It’s true that anyone starting a journey of a thousand miles begins it with a single step. And for anyone looking to start a business, the first step is to conduct market research, followed by developing a business strategy, funding your business, choosing a location, choosing a business structure, finding the right brand name, registering your company, obtaining tax IDs, licenses, and opening a business account.
We understand that each of these stages can be extremely difficult for new entrepreneurs, so we’ve written this post to make it easier for you to generate the right brand name that’ll force people to notice and patronize your business.
Let’s get started.
How to Choose the Best Brand Name for Your Company
Now, even if you’ve spent years developing your game-changing idea that’d revolutionize your industry, if you don’t empower your company with the best brand name, your company will never see true success.
But don’t worry; following these simple steps will guide you on how you can find the best brand name for your business.
Understand Your Industry
The road to a great name is paved with information, so don’t simply fantasize about it; sit down, research, and learn everything you can about your business, audience, and competitors.
Make sure you set aside time to learn everything you can about your company’s values, mission, vision, and goals. Gathering this information will make it simpler to determine the best tone and personality for your brand.
Topics of Interest
Find the Best Brand Tone
The best approach to create a brand name that captures your company’s fundamental principles is to ensure that it has the right tone and evokes a strong emotional response in your target customers.
So, concentrate on your target market, discover what draws them to your business, and why they should care about your business.
“Talk like a human, not like a brand…”
Knowing who your brand is talking to can assist you in deciding whether your brand’s tone should be:
- Modern and innovative
- Fun and Playful
- Emotionally impactful
- Amiable and inviting
Understand your brand’s secondary elements
Your brand will only exist as an idea unless you give it life, and the best way to do so is to define your brand’s secondary elements. These elements represent your company’s identity and personality, and they include your brand’s:
- Big ideas
- Brand values, mission, and goals
- Value proposition
Understanding these critical branding elements of your brand will assist you in developing a brand identity that correctly represents your business to its target audience.
Researching your industry, determining the right tone, and identifying your brand’s elements can assist you in developing your brand naming criteria, which is just a simple knowledge of the type of name that would be ideal for your company.
Now it’s time to be creative and start looking up words in dictionaries and thesauruses that match your company’s naming criteria. Concentrate on creating a list of modern, memorable, catchy, symbolic, and fascinating words that’ll help your business stand out.
And when it comes to choosing the right name for your company, one of the quickest paths to generating a list of ideal names is using a reputable business name generator.
Make Sure You Test Your Brand Name
After generating a list of names that match your brand’s naming criteria, don’t just select a name at random because you like the way it sounds.
Instead, make sure you put every name on your list to the test with a small sample of your target audience.
After these names have been tested, choose the best one and check with the USPTO to see whether it’s already been trademarked by another company.
Verifying your name with the USPTO will spare your company from having to deal with any copyright issues in the future.
“What’s in a name?” This one short line captures the central struggle and tragedy of the classic Shakespeare play, Romeo and Juliet. But studies show a brand name is indeed an important decision that can help your business stand out from the crowd.
In developing marketing strategy, you need to try and look far into the future to determine where your brand will be in 50, even 100 years. Maybe there are opportunities for your brand to go beyond a regional product to a national or international brand.
Even thinking about the meaning of your brand in different cultures and languages.
Whether you have an already established company, are in the process of creating a new product, or are just thinking about taking the entrepreneurial plunge, these tips will help ensure your brand name is a right fit, for now and in the future.
Grant Polachek is the Head of Branding at Inc 500 company Squadhelp.com, the worlds #1 naming platform, with 30,000+ customers from early-stage startups across the globe to the largest corporations including Nestle, Philips, Hilton, Pepsi, and AutoNation.