How To Pick The Perfect Name For Your Business
So you’ve come up with a brand new business idea and model and are ready to get the ball rolling.
A target market has been established and a business plan drawn up, so there’s only one thing left to do.
Choose a name.
The name of your business is important because, often, it is the first thing that your customer will know about you.
Because of this, you need to pick something that encapsulates your brand well while also giving people an idea about what it is that you do.
Read on for our advice about how to pick the perfect name for your business.
Be aware of the different types of names that you can choose
When it comes to picking a business name, there are different types that you can go for and it’s important to consider which one is going to work best for you.
Functional and descriptive
These types of names are good when they direct the consumer to your brand, for example a name like Hugo Boss.
They work less well when all they do is explain what the business does.
Consider how boring a company name like Photo Printing is.
All that does is explain, in pretty basic terms, what the company does.
Avoid these types of names as they’re not likely to evoke much excitement.
Examples of these are Oreo and Haribo, which work well because they can be catchy and memorable.
These type of names play off the experience of using a product or service and make sense to a consumer that will be using it.
An example is Browser and Safari, which are both names for internet browsers.
Brainstorm a list of names
Once you’ve decided on the type of name that you are going to choose it’s a good idea to make a list of the names that you like so you can see how they look in writing.
If you’re still struggling to find inspiration, check out new startups that have been successful and consider what it is about their name that is catchy.
Test the name with focus groups
If you’re struggling to decide on a name, consider relying on the input of other people to make a final decision.
A focus group is a good idea because it draws on diverse viewpoints, meaning that you’ll be able to see how different demographics respond to your businesses’ name.