In this article, I am going to help you understand what most entrepreneurs don’t know about discovering a captivating brand name.
Let’s travel back in time to July 5, 1994, when the startup Cadabra was founded. Its creator, Jeff Bezos, struggled to find the perfect name for his online bookshop, as many other entrepreneurs today would.
Amazon as we know it was eventually created after a few tries and errors. But one is naturally compelled to inquire, ‘Why Amazon?’ given the abundance of alternative name options.
Since there are so many potential names, entrepreneurs struggle to find the best name for their companies.
And if you’re an entrepreneur struggling with finding a compelling name for your business, stick with us because this article will show you the trusted way to develop great name ideas quickly.
But first, let’s look at why every organization needs an ideal name.
Why You Need a Perfect Name for Your Business
From a practical standpoint, you’ve definitely had circumstances where a brand’s name or company name made you reconsider buying their products. Would you want to buy a drink called Pee Cola?
Don’t be like other young startups; always remember that finding a powerful brand name isn’t something you should take casually. Your brand name is something every successful business possesses, regardless of the make-up of their products or industry.
When coming up with business name ideas, ensure you find a name that will:
- Aid in the development of a unique brand identity
- Give your business a positive reputation
- Help you attract competent employees
- Contribute to building a distinct brand identity
- Raise your business’s reputation
Your brand name is one distinctive quality that can quickly make or damage your business’s brand and, by extension, your company itself. That is why picking the perfect company name ideas for your business is relevant.
How to Pick a Captivating Name for Your Company
Even though there are two main approaches to selecting the most suitable name for your company, none will work if you don’t have a strong knowledge of your corporate sector and your intended audience.
So ensure you begin with research.
- Research Your Business
By conducting research, you’ll not only gain invaluable knowledge about your target market and competitors but so much more. You’ll also better understand your industry, what works, and how your company can adapt to provide better services that would help address your target market’s problems and propel your company to prominence.
Surveying your target audience is an ideal method for learning more about your target market. This will enable you to comprehend their needs, wants, interests, and how to communicate.
Pay close attention to your competitors. Devote time to understanding their brand, the kinds of products or services they offer, what makes them unique, and how you can provide superior service.
That said, let’s explore the two major approaches to finding a solid brand name.
- The Long Approach: Brainstorming
Finding the perfect brand name will not be simple. Many business owners become confused when brainstorming, and this can cause their entire naming process to misfire.
One way to avoid confusion while brainstorming is to create a naming team to help you brainstorm perfect brand names. Your naming team can include family members, coworkers, or even your staff.
Share every necessary information about your business, brand’s identity, and industry with them. This way, they can be more efficient in selecting the ideal name that aligns with your brand’s purpose, vision, and objectives.
- The Short Approach: Using a Strong Business Name Generator
Unlike brainstorming, using a business name generator is a less stressful path to naming that’d offer you lots of options with minimal time and effort. Also, a strong brand name generator would give you access to well-thought names with available domain names and social media handles.
But before you start words with a name generator, be sure you’ve researched your brand and have a clear idea about what your clients want and the kind of name that would draw them to your business.
Don’t Forget to Test and Trademark Your Name
After finding a word that aligns with your company’s needs, the next thing you must do is test with your target audience to ensure that they love it. If they don’t, return to brainstorming or your name generator and find words that resonate with them.
But don’t stop with testing your brand name; get it trademarked with the USPTO to prevent other brands from encroaching into your branding space.
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.