The following blog post will cover how to choose a product name for your company.
You want it to be catchy, memorable, and unique. It has to represent the essence of what you are offering but also be easy enough for people to remember when they hear it or see it.
I’ll talk about some steps you need to take when choosing a name so that you can get started on branding.
This includes coming up with lots of ideas first then judging their worth later as well as considering how others might perceive the name.
7 Tips to Choose a Name for a Business
Brainstorm with friends, family, or coworkers
Brainstorming with friends, family, or coworkers can be a fantastic way to come up with ideas. One of the other benefits of doing this is that it’s possible you’ll gain some good feedback from people who know you well.
You can also try brainstorming with people who are working in your industry. The more people are involved in the process, the more likely it is that you’ll find something perfect for your company.
Write down anything that comes up in conversation or seems fitting
It’s very likely there was something mentioned during discussions that came up during brainstorming sessions that would be fitting for your company. Write down anything that seems fitting, even if it may not have been initially what you had in mind. You might be able to repurpose an idea or turn it into something creatively different.
Narrow down list of names
Now is the time to narrow down your list of names. If you’re not sure where to start on this part, try focusing on eliminating any that don’t fit your needs or just sound plain awful. This will give you a clearer picture of what name would be perfect for your business.
Try narrowing down this list of names by eliminating any that don’t fit needs or just sound plain awful!
Try testing out some names on a focus group
One of the best ways to determine if a name is going to work for your company is by getting opinions from others. This can be done in a variety of ways, such as asking family and friends what they think or even running a small focus group where you have them do something that captures how they perceive your business.
You can also show them some logos from other companies that sorta capture the same idea and see which one resonates most with people. If you believe branding is just as important as other aspects for your company, it may be worth the time and effort to get their opinions early on in the process rather than later on when you’ve decided which paths to take.
Consider if you want to go with a brand name
It’s important to note that some companies prefer the option of not having brand names, which is when the company name itself acts as the brand. If you choose this path, it means you’ll need to create an image where people will know exactly who your business is based on your logo alone.
Branding helps make things easier when it comes down to marketing your company or promoting your products because potential customers already have an idea in their heads of what the overall concept is like.
This option may be more cost-effective in some cases since there aren’t multiple costs with branding compared to creating a good logo, but only you will be able to determine if it’s worth the hassle for your business.
Consider how you want others to perceive the name – is it playful or serious?
If you’re looking for something more than just a name that fits your needs, another important factor of choosing a name is knowing what emotions or feelings it seems to evoke when potential customers hear about it.
You may not want people associating your business with being informal yet professional while trying to appeal to both men and women equally. This can all play into the overall idea of the company image and how people are going to perceive your brand in general.
It might also pay off in some cases where you reserve certain names for certain products while others are for other products. Try testing out some names on a focus group to get their opinions and see which ones seem the most appealing.
Consider an acronym
If people seem mostly indifferent about them or think they’re okay but not great, talk about different ways you can make them work without it sounding too forced.
People shouldn’t need to put an acronym into Google to find out what it means because that’s something that should be relatively simple to figure out by just hearing the name spoken or read.
Some examples of good acronyms include HARP (Home Affordable Refinance Program), ENERGY STAR, and POPSICLES (Providing Opportunities for Personal Growth through Sports, Inc. Little League).
Some examples of bad acronyms include NFC (Near Field Communication) and DADT (Don’t Ask Don’t Tell)
Companies can benefit from having names they can call their own for whatever they’re trying to market or sell to people. It doesn’t necessarily mean it’ll be the only word used when you want to describe your company or what it does, but at least potential customers will know who you are talking about if you say something like “My new business is called Sally’s Shoes.”
Everyone knows what “Sally’s” means even if they’ve never heard of your brand before. You may want things to be a bit easier to remember as well such as the name of your business being easy enough for people to instantly recall when they think about it.
Businesses need to consider what they want their business to be known for and how they want people to perceive them before choosing a name. This will influence what kind of mood or feeling the consumer gets when they see the company’s logo or hear its name, which can help pull people in or drive them away.
For example, if someone likes spicy food, but doesn’t like beans, calling your restaurant “Spicy Beans” might not be the best choice unless you plan on giving out free antacids with every purchase.
Remember to keep within your budget when registering your new business so don’t spend more money than you have to. If you find out that your perfect business name is already taken, try changing the wording around or adding a subtitle that will help differentiate it from similar businesses.
Keep these tips in mind when looking for company names and you’ll soon be on your way to finding something awesome!