Your name is a huge part of your identity, so why would the name you choose for your Brand be any different?
Coming up with the right name for your Business is essential to standing out in today’s competitive marketplace and attracting the attention of customers and top workforce talent.
A catchy name can give you that initial advantage, allowing you to stand out from the crowd and stay in people’s minds.
First impressions matter and your business is no exception. While coming up with a name may seem intimidating at first, there is a proven philosophy that can allow you develop a productive name that will help you succeed.
Following the Squadhelp 7-Steps Naming Process, you can better understand the Unique factors that contribute to crafting a name that others will gravitate towards while efficiently branding your company.
Although a powerful name won’t guarantee success, it will make it easier for you to impact your market and make a lasting impression.
Align with your core values
What purpose does your business serve and why should people care? Identifying the purpose of your business involves reflecting on what your venture offers consumers and how you intend to affect their lives. Once you can successfully make clear what your project is all about, you’ll have taken the first step in discovering a great business name.
Choose a productive direction
Once you’ve detailed your company’s purpose, the next step is to decide on the naming style that will best fit your brand.
There are 5 effective brand name styles that great company names tend to fall into:
- Classic: perfect for anyone looking to establish a high-end brand
- Clever: descriptive and great for fun and playful brands
- Experiential: perfect for unique brands looking to describe a product/service
- Intrigue: unusual and out of the box names that support recall
- Emotional: invoke a deep connection through the use of emotive wording
Deciding which direction works best for your company will give you a sharp focus on developing your name to better ensure your success.
Two heads are better than one and a team is even better. Make use of other’s creative brainpower by putting together a team to help you develop a list of name ideas. Whether your brainstorming in person or over email, make sure to provide an encouraging, engaging, positive, and respectful environment.
Check for URL availability
The Internet is a fantastic way to establish your business online and in order to do that you need the right domain name. Before settling on a name, you’ll need to check that the domain is available and not already registered to someone else.
Conduct Audience Testing
Once you’ve decided on a name it’s important to get some audience validation. This involves unbiased third-party feedback on your final shortlist of names. Although there are no perfect names, a general audience approval is an encouraging way to know that you’ve found a name that will help you succeed.
Determine Trademark Risk
Running into legal issues at the very start of your business can leave you feeling discouraged. With a great deal of words in the dictionary trademarked to a degree, it is important to come up with a unique name and engage in the necessary due diligence to ensure that it’s available for use. This means consulting with legal professionals and searching through the federal trademark database to determine if a name is already registered.
Check for linguistics red flags
There’s nothing worse than finally deciding on a name only to find out that it doesn’t translate well into other languages. With our globally connected world, it is important to look out for any linguistic issues that might make your new business name highly offensive or just off-putting when translated.
A name can make a difference! Apple, Zappos, Twitter, SalesForce, PayPal, Uber, Google, Airbnb, Accenture, Costco, Squatty Potty, and Dollar Shave Club are all examples of companies whose names have helped them succeed. If you’re at this critical stage, using these 7 steps as your guide to creating a productive name for your venture can make all the difference.