It’s no secret that business is the lifeblood of the economy and that the success of any great business is based on customer trust: earning it and keeping it. One quick way to establish this trust is by giving your business an appealing brand name. Today’s we’ll be looking into how to find the perfect name for your brand, so keep reading!
Entrepreneurs must establish customer-brand trust. Why? Because within 90 seconds, purchasers make an unconscious choice as to whether or not they trust your organization enough to purchase your products.
Using an appealing brand name like Shopify or Robinhood is one of the simplest ways to establish trust early on. But that’s not all; just the same way a great name can boost your business, a terrible brand name can have long-term consequences for your business, threatening its success.
As a result, you’ll need to devote the time, effort, and skill required to come up with the best business name ideas.
What are the advantages of having a great brand name?
Because you’ve developed a fantastic service or product that will please your clients doesn’t mean you won’t need to get a great brand name that’d help you compete with other firms, outshine them, and capture your target customers’ interest.
Here’s a quick look at what a quality brand name can achieve for your company:
Attract talented employees to your business.
Attract the interest of your intended audience.
Cuts the amount of cash you spend on marketing.
Aid you in developing a distinctive brand identity.
Create a favorable relationship with your audience.
Strengthen the reputation of your company.
Increases the revenue your company generates.
Now that you understand exactly why your new company needs a solid name, we’ve put together this set of five fundamental steps that will help you get started but first, you need to understand what are the underlying qualities of a great brand name.
Four Key Qualities of a Great Brand Name
Several entrepreneurs have often wondered how to spot the core qualities of a great brand name. If that sounds like you, then know that the critical feature of a powerful brand name is that it C.A.R.Es. That simply means that the perfect brand name for your business is:
Great names aren’t only informative; they’re also suited for the business they reflect. The best name is at the heart of the company, helping and laying the groundwork for a number of important elements.
If you want people to think of your firm as a serious and trustworthy company, using a silly brand name is not a smart option.
Customers are impressed by great brand names because they not only pique their interest but also make them want to share them with their peers, relatives, and coworkers.
Don’t trap your brand with those companies that choose names that are hard to say and pronounce because customers generally find those sorts of complex names dull and unappealing.
Businesses with exciting names are easier to market. That’s because great brand names remain in people’s minds for so long and are so much quicker to recognize than bland ones. Therefore, ensure you pick a superior brand name for your business as it will help boost its growth opportunities.
Learning how to find the perfect name for your brand will generate a positive reaction from your target market. So, be sure your business’s name can stir a positive emotional response from your customers since it will trigger customer appeal, inspire powerful feelings, and motivate them to care about your brand.
Understanding the four key qualities every great brand name possesses would give you a good idea of what to look for as you start crafting your brand name.
With that said, here are five paths to crafting the most compelling brand names.
The first stage in creating a strong brand identity for your organization is determining your brand’s identity, goals, and how you want customers to connect with it in the future. Do you want to be renowned for your innovative ideas, high-value goods, consistent dedication to innovation, or global reach and influence?
Finding the proper name is much easier if you have a strong vision of what you want your business to achieve.
Once you’ve identified your company’s long-term goals, the next phase is to properly assess these goals and choose a reasonable number that best reflects your business. These goals would form the driving concepts of your company.
2. Create an Engaging Brand Tone
Keep in mind that the strength of your brand’s name is only as strong as the mood it communicates. And that’s because your tone reveals the true essence of your firm.
Building a unique tone that is aligned with your company’s principles is the most effective strategy to impact how potential consumers view your brand. Also, assess your competitor’s brand tones to see what’s prevalent in the industry and if you’d rather stick to the norms or start a new trend. Keep in mind that consistency is key when projecting your brand tone and every email, down to your invoices and feedback requests, should be aligned. If you’re looking for some inspiration, check out the template kit below!
So ensure you devote as much time as needed to learn about your customers: who they are, what they are doing, and what they want, as this will help you establish if your business’s appropriate tone should be:
Practical or pragmatic
Modern and innovative
3. Select Your Brand’s Elements
It’s great to have a unique tone, but you’ll need to figure out what your company’s branding elements are as well. Want to learn what purpose your branding elements serve? These elements, for starters, serve as a basis for creating effective business name ideas.
With this in mind, grab a paper and jot down your company’s:
Big Ideas: What are the most significant concepts in your company?
Values: Are there any values your intended audience holds dear that your business represents?
Story: Is there a backstory behind your company that the general public can connect to?
Market values: What distinguishing values do you represent in your sector?
Benefits: Do your products or services provide any benefits to your target market?
Feelings: What emotions do you want your clients to experience?
Value proposition: What distinguishes your brand from the competitors’?
4. Prepare a Project Statement
Compile all of the information you’ve acquired so far about your brand and use it to produce a detailed project statement that defines the type of name you desire for your business.
To help you start, here is a sample project statement: “I’m searching for a striking name that expresses passion and confidence. The name should be intriguing, appealing, and embody independence, fun, and accomplishment.”
Your project statement is a great indicator of the attributes that your company’s ideal name should have.
5. Organize a Brainstorming Session With Your Naming Team
When learning how to find the perfect name for your brand, your creativity is a key asset. This is the time to pull out your notebook and start thinking about fresh brand names that are unique, fascinating, and creative. Look through the internet, dictionaries, and thesauruses for words that are attractive, catchy, and fascinating enough to satisfy your company’s name criteria.
Whether you brainstorm or use a business name generator, make sure you come up with a long list of words that connect to your company’s personality.
Trademark your name with the USPTO
Once you’ve researched, tested, and confirmed that your selected name is appropriate for your target market, file a trademark application with the USPTO. With this, you can restrict other firms from using the same name as your business.
The takeaway on how to find the perfect name for your brand
Your brand name should tell your customer what your fundamental values are. Consistency in executing these values is what leads to a great customer experience, and that doesn’t just apply to the actual work. It starts with your booking confirmation and only ends with the final feedback request. If you’re looking for some help to get started, click below and download our communication toolkit!
Grant Polachek is the head of branding for Squadhelp, 3X Inc 5000 startup and naming agency. Squadhelp has reviewed more than 1 million names and curated a collection of the best available on the web today.