Executive Chronicles | Here’s How to Get the Right Brand Name for Your Startup | When it comes to something as crucial as naming your company, there will always be a degree of pride that arises from choosing the most suitable name that can offer its expected results.
And, though choosing the right name for your company is never a piece of cake, getting it just right can increase your company’s likelihood of success.
Getting a suitable name is the first phase of efficient branding, which is the most essential element of establishing a top-performing firm.
And, as tricky and confusing as choosing a business name can be, there are various ways to quickly discover the best business name ideas that’d be an exact match for your company. That’s why, today, we’re going to show you four important factors you need to understand, so you can quickly select the ideal name for your firm.
When Naming Your Startup, These Are Four Important Factors to Consider
Have A Strong Goal For Your Company
Understand that the initial step in building a solid brand for your firm is to establish your company’s goals. Look for well-defined fundamental concepts that represent your company’s objective, mission, and desires.
After you’ve identified these concepts, which should cover the extensive goals your company wants to achieve, ensure you come up with some words or phrases that clearly communicate them.
Examine these words critically and select a handful that best describes your startup. These will serve as the framework for your company’s branding.
Give Your Company a Consistent Tone
The tone of your brand’s name determines the marketability of your business. It also provides clients a feel of the soul of your company. If done right, your brand tone will attract a broader customer base; it could scare them away if done badly.
Adopting a lively tone that is suited to your firm’s goals is an excellent method for shaping how your customers see your company.
Concentrate on assessing your clientele and finding out about their crucial traits, what they do, as well as what they value, as this will equip you with a detailed idea of the tone you should have for your brand.
Assessing your target market can assist you in identifying if your company’s tone will be:
- Pragmatic or practical
- Fun and Playful
Build Your Business’s Brand Elements
If you’ve completed steps one and two, know that you’ve made great progress, but the journey to finding the perfect name isn’t finished since you’ll need to build your business’s branding elements. Besides playing an essential part in the naming process, your brand’s elements form a vital part of your brand’s identity.
Customers will mistake your company’s identity if your brand elements are flawed; hence these elements are essential for creating superb name ideas. The quickest and easiest way to form your brand component is to develop your firm’s:
- Big ideas: What major concepts power your startups?
- Values: What are your company’s moral or business values?
- Story: Do you have a compelling story about your company?
- Benefits: Will you provide your clients with any additional rewards?
- Emotions: What emotional responses would you like your audience to have?
- Value proposition: What makes your business different, and why should customers care?
Begin Pondering Names With Your Team
Considering all of the facts we’ve addressed above can help you know the kind of name your business needs and make it a lot easier to develop the perfect brand name.
Gathering a group, discussing your company’s naming needs, and brainstorming for a word that aligns with your business is a great way to find the perfect brand name. And any businessman who wishes to develop a successful company ought not to be ashamed to get advice from relatives, business associates, and even staff. Recognize that anyone can assist you in creating brilliant ideas.
During the process of looking for an amazing name, you will be overwhelmed with both brilliant and horrible ideas. But don’t hasten into approving or rejecting any of them. Keep your cool and note down any ideas that spring to mind. This will afford you plenty of resources to start developing and screening the name choices.
Your Preferred Brand Name Should Be Tested And Trademarked
When you’ve decided on a business name, survey a small percentage of your customer base to see how they react to it. If they don’t accept it, try something else, as picking a name you feel is best is futile if your audience doesn’t embrace it.
After you’ve analyzed your recommended name and concluded that it’s satisfactory to your consumers, be sure to trademark it. This will restrict other organizations from reusing your perfect 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.