As we prepare to get back to something like normalcy, it’s a great time for new businesses to hit the ground running. Even though this year comes with its own share of challenges, there are advantages to having an entrepreneurial spirit in 2021. Consumers are more accessible to brands than ever before due to the time they spend online, there’s less competition than there was pre-pandemic, and many talented people are hunting for jobs.
The conditions may be ripe for success, but it’s just as important as ever to choose a company name that establishes your brand and sets you apart from the pack. Here are our tips for coming up with a business name:
Think about the Problems Your Company Exists to Solve
Consumers have had a whole year to contemplate what matters to them: their values, their beliefs, the things they can’t live without, and the products and services that are worth spending hard-earned money on. A company starting out in this environment needs to make it clear that they offer something of value to their customers, solutions that make life easier or bring people together.
There’s still so much that we have to learn about consumer behavior in this time of fluctuation and unpredictability, but choosing a name that sends a clear message about who you are helps cut down on the uncertainty for both you and the prospective customer.
Look at Social Media, Website and Trademark Availability
There’s nothing more disappointing for a new company than coming up with the perfect business name and getting attached to it . . . only to find out it’s taken. Even if the name isn’t officially trademarked, you might still be deprived of your first-choice social media handles or website address. No one wants to have to add underscores or extra letters—that makes it harder for customers to find you. The only way to avoid this is to make sure you search on every relevant platform before getting your heart set on a name. Availability is certainly not the only criteria, but it is crucial to success.
Steer Clear of Online Name Generators
As more and more business names get snatched up and trademarked, it takes an increasing amount of human creativity to produce unique names that resonate with their target audience. While there may be a few decent options buried in a pile of uninspiring ones, it can be hard to recognize them amid the mishmash of intentionally misspelled keywords and industry jargon.
Don’t Forget about Naming Architecture
Your company name should be strong enough to stand on its own, but at the same time, it doesn’t exist in a vacuum. It has to have a relationship with your brand as well as every one of your products and services, which also need to have relationships with one another. It’s important to make sure your business name has a theme, even a subtle one, that you can expand on and play with as you build your company and increase your offerings.
Don’t Be Afraid to Come up with Bad Ideas First
One of the road bumps for companies that try to come up with their own names is that they expect brilliance to suddenly jump off a blank page. If only it were that easy! You have to set aside your ego and the fear of embarrassment and just throw out ideas without knowing if they’re good or bad. We’ve done enough brainstorming to know that sometimes you have to get the bad and mediocre ideas out before you can come up with a good one!
Coming up with a Business Name: How NameStormers Can Help
Coming up with a business name that is both unique and catchy is no easy feat. Luckily, you don’t have to do it alone. Our seven-step process goes so far beyond jotting down keywords on a whiteboard. We learn what we need to know about your company and what sets you apart. After our naming experts come up with a solid list of names, we conduct preliminary trademark screenings and scope out online availability. We circle back to discuss the names that have made it through the screening, and then we fine tune based on client feedback. From there we test the remaining names with the target audience and give our clients actionable data that will help with the launch of their new business or product.
To sum it all up, at NameStormers, we put our creativity at work for you! If you’re looking to come up with a name for your new business, get in touch with us today.