Having a fantastic product is excellent, but one thing that plays the same role as the actual value a brand delivers is its perceived value.
It’s safe to say that any business with a high perceived value is blessed with the Midas touch, a touch that can ultimately catapult a brand into superior levels of success.
But while value is primarily tied to the service you offer, your perceived value is largely connected to your brand, its name, and your company’s identity.
And it only takes a tenth of a second for customers to assign a perceived value to your brand after engaging with your brand name.
So, if you want your brand to be successful in the market, then finding the perfect name is a great place to start.
What are the Benefits of Finding the Perfect Name?
Leading companies like Apple, Virgin, Rolex, and Ferrari never fail to use their influential brand names to build brands with immense perceived value in the minds of their customers.
So make sure you get a great name because it can help your business:
- Steadily attract new customers.
- Turn one-time customers into lifetime customers.
- Attract talented and devoted employees.
- Enter the market on a powerful note by creating buzz and excitement.
- Increase sales.
You May Read: How to Set Up a Successful Location Independent Business
What Makes a Brand’s Name Great
Entrepreneurs new to naming their business often wonder what qualities make a brand’s name perfect. Well, the answer is simple. The primary quality of a great brand name is that it C.A.R.E.s.
That means it’s:
- Contextual: The perfect names provide the best context for your entire brand. They stand at the core of your business, establishing and assisting other critical elements of your business.
- Appealing: Perfect names are short, unique, easy to say, appealing, and fascinating to customers. And that’s why customers find it easier to share it with their friends and family.
- Remarkable: Great names leave a mark in the minds of their target audience because they’re super memorable and resonate deeply with their target audience in a very special way.
- Emotionally Active: Great names positively trigger your customers’ emotions, transforming them from fringe customers to loyal followers of your brand.
Now that we’ve got that covered let’s delve into how you can find the perfect name for your business.
How to Go About Finding the Perfect Name for Your Business
As an entrepreneur, getting the perfect name may not be the biggest or scariest thing you’d have to do, but that doesn’t mean it isn’t critical.
Now, although it’s possible to stumble on a great name anywhere, it takes skill to craft a great brand name. So get ready as we explore how you can find the perfect name for your business.
1. Balance Your Passion with Knowledge
Every great entrepreneur has a solid motivation to see their startup become successful. Call it passion, call it a dream, or a desire to win; it’s what keeps them going in the hard times.
But don’t be that dreamer who always makes the wrong moves; balance your passion with the proper knowledge about your business; otherwise, your startup will die a natural death.
So begin by getting the proper knowledge about your business, industry, target audience, and competitors.
Learn the fundamental values of your business; focus on what works, what doesn’t, and what could work. This way, you can build a brand that knows exactly the right moves to make.
Put customer satisfaction at the heart of all your activities by always asking, “How can we do this better?”
2. Pick a Great Brand Tone
Sometimes, it isn’t what’s said that matters but how it’s said. And that’s why you need a tone that supports your company.
Finding the right tone will help you find a great name that aligns with your brand easily, but ignoring your tone will make your name lose potency and ultimately disconnect it from your target audience.
Your name’s tone should align with the needs and expectations of your customers. This would help you quickly decide if your name’s tone should be; fun like Google, classic like Citibank, playful like Skittles, casual like Chubbies, or friendly like PayPal.
3. Know Your Brand’s Element
After sorting out your brand’s tone, it’s time to find your brand’s elements because they form a critical part of your brand’s personality.
To find your brand’s elements, begin by knowing the big ideas powering your brand, then your brand’s story, the value it provides to customers, the benefits your customers would gain, and then your value proposition.
Make sure you understand your brand’s element because it’ll help your employees understand the vision of your business and their role in it.
4. Start Brainstorming
It’s time to let your imagination run wild and find words that meet your brand’s needs. Look through dictionaries and thesauruses and search for short, original, striking, and compelling words that are capable of representing your brand.
Now, although actively searching for a brand name can be challenging, it doesn’t have to be, especially when you rely on those things that strengthen your creativity.
If working with a team works for you, ensure you get the best people and discuss your idea, vision, and branding elements with them. Allow them to contribute freely and don’t restrain their creativity.
We understand that there’s hardly any time for brainstorming, and if you’re stuck at any phase of the naming process, don’t waste unnecessary time, use a powerful business name generator.
Watch Your Back
Re-evaluate your brand name to ensure it’s free of anything that would jeopardize all your efforts. Ensure you test your name with an audience to make sure they love it and triple-check with the USPTO to ensure that your name hasn’t been used by someone else.
This way, you can protect your startup from any legal battles that may arise from a copyright lawsuit.