Many people believe that when it comes to starting a business, ‘everyone can do it,’ but how many people succeed in creating a great company? Not much.
Growing a business from just an idea is no joke. It involves tons of painful sacrifices, mistakes, failures, and golden lessons. Stats show that 20% of startups fail in just their first year and the mortality rate increases to 50% by the fifth year.
To top it off, the intense pressure of balancing their job, business, and life are so overwhelming that entrepreneurs often forget the essential things that directly impact their business’s success. And one of those is finding the perfect name for their brand.
So, if you’re interested in finding the perfect name for your business, then you’re in luck because we’re about to reveal the best way to go about it.
Table of Contents
Here’s Why You Need the Perfect Name
Just like our names define us and give us special rights and privileges, your brand’s name can positively define your business and provide certain unique benefits that other brands don’t have.
The perfect name can:
Attract Your Target Customers
Although customers are everywhere in the market, not all customers are yours. The biggest mistake most businesses make is picking a faulty name that cannot attract their target customers.
So make sure you get the perfect name because it’d attract customers wholly dedicated to your brand, customers that’d refer your business to others, invest in it, and propel you to fast success.
Create Buzz Among Your Audience
Brands with the perfect brand name sell themselves because customers would be excited about them and infect the market with their enthusiasm.
Creating buzz is one way Elon Musk grew most of his startups. The right amount of excitement from customers has pushed most of his lofty ideas to quick success.
Distinguish You From Your Competition
The shelves of every store are filled with similar products that offer similar services. So if your business and its products must stand out, it needs the perfect name that’ll communicate something different, something unique.
This is How to Find the Perfect Name for Your Business
Courtesy: Unsplash
Your business stands to gain a lot from finding the perfect name, so with the intense competition in the market, don’t be the entrepreneur that gets left behind. Follow these steps to get started on finding the perfect brand name for your business.
- Know Your Target Audience
Your success depends on whether your audience appreciates your brand and the services it offers. According to CBInsights, 42% of small businesses fail because there’s no market need for their products.
Today, the most successful brands are those that understand the genuine desires of their customers. That’s why famous entrepreneurs like Steve Jobs and Jeff Bezos place customer satisfaction way ahead of profits as their primary responsibility.
Bezos takes this a step further by having an empty seat in all his board meetings to create the impression in his team that their customers are always represented.
A good understanding of your core audience will help you tailor your brand in a way that aligns with your audience. It’ll also help you determine if your brand should be modern, classic, pragmatic, intriguing, or playful.
- Get in On the Right Foot
Now that you’ve got an idea of your audience’s needs, it’s high time you show them that your brand represents their best interest. And the best way to communicate this is by capturing the essence of their needs in your brand’s name.
Now don’t stop there; make sure this essence is incorporated into your company’s culture, values, and branding. This level of consistency is what would make your business authentic.
- Brainstorm: Search for the Perfect Name
Courtesy: Unsplash
It’s time to turn your creativity on and begin brainstorming the best name for your business. Look through dictionaries or thesauruses for words that align with the core principles of your brand.
Now, understand that this process can be very demanding in energy, concentration, and discipline. So, prepare yourself before beginning your search for the perfect name. Get some drinks, creative music, and whatever helps you generate great ideas.
Don’t feel compelled to walk this road alone; get a team. Discuss your audience, your business, and the kind of name your business needs. Try to remove all limitations to their creativity because that’s a sure way of getting the best from them.
But, if setting up a team is too much trouble for you, then use a strong brand name generator. Using a business name generator could set the spark that you need to find the perfect name.
- Look Before you Leap
Hold on! Before you go with Mark Zuckerberg’s mantra, “move fast, break things,” you need to be aware of the danger zones in naming. Businesses that ignore these end up suffering damning consequences that affect their brand, vision, tone, and purpose.
So, avoid:
● Single English words: A lot of them are already trademarked
● Generic words like icon, force, and United
● Symbolic words like Bridge, Spring, and Rocket
Instead, stay on the safe side by making sure whatever name you chose for your business is not only easy to say and spell but also sounds appealing.
Finally: Test your Name with an Audience
Now that you’ve gotten a quick idea of how to find the best name, it’s time to take the last step by testing your name with an audience to ensure that your customers would quickly love and connect with the name you’ve found.
About Carson Derrow
