By Grant Polachek | Head of branding at Squadhelp.com
Although there are several misleading facts and misconceptions about businesses out there—like how some people genuinely believe that business owners only want to make money—it’s no longer news that businesses are the foundations holding up the world’s economy.
And any small business or mega-corporation that wants to succeed must rely on building great trust between its brand and its customer. And one sure way of building customer trust in your thriving business is by getting a compelling brand name – aka. the best brand name.
Build Your Business on Trust
Establishing customer-brand trust is one of the essential considerations for startup owners alongside strategic thinking and business planning.
Why? Because buyers subconsciously decide whether or not to trust your company in 90 seconds.
And although using great brand names like Amazon, Pepsi, and eBay effectively establishes trust, using an unappealing brand name like ‘Pee Cola’ and ‘WeAretheSuperlativeConspiracy’ will have long-term negative effects on your company.
Consider successful companies with appealing names like Instagram and Gucci, and you’ll see that gaining the trust your business requires to succeed is challenging without the right name for your company.
So ensure you invest the necessary time and effort in coming up with catchy and exciting company name ideas.
What are the Benefits of Having a Great Brand Name for Your Business?
Just because you’ve produced an excellent product or service that will wow your consumers doesn’t mean you won’t need to get seriously involved in your industry, compete with other businesses, outperform them, and win the love of your target customers like Tesla.
Understand that in the corporate world, competition has always been fierce. And the reality that 17 million businesses are expected to enter the market in 2022 is a cause for concern, especially for new companies, because it implies greater competition.
And with millions of companies being launched every year, it’s no wonder that the average end-user sees between 4,000 and 10,000 advertisements each day. Not to mention that a large portion of these ads will originate from your core rivals.
So, in addition to pushing the dial when it comes to producing outstanding products and offering excellent services, your firm should leverage the power of a memorable brand name, like Twitter or Mastercard, to highlight your exceptional traits.
Here’s a rundown of what a good brand name can do for your company:
- Attract a skillful workforce to your business.
- Win the love and attention of your target audience.
- Reduce the amount of money you spend on advertising.
- Assist you in establishing a compelling brand identity.
- Form a positive connection with customers.
- Enhance the image of your company.
- Increase the income of your company.
Now that you understand why your new business requires a strong name, we’ve put together a set of five steps to help you get started with finding THE best brand name ever. But before we get into that, you need to know what traits the perfect name must-have.
Four Characteristics of the best brand name out there
Most entrepreneurs just starting their business look for the best brand name ever are curious about what makes a name the best option for their business. If that describes you, then remember that the most crucial characteristic of an excellent brand name is that it C.A.R.Es.
To put it differently, perfect names are:
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Contextual
Perfect names are not only descriptive but also appropriate for the company they represent. The perfect name is at the center of the business, supporting and setting the tone for various vital features.
It’s not great to have a goofy brand name if you want clients to think of your company as a serious and trustworthy venture.
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Appealing
Great brand names entice customers because they stimulate their attention and make them want to share the brand with their colleagues, relatives, and friends.
Don’t be one of the companies that choose difficult names to pronounce and spell because those names are often unappealing to customers.
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Remarkable
Excellent brand names stay in people’s minds and are much simpler to recall than basic ones. Businesses with memorable names are easier to promote and receive positive feedback from their clients.
As a result, make sure you choose the greatest brand name for your company because it will help with its growth and success.
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Evocative
The perfect name for your company will never fail to induce a strong positive reaction from your target audience. And that’s why you must ensure you pick a name that’ll help your brand stir customer appeal, provoke strong emotions in your customers, and inspire them to think positively about your brand.
Understanding the four main elements that every excellent brand name contains will provide you with a decent notion of what to go for as you develop your brand name.
That said, here are the five approaches to creating the most memorable brand names.
Five Tips to Choosing a Catchy Name for Your Business
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Your Brand Should Have a Clear Vision
Establishing what your startup should be, achieve, and how you want people to identify with it in the future is the first step in building a strong brand identity for your firm.
Words have a lot of power. Every object in our environment has a name, and each name has a meaning as well as thoughts and ideas that we associate with it as we interact with it.
So, to effectively attract people to your firm, you must first decide what you want your startup to be recognized for. Do you want to be known for your ground-breaking ideas, fascinating products, unwavering commitment to innovation, or worldwide reach and influence?
Finding the right name will be complicated unless you have a strong understanding of what you want your company to accomplish.
After identifying the long-term goals for your firm, the next thing to do is critically assess these goals and select a few of them that best represent your startup. These ideas will form the foundation of your company’s identity.
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Establish a Brand Tone That is Both Effective and Exciting
Remember that the quality of your company’s name can only be as solid as the tone it expresses. The best brand name out there has to be aligned with who you are!
Your tone exposes your company’s actual nature. If done right, it will engage a large number of clients; if poorly done, they will turn away.
The greatest way to influence how potential customers perceive your brand is to build a distinct tone firmly linked to your company’s values.
As a result, spend as much time as you need to learn about your consumers; what they are like, what they do, and what they want, as this will help you determine if your company’s ideal tone should be:
- Emotionally impacting
- Modern and innovative
- Prestigious
- Practical or pragmatic
- Intriguing
While searching for the best tone for your business, don’t forget to analyze your competitors’ brand personality and tone because it would help you determine whether you want to follow the norms or develop a new trend in your niche.
Brands like Apple stood out to customers because they didn’t fit in with their industry’s norms at the time.
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Understand the Elements of Your Brand
It’s fantastic to have a distinct tone, but your search for a strong brand name doesn’t stop there; you’ll also need to determine your firm’s branding elements. Why’s this vital? For starters, these elements serve as the foundation for developing good business name ideas for starters.
Keeping this in mind, take out a notepad and write down your company’s:
- Big ideas: What key concepts drive your brand?
- Values: Does your brand represent any values that you or your target audience hold dear?
- Story: Is there an interesting story behind your business that customers can relate to?
- Industry specifics: What principles do you stand for in your industry?
- Benefits: What unique benefits would your customers gain?
- Emotions: What feelings would you like your clients to experience?
- Value proposition: Tell us about your business in one sentence.
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Build a Project Statement
Assemble all of the details you’ve gathered about your brand so far and use them to write a thorough project statement describing the sort of name you want for your company.
Here’s an example of a project statement to get you started:
- I’m looking for a unique name for my tech business that evokes boldness, confidence, and strength. The name should be fascinating and engaging, as well as convey pleasure, freedom, and achievement. It should also evoke feelings of dignity and majesty in customers.
Your project statement is an excellent indication of the qualities that the ideal name for your company must possess.
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Organize a Brainstorming Session
Now would be the time to get out your notepad and start brainstorming new brand names that are original, unique, and intriguing. Open your dictionaries, read through your thesauruses, and scour the internet for words that are appealing, catchy, and interesting enough to fit your firm’s name requirements.
Don’t hesitate to ask family, friends, or even coworkers for help. Gathering your naming team, going over your brand’s project statement with them, and using their help to discover unique and memorable name ideas that will distinguish your organization is one of the best steps to quickly finding a memorable name.
However, don’t quit if you or your team run into a creative block. Using a great company name generator remains the best way to ignite your creativity.
Trademark Your Name With the USPTO
When you’ve tested and confirmed that your audience loves your chosen name, be sure to register the word with the USPTO. By trademarking your company’s name, you can prevent other companies from having the exact name as yours.
About the author:
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.
