The global marketplace is actively evolving, and millions of new enterprises are launched each year. According to Oberlo, 3.51 million, 4.38 million, and over 4 million brands were launched by entrepreneurs in 2019, 2020, and 2021, respectively.
Every business person who wants to develop a successful business must have a memorable brand name. A strong brand name makes it a lot easier to grow your business because a great brand name is the finest way for any business to establish a striking first impression in the minds of its customers.
But finding a solid brand name is not an easy task, and that’s why, today, we’re going to give you some fundamental guidelines to help you choose the best name for your business.
Four Trusted Steps to Finding the Perfect Brand Name
Understand Your Company’s Future
Before you begin looking for a memorable name for your new business, you need to have a strong understanding of what you really want your firm to be and accomplish in the future. Knowing this will have an impact on every step you take while building your brand.
Before building your brand, do your best to meticulously study and decipher all you can regarding your company, its target clients, niche, and industry, because all of these will play an important role in shaping your business and helping you pick a unique name that truly reflects all facets of your company.
While researching your company, consider your competitors’ products, service quality, brand image, brand names, and marketing style. This will provide you with a clear picture of what will and will not work for you and what you’ll need to do to win the interests of your target audience.
After studying your business, you’ll need to compile all of the data you’ve gathered and distill it down to the most important elements that reflect your brand’s core ideas.
Get a Striking Brand Tone
The best method to create a name that successfully communicates your company’s genuine personality is to ensure that it has the correct tone that’d trigger a strong favorable response from your target audience.
The tone of your company’s brand displays its personality and quickly establishes a closer connection between your business and its customers.
And one way to identify the right brand tone is to research your target customers and determine what draws them to other businesses in your field, as well as the desired qualities your company must have to gain their attention.
Understanding your customers can assist you in determining if the tone of your brand should be:
- Emotionally impactful
Find Your Company’s Secondary Branding Elements
Finding the right tone is critical, but don’t stop there; ensure you examine your company’s branding elements because they’ll serve as the foundation of your brand’s identity and personality.
So, grab a pen and a piece of paper and jot down your opinions about your firm:
- Big ideas: What principles does your business follow?
- Values: What are your brand’s personality and audience values?
- Benefits: What unique advantages will people gain from your company?
- Feelings: What powerful feelings do you want clients to feel when they interact with your brand?
- Value proposition: Why should customers choose your brand over its competitors?
After researching your business, setting up an engaging tone, and determining your branding elements, the next stage is to begin brainstorming words that match your business’s naming requirements.
When it comes to brainstorming, looking through materials like dictionaries and thesauruses for the finest words representing your business’s essential concepts is a smart strategy that can help you get results faster.
While brainstorming, focus on creating a diverse set of brand names for your organization. Prepare a list of short, creative, captivating, entertaining, and even symbolic words that will attract your audience’s attention and help your firm stand out in its field.
And in case you ever run into trouble while brainstorming for original and fascinating brand name ideas for your company, don’t be afraid to use a strong business name generator to generate some unique and original name ideas.
Grant Polachek is the head of branding for Squadhelp.com, 3X Inc 5000 startup and disruptive naming agency. Squadhelp has reviewed more than 1 million names and curated a collection of the best available names on the web today. We are also the world’s leading crowdsource naming platform, supporting clients such as Nestle, Dell, Nuskin, and AutoNation.