A lot of entrepreneurs are confused about success. They believe that their business’s success only boils down to how awesome their products or services are, how cool their app is, or how well they follow every business guru to a “T.”
But this is not the case because the success of every business depends primarily on how strong its branding is. This is the reason Tesla gets stronger while Nikola weakens, and also why Amazon has become the leading online store for all our shopping needs.
Now, the first step to building a solid brand that catches the attention of customers is by getting your business a powerful brand name. The right name can empower your business with all the tools and freedom it needs to bring your dreams to life.
So if you’re getting ready to start your business, here’s a quick walkthrough on how you can get the best name that’ll help your business stand out in the market.
How the Perfect Name will Boost Your Business
We wake up from Kittaneh’s Amerisleep mattress, pick up Steve’s iPhone, open Zuckerberg’s Facebook, and drive Elon’s Tesla to work.
These brand names have carved themselves into every aspect of our daily lives, and that’s why every entrepreneur looking to make a mark in their industry must find the perfect name because it’d help them:
- Build their brand’s identity
- Stand out from the competition
- Attract more customers
- Build a bond with their customers
- Encourage referrals
- Boost sales
- Reduce the cost of advertising
- Attract exceptional employees
These just go to show that the perfect brand name is like chilled water to a thirsty man in a desert. And that’s why you must invest the time, attention, and resources in finding the best name for your business.
And the right way to go about that is by:
Knowing Your Business and Customers
Before finding a brand name, you need to have a deep understanding of your business, your services and what makes it special, your target audience and what they need, your competitors, their services, and what makes their products special.
This would help you decide the tone of your brand name, whether it’d be fun, powerful, pragmatic, intriguing, or modern. It will also provide you with the inspiration you need to easily get the best name for your business.
The next step to finding a name that your target audience can quickly connect with is by knowing the message that your brand name should communicate with them.
And you can do that by writing a simple project statement that reveals the principal ideas of your brand name. Follow these examples:
- We need a sophisticated name that instantly evokes images of a high-end music label.
- Our brand needs a name that’s both informative and different from our competitors.
Finding the Core Ideas of your Brand Name
You’ll need to know what thoughts and ideas you’d like your name to represent. We usually urge entrepreneurs to focus on articulating one or two fundamental core ideas that are crucial to their business, culture, and values rather than concentrating on the descriptive side of their business.
So, try to narrow down all the many ideas for your brand into three to six words or themes that are most important to your business, and those you want your target audience to instantly associate with you.
Watching Carefully for Traps
Once you’ve decided on the goal, theme, and style of your brand name, it’s time to get yourself together, grab some refreshments, and start brainstorming your business name.
But, while brainstorming, be aware of the tricky areas that need to be avoided because, with so many factors involved, you can easily fall into a trap that’ll affect the quality of your brand name. So, make sure you avoid traps like:
- Single English words
- Power-related words like united, iron, and force
- Symbolic words like shine, rocket, and bridge
Brainstorming the perfect name for your brand can take a lot of time. So, to help your brainstorming session go more smoothly, assemble a team, discuss your business with them, and inspire them to come up with as many creative and unique name ideas as they can.
Allow your team to experiment with as many ideas as possible, because the most bizarre ideas may just spark the best brand names.
However, if coming up with the perfect name sounds time-consuming and you don’t have a team to help you, then using a trustworthy business name generator is the way to go.
Our Final Thought
We’ll leave you with this thought: A business that consistently grows until it brings in $1 million annually in sales, would repay a $1,000 investment in a naming project if the resulting name raised the company’s total income by only 0.05% during those four years.