A unique business name can make a huge difference in growing your customer base and brand loyalty, especially if you are operating in a competitive market space. While a valuable business name should be easily brandable, you also want a business name your target audience can relate to whenever they hear it.
Why Your Business Name Is Important
Your business name is the first point of contact between your potential clientele and your brand. A unique brand name should not only resonate with your audience but also set you apart from the competition. On the flip side, a name lacking in vision, creativity, and attention to detail reflects wrongly to your prospects and potential investors.
How to Choose a Unique Brand Name
We understand that choosing a business name isn’t as easy as it seems, especially when you are a new entrepreneur. You may think that you can screen a long list of possible business names with family and friends, but you’ll probably not get the desired results. This guide will show you how to choose a unique and valuable name for your company.
Here is how to do it.
Think of What Your Business Name Should Convey
Start by reviewing the essence of your enterprise. Consider your business plan, selling proposition, and your mission statement. Still, keep in mind what you learned about your target audience during your market research. Remember your business name will appear in your business cards, company logo, products, promotional material, letterhead website, and other multiple areas. If you are a service-oriented company, you may also decide to have a name that matches your services to make them recognizable by your prospective clients.
Brainstorm Business Names
Once you’ve had a sense of what your business name should convey, set aside some time to get creative. The more free-thinking and creative you can get at this stage, the more ideas you can have for a business name and the more possibilities you will have to choose from. However, you’ll want to be careful with the people you choose to help you out, because some may be upset if you don’t choose a name that they think is a great option. Consensus might also be a problem, so you’ll need to pick a small number of people who understand your business.
Think about the favorable names that describe the products or services you offer. Find a way to develop words that tell the difference between your products and other items offered by your competitors. Thinking of words that describe the benefits of choosing your products or services is a clever way of appealing to customers and showing a difference in your industry. You should also think of words that evoke feelings in your target audience whenever customers see your company name.
Although you have to keep in mind the essence of your business, don’t restrict yourself to specific ideas only. While brainstorming, remember to use Thesaurus to find related words or synonyms to help you get some new ideas. Leverage business name generators such as wordoid and Name Mesh to pop up a few more ideas. Other ways to start your brainstorming session include brain dumping, mind mapping, word association, and list-making.
Come up With a List of the Best Names
You can now create a list of names from the sessions you held and others that came up from your business name generator and word dump. If there are names that you don’t like or some that don’t resonate with what you want to offer, feel free to strike them off of the list.
Ensure that your business name is short, simple, and easy to write and remember. Note that most successful companies such as Google, Tesla, or Apple have short, simple, and easy to remember. Therefore, make sure you have a name that customers can easily spell out and associate with. This way, they can buy or use your services, and it’s also easy to refer others to your business. You should also avoid a too literal or too narrow name because you will have to change it in the future if you plan to evolve the company.
Additionally, make sure the name will still be suitable in case you think of diversifying into other products or services. For instance, if you want to start selling laptop accessories and later expand to selling other electronic accessories, have a name that isn’t restrictive. An ideal business name shouldn’t leave any doubt in the consumer’s mind. Finally, keep in mind that your business name will feature your products, logo, and other branded material and should be visually appealing to your target clients.
Confirm if the Business Name is Available
At this stage, you’ve narrowed down your search to a few names that you believe are an excellent option for your business. You now need to check the availability of your chosen business name. Make sure you don’t have a similar name to your competitor because it can confuse your vendors and customers. You’ll also expose yourself to possible litigation, making it difficult to obtain a trademark for your business. Intellectual property is valuable, so you’ll need to take the utmost caution, especially while choosing .com domains. Perform a domain availability search to get a domain name that is as close as possible to your company. Using business name generators, you can find a proper name with a dot com domain. Next, confirm if another business has a similar name by searching through the US Trademark Electronic Search System .
Register Your Business Name
Finally, you can now register your chosen company name. Registration is somewhat straightforward as you only need to check trademarks and follow the laws of your industry structure. The state-level is where things get done, where you file Articles of Incorporation. Once you choose your business name, you can also snag several domains from domain registers such as GoDaddy.
Successful businesses recognize the value of making a good first impression on their target audience. Picking a unique business name presents a huge opportunity to differentiate your business from the competition and convert more prospects.
At Affinity Studios, we understand the value of consistent communication in creating a lasting impression on your prospects. We tailor our design services to help you pass your marketing messages to your clientele in a clear, relevant, and concise manner. Get in touch with us today for more information about our design solutions.