It may come as a surprise to learn that just 10% of start-ups make it through the start-up stage, and only 1% of those ever become successful. Businesses all over the world are looking for whatever advantage they can get.
However, in their quest for a competitive advantage, many entrepreneurs overlook the importance of establishing a strong brand name for their company.
Strong brand names allow companies to gain quick exposure, which is why every start-up that wants to flourish must choose the finest name for their business. And we can assist you in doing so.
Brands Perform Better with the Perfect Name
Great names are successful because they are memorable and stick in the minds of those who hear them, making it easier to promote these brands.
One of the most crucial things your company needs to succeed in the long run is a solid brand name. This is because the perfect name leaves a lasting impact on your customers. It gives your customers a quick indication of your brand‘s worth.
But that’s not all; an excellent name can help you:
- Attract dedicated customers
- Create an emotional connection with your customers
- Boost customer referrals
- Attract the best people to work with you
- Improve the sales of your products by generating excitement in the industry
- Minimize the cost of marketing
With that said, let’s get into how you can find the best name for your business.
How to Find the Best Name for Your Business
Have a Thorough Understanding of Your Company
You must have a solid understanding of your business and its products if you want to build a company that provides great service. You can do so by compiling a list of all of your company’s fundamental principles and determining which are the most important.
Keep in mind that amazing brand names are born from great brand visions, simply because naming a brilliant idea is far easier than naming a bad one.
Also, understand what works and what doesn’t, since this will assist you in knowing what your organization needs to do to win the hearts of your customers.
Decide Your Company’s Tone
Understand that a name loses its potency if it fails to emotionally connect with its target audience, and this frequently happens when the tone of a brand’s name doesn’t resonate with its target demographic.
The tone of your brand has a direct impact on how consumers experience it, so make sure you know who your customers are, what they like, what difficulties they’re facing, what your company offers, and why they should be interested in using your products.
While you’re doing that, look into your competitors’ services to discover what they have to offer and how your business can exceed them by providing superior products and services.
Understand Your Brand’s Elements
Now, don’t only concentrate on your brand’s tone; also consider the pieces that make up your brand. Concentrate on your company’s major ideas, the emotions you want to evoke in your audience, your values, ambitions, and the advantages your audience will gain by supporting your brand.
Why? Because some of this information will come in helpful when you’re putting together a list of words that match your brand. The characteristics of your brand are crucial in guiding you in choosing a great brand name.
Get a Project Statement
Making a project statement will assist you in deciding on the best name for your company because it clarifies what your name should accomplish.
An example of a project statement is as follows:
- I need a compelling name for my tech start-up that symbolizes brilliance, knowledge, and expertise. It needs to be strong, memorable, and appealing to working mothers.
It’s time to let your imagination run wild and come up with words that meet your project statement. To make the branding process go faster, gather a team, and discuss your brand, its elements, tone, and project statement.
Challenge them to look through dictionaries and thesauruses to come up with the most original and imaginative names possible.
Your team should feel free to generate current, fascinating, or meaningful names. Customers are excited by wordplay, so coming up with a unique word combination for your business could be a winning tactic.
Using a powerful company name generator is great for any entrepreneur who neither has the time nor the team to help in generating a great brand name.
Test Your Name
You should have at least six names that meet your brand’s mission, vision, and goals after brainstorming. However, even though it appears that the simplest thing to do right now is to pick one at random, don’t do so until you’ve double-checked that it’s:
- Easy to say, spell, and remember
- Has a .com domain
- Audience tested
Get Expert Help
We’ve seen companies spend months looking for the right brand name, completely oblivious to the fact that the business world evolves quickly, and competitors are always improving. So don’t be scared to seek advice from a professional brand naming agency if you’re stuck anywhere in the naming process.
These organizations have a lot of expertise coming up with fantastic and appealing brand names that have helped major companies connect with their target audience, and they’d be happy to assist your company in finding the appropriate name.