brand name, don’t forget to examine the names of the top brands on the market and discover why their names are successful. By doing this, you could learn more about what works in your niche and use the knowledge to guide your naming process.
- Use Trademark Research to Verify Your Names
Once you’ve compiled a list of potential names, the thing to do next is to validate them through trademark research. If you accidentally employ a trademarked name, you could face significant legal troubles and a cease-and-desist letter from the trademark owner.
Evaluate your names to see if any of them have previously been trademarked. You can contact a trademark attorney to assist you in navigating the trademark procedure and registering your ideal brand name.
It’s advisable to register your name as quickly as possible to secure it from potential trademark infringement and others who may seek to trademark the same name.
- As a Final Check, use Audience Testing
Once you’ve narrowed down your best names, conduct audience testing to ensure they connect with your target demographic. This will allow you to obtain input from your target customers and confirm that your business name accurately represents the essence of your brand to them.
Be cautious with the questions you ask while performing audience testing. Your inquiries should focus on which names catch their attention, drive action, and instantly connect with your brand identity.
Avoid asking biased questions such as “Which name do you prefer?” Instead, ask, “Which of these names are you more interested in learning about.”
Start Discovering Your Ideal Company Name
Naming a brand may be difficult, but with the correct approach, you can create a name that stands out from the rest and convince customers to buy from your brand.
By following the processes outlined above, we’re confident you’ll be able to design a unique name for your brand that appeals to your target demographic and helps your business succeed in the market.
Grant Polachek is the head of branding at Squadhelp, a 3X Inc. 5000 business that creates concise, distinct, and captivating brand names for Fortune 500 companies and startups. As one of the world’s leading crowdsource naming agencies, we’ve diligently analyzed over a million entries and developed a comprehensive list of distinctive company and domain names for entrepreneurs everywhere.