If you’ve been keeping count, you probably know that the number of companies pouring into the market has steadily increased. Over 7 million businesses were started between 2020 and 2021 alone.
With such vast numbers, the fate of any company wanting to stand out in the market lies solely on the shoulders of one thing, its brand name.
So, how do you choose the perfect name for your company? Here’s how.
Four Trusted Keys to Unlocking the Perfect Brand Name
1. Have a Strong Mental Image of Your Brand
Before you start looking for a powerful name, you need to have a clear mental picture of your company’s future goals. This understanding will influence every brand concept you develop.
Also, gather all information about your company, its niche, and your industry in general since this will help you select the best name that encompasses all aspects of your brand.
But while gathering this vital information, don’t overlook your competitor’s brand, products, services, and marketing strategy. This would help you identify what works, doesn’t, and what it takes to attract your target customers.
Now it’s time to condense the ideas you’ve gathered until you’ve found a few that best satisfy your brand’s core principles.
2. Choose a Compelling Brand Tone
One sure path to selecting a name representing your company’s core principles is to ensure that it has the appropriate tone that’d trigger a positive emotion in your target audience.
Begin by researching your target customers so you can figure out what unique elements would attract them to your company. Knowing your customers makes it easy to determine if your brand’s tone should be:
- Fun and playful like Squatty Potty
- Modern and intruguing like AliensAtPlay
- Pragmatic or practical like The Tea Shack
3. Know Your Company’s Branding Elements
Although the tone of your brand is vital, the branding elements of your business are the fundamental basis of your brand’s image. They represent the personality and identity of your brand.
So, take out a pen and paper and jot down your thoughts about your company’s:
- Big ideas: What are your company’s guiding principles?
- Values: What personal or audience values does your company hold?
- Story: Is there a story that you can link with your business?
- Value proposition: Why should people buy from your company?
When naming your business, don’t emphasize your brand’s operations, the expensive cutting-edge technology you use, or your shop is elegantly built.
Instead, concentrate on the fine elements of your brand, such as your aim; how you’re building your business so people can appreciate the little things in life; your vision;
bringing the world closer to specially crafted attires, rare gems, awe-inspiring jewelry, and your value; elegant styles, affordable prices, and teamwork. Details like this would lead you closer to the perfect name for your business.
4. Prepare Your Naming Criteria and Begin Brainstorming
Following the steps above will make preparing your brand’s naming criteria easier. And your naming criteria will give you a good sense of what the perfect name for your brand would be.
With your naming criteria set, it’s time to get creative and brainstorm. First, look through dictionaries and thesauruses for words that match your brand’s naming criteria.
Prepare a list of short, entertaining, creative, memorable, or symbolic words that can help your brand stand out. The goal here is to compile a long list of potential brand names.
But if brainstorming gets too challenging and time-consuming, you can always rely on a strong company name generator to produce intriguing brand name ideas.
Fortune Favors the Bold
While searching for the best name for your brand, always remember that market fortune favors bold and unique words. Why? Because bold names like GoDaddy, Amazon, Lionsgate, and Urban Decay are simple, exciting, and memorable. These names trigger positive emotions from people, and most times, those emotions could transform them into loyal customers.