You’ve got the best idea since sliced bread. Now you always need the Choose perfect brand name for your business, product, website, or whatever it is that is now nameless. In other words, you always need a cool business name that will sum up your emerging venture perfectly, catapulting it firmly towards the success you know it deserves.
We came up with a Complete Guide to Choose a Right Name for your Business
A successful businessman always knows that the companies name plays an important role in business. Before selecting a name always take advice, take a look at the mistakes of others, check ratings and statistics, then select a name. with the help of our companies name, we can communicate with others.
A company’s name is everything for the company present, future, and perception, etc. these are some statistical data which shows that a business name is very important-
- 78%of customer says that ‘a good name of the business can give a direct impression on us.
- 58% of customer says with businessman we can make personal relation, but with we cannot make these types of relations with the owners of the branded product.
- 50% consumer says that brands always create confusion as compare to marketable products.
Difference between Brand and a Business name
In simple words the difference between a brand and the business name. a business is an exchange of goods and services in the market or produces products for sale and purchase and the name of that business known as business name and the Brand refers to the image and personality of a company applies to its products.
Famous brands such as Sony, nick, and many more also the name of the parent companies. A Brand image based on its factors like quality and guarantees with high prices to the customers but the other way a business name promise customer at a lower cost with fine quality product.
Current Trends on business names
Usually, it is shown that, when we start a new business, we don’t have more knowledge about business. And we can select a name for our business which is not suitable for that product or goods. So it is very important to get some help from the internet, and from anywhere to select a good name for a business.
There are some trends which show these types of issues and their solutions;
-Don’t be offensive– if you are not selecting a good name then don’t be offensive or feeling guilty it was just a name be careful and take corrective measures to solve the problem related to the business.
-Short is better. Keep it Short, simple but make it clever. There is power in Short business names that are easy to pronounce and spell, but that doesn’t mean you have to be boring.
-Make sure it makes sense. Many Businesses are deciding such names where there I strong need to present company directly. There name suggest the nature of business. No one is going to remember your business name if it doesn’t in some way reflect what your business does—no matter how clever you try to be.
-Name should Motivate others– if you get confused, then don’t be feel shy and guilty. Be Unique and pick the name which motivate others and Make a movement to make desire place in their heart.
-Make it yours– Before you fall in love with your business name, check that name on the internet and confirm its availability. If another one using the same then please forget the name and select another one.
-Simple is better– doesn’t think too much just select appositive and simple name which is easy to say, easy to read and easy to remember.
Creative Brand Names Matter
Great brand names are like magnets that people gravitate towards. You have mainly a chance to carve out a unique brand identity when you choose a suitably great name.
So, don’t forget, potential customers, adopt certain expectations upon hearing your name. If their expectations don’t align with reality, they will quickly get the sense that something is awry.
The Return on Investment of your Name
In this section, we will go over how a name directly impacts your monetary success. A great name is more than just frills–it can mean the difference between a sale and a loss! Here are a few ways that a name can bring tangible value to your business.
1. How to Name a Company or Brand–the Right Way!
When you are naming a business, you need to make sure you go about it the right way. We have created this process and these tips for choosing a business name to help you succeed. Here’s everything you should consider when coming up with a business name.
Everything has mainly a name, a word we attach to it to give it some sort of meaning. So, words and names are terms of reference for us when we communicate. Concrete, clear and well-defined ideas are always much easier to name than hazy, vague ones. If you’re planning to open a chocolate shop, you need to know more about it than the simple fact that you’ll be selling chocolates! So, let’s dive in.
2. Start with the big ideas, then go small
Start by narrowing your ideas down until you have distilled them the essentials of your brand. You’ll build your name from these key components. You may want to start with our business name generator. Naming a business is all about focusing your ideas. Like the graphic above states, start with your venture, and then narrow your focus to your brand. Your brand is what mainly informs the naming process.
3. Creating a brand name tone
The best way to ensure that a business name sets you up for success is to make sure you are choosing a business name that sets up the right brand tone. Tone is a general term for a character or attitude of a place, story, song, business, and more. The tone of your business should speak to your audience while also appealing to your business aspirations.
Some of our favorite brand tones:
- Fun and Playful
- Amiable and inviting
- Pragmatic or practical
- Modern and innovative
- Emotionally impactful
You can select the right brand tone by considering who your customers are, what attracts them to you, and why they should be excited about your brand.
4. Secondary Branding Elements
While an overarching tone is critical to developing a great brand and a brand name – the tone is not enough. So, secondary branding elements are the building blocks that you’ll use to actually develop great name ideas.
Take time to jot down ideas for each of the following bullet points. This is information you can start to use to piece together your brand name. Think of these ideas as the building blocks of your brand.
- Big ideas: What are mainly the large concepts behind your business plan?
- Values: Mainly what personal business values or audience values drive your brand?
- Stories: Is there a story behind your business that you should tie to?
- Industry specifics: What values are mainly specific to the industry that you want to align with?
- Benefits: What specific benefits do you offer your customers?
- Feelings: Are you trying to provoke any strong emotions from your audience?
- Value Proposition: This is a specific statement that sums up your brand (mentioned above)
Your secondary branding elements will also inform how you construct your name. As you begin naming, you will use pieces of this information to form a list of name ideas. Not every name will appeal to every bit of information on this list, but that’s okay! Focus on capturing the core elements.
5. Setting Up your Naming Criteria
A great business name is whittled down from a concise project statement comprised of all the elements we discussed above. A successful brand name can serve many functions. Most brands that you know can be reverse-engineered to reveal how they work in the company’s favor.
Typical makeup brands at the time like Lancome and Maybeline offered safe, neutral colors. Urban Decay needed a name that showed how and why they were different, and as jarring of a name as it is, it stands out and intrigues an audience.
How to Turn this all into naming criteria
Once you have gathered all of the above information about the brand you are building, you can create some clear project statements that help you and others understand exactly what you need out of a name.
Important note: Keep your target audience in mind!
1. Let the Brainstorming Begin
It is the right time to start generating unique brand name ideas. Whether you are crowdsourcing or coming up with names on your own, bring your team together and try out naming activity to start generating creative business names using our list of types.
If you’re following the process, you should by now have found at least one, and perhaps even two or three names you really love. It’s tempting to stop at this point, ecstatic that you’ve got results. But whatever you do, don’t drop out now!
3. Choosing a Name with a Domain
If you’re launching a new business in today’s world, you will likely need a domain. However, so many domains have been registered that it is no longer as simple as visiting a registrar and claiming the appropriate available domain.
4. Domain budgeting for your project
Mainly when choosing a name for your business, considering your domain and domain budget will help you strengthen your business plan. Also consider how your domain will mainly impact your business, and budget accordingly.
5. Passing the Basic Name Tests For Functionality
You need your business name to pass these basic name tests. Even the smartest, coolest names sometimes must be thrown out because they will cause long-term branding and marketing problems.
6. The Crowded Bar Test
A good business name is easy to say and hear, even in a crowded bar. This is the Crowded Bar Theory. So, the basic principle is that your name should still be understood, even if it’s said in a crowded bar.
You should also start narrowing your list of new company names by these two simple checklists we have created:
Use this checklist if you want people to CARE
- Contextual – name makes sense for your brand positioning
- Appealing – name is mainly pleasant to say and hear
- Remarkable – always name sticks in the mind and gets people talking
- Evocative – name is mainly emotional, intriguing, experiential, or impressively clever
Use this one if you DON’T
- Difficult – to spell or pronounce
- Obscure – only a few people mainly “get it”
- Neutral – too safe, too boring, doesn’t excite to your audience
- Taken – the legal implications aren’t good and the domain isn’t available
7. Avoid Legal Issues
Just like other aspects of your business, choosing a name has legal implications you must consider. This is why coming up with a unique name is so important.
We mainly feel the need to warn you in particular about Trademark issues. Just about every word in the dictionary is trademarked to a certain degree. Before you decide on a name, do your due diligence and get it checked out by legal professionals. If it’s high-risk, change it. A cease-and-desist letter can be a real show stopper.
8. Audience Validation
Now, for the final step! Get some audience validation. Always make sure your target audience – real people who aren’t in your inner circle – react well to the name. Over the years, we’ve discovered that for those starting a new venture, getting audience validation is satisfying and encouraging.
Because your business name needs to resonate with your audience, you should choose a company name with its performance with targeted audiences in mind.
In conclusion, it can directly show in the above discussion that the right name of a company influences the company at a very high level. If the company have not the right name that it can be proved harmful and the company can suffer losses. So, before selecting a name to think and find everything about that.