The vastness of the business world is truly intriguing. Sectors that seemed almost unconquerable several years ago have become totally subdued, and entrepreneurs are still pushing further and exploring other possibilities in the market.
And suppose you’ve discovered an interesting product with high demand that you intend to turn into a business. In that case, you should get it a powerful brand name because only companies with great names survive and thrive in this vast world of business.
Finding a great name isn’t a simple task; a lot of passionate entrepreneurs venture into the naming process unarmed and end up spending valuable weeks, sometimes several months, only to discover a weak name.
So, we prepared this article to arm you with the necessary knowledge to find the perfect name for your business.
Let’s begin with:
Why Your Business Needs the Perfect Name
In the same way that names like Apple, Tesla, Amazon, Samsung, and Virgin have become valuable assets to their company’s market dominance, your brand name can also boost your brand’s reputation in the market.
And if you want to stand out from the crowd and achieve the same level of success as these massive organizations, you'll need a powerful brand name because it’d help your business:
- Attract Customer Attention: Your name can help your brand stand out from the crowd, attract customer attention, and multiply your brand’s income.
- Create a Personal Bond with Customers: A great brand name can help your company establish a strong connection with its target market.
- Create a Buzz: Your brand name has the power to draw customer interest to your company.
- Encourage Referrals: Businesses with appealing names receive a lot of referrals.
- Reduce the Cost of Marketing: A memorable name will help you save money on marketing by making your company more memorable.
- Attract Great Employees: Choosing the right name is critical to building a firm that employees will want to work for.
With that said, let's look at how you can come up with a perfect name for your business.
How to Find the Perfect Name for Your Business
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Know Your Business
Starting a business isn't easy. As an entrepreneur, there are a lot of things that demand your immediate attention, but if you must establish a great company then you need to take out time to ask yourself, "Who do I want my company to be when it grows up?"
By answering this question, you’ll get a better grasp of your company's core essence and you’ll also one step closer to discovering the appropriate name that embodies this essence. However, to find the answer to this question, you need to have a deep understanding of your industry.
And to get that understanding, start by making a list of your company's essential principles and carefully selecting the most crucial ones. This simple exercise can help you understand your brand’s potential, limitations, and what exactly you'll need to win your customer’s hearts.
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Choose Your Brand’s Tone
Your brand's name establishes the tone of your business. Keep in mind that if your brand fails to connect with your target audience on a deep level, it will swiftly lose its market relevance. That's why finding the correct tone for your business is so important.
Your tone is responsible for providing the link between your business and its customers, while other components of your brand express your company's message. Your tone communicates the attitude, intent, and passion of your brand, as well as how you want your audience to perceive it.
To get the best brand tone for your business, start by defining your brand's position and letting that guide you to the right tone. Remember, whether your tone is lighthearted, playful, practical, or traditional, it must be consistent with your brand.
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Know Your Brand’s Elements
The best way to bring your brand to life is to identify its core features. Knowing your company's key ideas, objectives, and goals, as well as the emotions you want to evoke in your audience, the benefits customers will receive from you, and your brand's value proposition is the best method to define your brand's elements.
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Brainstorm
The task of brainstorming an excellent brand name is difficult and inescapable. It's almost like a rite of passage for entrepreneurs.
But although brainstorming is challenging, it doesn't have to be a doom and gloom experience. You can lighten the load on your shoulders and make the naming process more fun by assembling a team to help you.
Show them your branding elements, market, audience, and customer research. Talk to them about the tye of name your brand needs and encourage them to come up with the most unique and imaginative names they can.
The best move for entrepreneurs and solopreneurs who don’t have access to a team, is to use an excellent business name generator.
Test Your Name
If you've made it this far, you've probably come up with a few names that cover all of your company's requirements. But don't pick a name for your company at random; test each one with an audience and pick the best one.
The perfect name is memorable, appealing to the ear, easy to say, spell, and also has an available domain and social media handles.
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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. Get inspired by exploring these winning business name ideas.
