When it concerns something vital, like naming your business, there’s a feeling of achievement that comes from creating the right name that captivates your audience and correctly positions your brand.
And though determining the best name for your firm isn’t always as simple as it sounds, getting it correctly can improve your business’s chances of succeeding.
Choosing an appropriate name is the first step to excellent branding. And solid branding is the most critical element of establishing a profitable company.
Now, as complex and stressful as naming a business can be, there are, fortunately, numerous methods for quickly discovering the best name for your company. And today, we’ll go over four critical criteria you should be aware of if you must choose a unique name for your startup.
Four Key Points For Naming Your Startup
Create A Clear Mission Statement For Your Company
Recognize that defining your company’s goals is the first step in building a strong corporate identity for your organization. You should seek well-defined ideas that mirror the objectives, desires, and goals of your business.
Once you’ve identified these ideas and understood their role in shaping your brand’s future goals and achievements, create a few keywords or phrases to describe them.
Analyze these keywords critically and pick a few that summarize your startup’s core ideas. These will act as the basis for your firm’s brand identity.
Set a Clear Tone for Your Company
The tone of every brand’s name influences the brand value of that company. It also allows customers to get an immediate impression of the soul of your startup. If properly done, your brand tone would attract a broader audience base; if done poorly, it could disappoint them and push them away.
An engaging tone that stays true to your company’s ideas effectively shapes how your audience understands and connects with your firm.
Spend time evaluating your market and learning about their key characteristics, what they do, and what they are passionate about, as this will give you a better idea of the tone you should use for your brand.
Researching your clients would help you determine if the tone for your startup ought to be:
- Amiable and inviting
- Fun and Playful
- Emotionally impactful
Generate Your Brand Elements
You’ve taken some significant steps, but your pursuit of the perfect name is far from over since you’ll now need to build your company’s branding elements. Your brand’s elements play an essential part in the name development process, and they also lay the foundation of your brand’s identity.
Your audience will readily misjudge your firm if your brand elements don’t align with their values and personality. Therefore, your brand elements make it easier to find great name ideas that’d instantly connect with customers.
And the quickest step to developing your brand elements is to construct your company’s:
- Big ideas: What are your organization’s main ideas?
- Values: What individual or corporate values does your company affirm?
- Stories: Do you have an exciting story about your company you can share?
- Benefits: Will you provide your consumers with any exciting perks?
- Emotions: What emotional experiences would you like your customers to have?
- Value Proposition: What sets your business apart from other competitors?
Start Brainstorming With Your Naming Team
Integrating all of the criteria we’ve covered above can help you find your company’s naming requirements and make it easier to find the best brand name for your business.
Brainstorming with a team can be interesting and fun, but it can also be tiresome. And any businessman who wants to build a powerful brand name shouldn’t delay getting comments from friends, colleagues, and even employees.
During the search for an excellent name, you will be confronted with both great and awful ideas. But don’t jump into accepting or discarding any of them. Keep your cool and note down everything that comes to mind. This will equip you with sufficient resources to develop and test the best name for your brand.
Select, Test, and Trademark Your Ideal Name
After you’ve chosen a business name, ensure you poll a small portion of your target market to see how they feel about it. If they don’t appreciate it, change it up because choosing a name you think is perfect is pointless if your consumers wouldn’t love it.
When you’ve reviewed your prospective name and established that it’s suitable for your audience, ensure you trademark it. This will keep other companies from copying your new business name.
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.