Struggling to find catchy business names?
You are not alone. In fact, even if you haven’t planned a business yet, you could imagine how hard it can be. Naming a business is the same as naming your newly born baby or your new pet. You might have a long list of names but in the end the one you’ve chosen isn’t from your initial list. It tells so much about what your business does and what’s in it for your market.
Your business name has to already make an impact to customers once they heard it.
The process of naming a business
If we ask you to think of a company under 3 seconds, will you ever think of a business name that’s as long as supercalifragilisticexpialidocious?
Definitely, NOT. And if there is someone who could think of a business name like that, they only make less than 1% of this world’s population.
Many business owners are known under initials because using their business names are hard to remember. A very amusing example is Yahoo’s name. Did you know that Yahoo stands for Yet Another Hierarchically Organized Oracle? Now imagine if Yahoo didn’t use its bacronym when they renamed their business name.
The process of coming up with business name ideas is harder than the business conceptualisation. Lucky are those who had their business name spark into their minds in a split of a second. Generally speaking, it takes more than having a creative space in this process.
Naming your business isn’t the same as registering it; there are no definite steps you need to follow. However, there are ideas you can do to get into your creative space. So, take a moment with us and grab a cuppa whilst we give you the best insights for when naming your business.
Generating Business Name Ideas
- List down your three main business goals. Using these goals, write down adjectives that best describe your business
- Brainstorm with your team and/or colleagues outside work
- Do a market research – whether be it on Google or simply asking the public
- Take note of your interests that are similar to your audience
- Travelling is also helpful if you want to open your eyes wider and get never-before-seen perspectives
Quick tips you must keep in mind
- Never use jargons that majority from your audience won’t understand
- Do not include a name of a place – the possibility of expanding your business across the region isn’t impossible
- Use a keyword that is aligned to your business to be easily found by Google especially if you aspire of going global. There are companies that offer keyword research service to help you in this area
- But never name a brand purposely for SEO – some keywords may look awkward to represent your business
- Avoid complex spellings or changing some letters of another brand’s name
- Never choose generic, descriptive or too literal name – it won’t make your brand stand out the way it should be
Benefits of a brilliant business name
Time spent naming your brand pays off when it holds strong value for your audience. Many businesses have succeeded because of brilliantly made brand names. While there are unfortunate business owners who didn’t reach their projected ROI because brand recognition isn’t strong.
If you have done well in naming your business, you will reap these benefits in the near future:
Brand jingles are created so target audience will remember a particular product or service easily. But what’s better than not needing it when the brand itself can be easily remembered. Whether your target audience will patronise your product or not, they will mention it to their colleagues on casual conversations.
We bet there’s no business owner who doesn’t want a word-of-mouth marketing. For you to have it, people must remember your product in a split of a millisecond once asked about the best brand they ever have.
The fast-paced rise of technology has made people more critical in terms of originality. They love sharing ideas that are idiosyncratic. The next thing you know, you are trending on social media.
The originality of your brand name sets the tone of giving additional and unique value to customers. It gives an impression to your customers that patronising your products and/or services will make them stand out among the rest – in many different ways. Again, do not tweak your competitor’s brand name because people nowadays are too smart to find out you’re a copycat!
Is your offer for the millennials or professionals? Does it connote happiness or cravings? Hearing your brand name must be able to signify the right emotional connection to your audience. For example, the brand LinkedIn tells you about growing your connections. Burger King gives an impression of big burger servings which makes you crave for it.
There are times when we call a product using a brand’s name rather than a generic label. Imagine that when buying a soda and you call it Coke instead.
The business name’s influence to brand awareness opens the opportunity of expanding regionally – and when you’re lucky, globally. It can impressively differentiate your product. It positions your product to the characteristics you want to be known for. This awareness directly impacts a buyer’s decision because an emotional connection has been established.
There are companies who became successful while having their business names included in our daily vocabulary. On the other hand, there are businesses which had the needs to take legal action to re-name their establishment. Doing so could mean spending millions of dollars – marketing, research & development and organisational departments affected by the change.
So, before launching your business, take your time to come up with as many catchy business names as you can. It can take a while but you’d rather delay the launching than address the challenge of failing just because you named your business incorrectly.