A company name is the initial introduction of the business to the outer world. Brand names have a deep impact on how people perceive the brand, therefore they must be chosen carefully.
Brand names can be explanatory such as Toys” R” Us, elusive like “Apple” or named after famous historical figures. Businesses must choose a name that is impactful and memorable for potential clients. Business owners must consider some ethical considerations while setting up businesses in foreign countries. Some words have dual meanings in different countries therefore proper research shall be conducted before naming a business. For example, a business setup in Saudi Arabia should not have a name or display a picture that compromises the cultural or religious beliefs of its people. Therefore, pictures and advertisements containing visuals of pigs should be altered according to Saudi norms before they are published.
Important Factors to Consider While Naming a Business
Choosing the perfect brand name can be a tedious task as it is a lifelong name that will be associated with the business. Therefore, it should be given proper time and consideration. Businesses must consider the value their products will bring to the consumers while naming their business. It helps them evaluate their business in comparison to their competitors and come up with a name that sets a standard for customer expectations. A powerful and impactful name with sophisticated branding automatically raises customer expectations and gives the impression of a high-end brand.
Some important factors to consider while choosing a brand name include,
- Clarity – The name should sound like an enterprise or a company.
- Should be catchy enough to be remembered for a long time.
- Simple and easy to spell
- The name should not be too trendy and have a timeless approach.
- The name should enable SEO?
- It should have a universal/global approach
- Should be distinct to the business
Choosing the Perfect Brand Name
The following steps can help narrow down the name choices for businesses
Defining the Brand
Reflecting on your brand is the first step in choosing the perfect name for the business. The tone of the business, identity, and positioning are important factors that must be considered while choosing the name. A well-researched target market also helps in the selection process. A brand name for millennials will have a different approach than that focusing on the baby boomers.
Name Criteria
Business owners should list down their expectations from the brand name. They should have a clear understanding of how they want people to associate with the brand and what feelings shall the brand evoke. Other specifications such as uniqueness and simplicity shall also be included in the list.
The list will enable businesses to reflect on their core requirements while experimenting with names later.
Brainstorming
The next step in the naming process is brainstorming. Allow yourselves and your teammates to let loose and have a causal discussion over potential ideas and gather different perspectives for tapping the target market effectively with a synchronized and relatable approach.
After a casual session, a structured meeting can be conducted to draw closer to the branding process. Businesses must consider the names of their competitors in their niche and study how their branding reflects their customer base. This will further provide clarity to the company in choosing the perfect name concerning the brand identity.
Helping Tools
Online tools such as a rhyming dictionary, thesaurus, or websites that help create a brand name help come up with relevant names for the company. But they must not solely be relied upon to avoid overlapping as all the internet users have access to these tools.
Audience testing
Once a name is finalized it should be tested among the target market to gain feedback and uncover any negative connotations that the business would not like to be associated with.
Availability of a Name
After a name has been chosen, it must be checked through various resources for its availability, i.e. to make sure that it is unique and does not overlap with any other business or company.
The following steps help check for availability.
- Begin with a simple Google search.
- Search on the Bluehost domain engine.
- Search social media pages and use applications like NameChk.
- Search the U.S. Patent website through its Trademark Electronic Search System.
If the business aims to expand internationally then it must search its brand name among the resources of the World Intellectual Property Organization.
