How to Find the Perfect Name for Your Business!

Perfect name

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Perfect name article and permission to publish here provided by Grant Polachek.

Most people used to agree with Julian Quinero that perfection is so far away that it’s only an opinion. 

But, even for brand names, perfection is no longer so far away. Hundreds, if not thousands, of brand names, have taken center stage in our minds whenever we consider a specific product.

Brands names like Google, Oreo, Kleenex and Super Glue have become synonymous with their products or services. 

These brand names have practically taken on a life of their own, and that alone is a strong indication that they are ideal for the products and industries they serve.

Every entrepreneur who wants to capture the hearts of customers in an industry must dedicate time to finding the best brand name that fits their business, grows with their product, and develops a distinct personality that’ll benefit their company.

And if you don’t know how to do that, then you’re in the right place because we’ve prepared this article to guide you on how to find the best name.

Why Your Company Needs the Perfect Name

The simplest approach to creating a memorable brand that your clients will adore is to find a strong and catchy brand name. That’s why, if your company must have a bright future, you need the perfect name because it can help you:

  • Increase your company’s overall value by helping it outperforming companies with difficult names on the stock market by 33%
  • Encourage customer referrals
  • Solidify your company’s position by helping you stand out from the competition
  • Influence and increase the loyalty of your target audience
  • Increase your company’s overall sales
  • Lay the groundwork for developing a distinct brand identity and company culture

Now that you know what a perfect brand name can contribute to your company, it’s time to figure out how to choose the best one.

5 Steps to Choosing The Right Brand Name

After you’ve created a wonderful product, the next step in developing a successful business is identifying the appropriate brand name that encapsulates your company’s essential principles. And the easiest paths to achieving this are:

1. Creating a Brand Image

Knowing what you want your business to be is the first step you must take when finding the best brand name for your company because having the appropriate knowledge of your business will impact your chances of success.  

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So, learn everything you can about your industry, rivals, consumers, and company. Knowing the core of your business, from your company’s aesthetics to your brand-customer relationship, can help you decide on the ideal brand identity to convey to the market.

After you’ve acquired this information, you’ll need to narrow down your ideas until you’ve extracted the essence of your brand, which will serve as the essential elements and foundation of your brand name.

2. Choosing the Right Brand Tone

What your brand becomes is totally dependent on how your target audience interprets it. And that’s why, in order to get the most out of your brand’s name, you need to make sure it establishes the proper tone, because most of the time, it’s not what you say but how you say it.

The right tone will set the pace for your brand and offer you control over its perception. Consider Gucci and Fossil, for example. Gucci appeals to those seeking high-end accessories, whereas Fossil appeals to those seeking long-term durability and functional excellence.

So think about your customers, what drives them to your brand, and why they should be thrilled about your company. That way, you’ll know if your brand’s tone should be:

  • Modern
  • Prestigious
  • Pragmatic
  • Playful
  • Emotionally impactful

3. Identifying the Key Elements of Your Brand

While having a consistent tone is vital in developing a strong brand identity, it is not enough. The building blocks you’ll need to develop great name concepts are your brand’s secondary elements.

Consider your brand’s secondary elements as the cornerstone that decides your brand’s identity because they play a big role in helping you put together your brand name. So, devote your time to put down your thoughts on each of the important points listed below:

  • Main ideas
  • Brand values
  • Brand story
  • Benefits
  • Brand Emotions 
  • Value Proposition 

4. Prepare Your Naming Criteria

Preparing your naming criteria is the next step after gathering all the information you need about your brand. So, develop a clear project statement that’d help you and others understand what you’re searching for in a name. 

Your project statement embodies your naming criteria and will help you stay on track with your overall brand naming strategy.

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Here is an excellent example of a project statement:

  • I’m searching for a name for a bakery that conjures up images of creativity, community, and delectable sweets. The name should be warm, inviting, and also mysterious.

5. Start Brainstorming for Lots of Names

It’s time to start brainstorming unique brand names. Look through dictionaries and thesauruses, as well as google searches and rhyme materials, for a strong brand name. The idea here is to come up with a list of five to nine potential solid brand names for your business.

However, don’t just go with any name while looking for the best name; focus on short, interesting, creative, modern, thrilling, metaphoric, or symbolic words that align with your brand and its naming criteria. 

And just in case you’re finding it difficult to come up with great name ideas, then don’t hesitate to use a powerful business name generator.

However, whether you’re brainstorming alone, with a group, or with the help of a business name generator, make the most of your brainstorming session by referring to our list of the best types of brand names.

  • Real words like Apple and Slack
  • Compound names like SnapChat, and SplitWav
  • Blended words like Groupon
  • Acronyms like HP
  • Metaphoric names like Nike and RobinHood

Test For the Perfect Name

Test the list of potential five to nine names you came up with during your brainstorming session with an audience to determine whether they like them. After you’ve run your list of names by an audience, pick the best one and double-check it with the USPTO to make sure another company hasn’t already claimed it.

Trademarking your brand’s name is the best way to safeguard your company from the legal complications that will arise from copyright lawsuits.

Author Bio:

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.

Perfect name article originally written for Supply Chain Game Changer and published on August 20, 2021.