Naming your business can be a daunting task, after all a name should last forever, right? So it is one of the biggest decisions you’ll have to make as a business owner. No pressure. Luckily, you have us here to provide a few pointers along the way.
But, before diving in, we want to clarify that two assumptions will be made on our end:
You’ve done your homework on your competitors
You know your target market.
You see, before thinking of your own business name, you need a clear vision of the current landscape (what are the names and positionings of your competitors) and you need to be crystal clear about who you’re trying to connect with. What are their likes/dislikes etc. If you have not completed steps 1 and 2, please take this moment to do so. Don’t worry. We’ll wait.
Once you’ve crossed those T’s and dotted those I’s, here are five points to help you get started on crafting the perfect name for your business:
What’s your unique positioning in the marketplace? Carve out a niche market and build that into your brand name.
Your Customer Profile
Remember how we emphasized knowing your target market? Ah-ha! There’s a method to our madness. Your name needs to resonate with that target market and translate to them. Basically, you need to speak their language.
Connection to your Brand Identity
Think about what you want your brand to represent. Is your brand Athletic? Humorous? Strong? Cozy? Feminine? Craft a list of brand attributes (adjectives) that describe your brand and start thinking about all the different associations you can make with those attributes. For example, if your brand is giving off an athletic vibe, what are some non-obvious synonymous you could use to create a distinctive name? Maybe get even more specific: Cozy & Athletic. This will help you think outside of the box and come up with something unique that is connected to your brand.
Will your brand stand the test of time? For long term success, avoid very trendy names that play on words or utilize current slang. Inevitably “turn up” and “sliding into the DMs” will be outdated, and by association so will your brand. If you feel “turn up” is closely associated with your brand attributes, then think of different ways to express that quality that are more long-term.
Keep It Simple
Your name is not the time to employ too much creativity. Rule of thumb is simplicity wins. There is nothing worse than realizing you have the perfect name, but it does not communicate. Truth is, you can have the most clever name in the world, but if your customers can’t easily spell it or repeatedly misspell your domain name, then we’re sorry to be the bearers of bad news, but your name isn’t working. Are you thinking of going international? Is your name easily recognizable in other languages? Or perhaps even offensive in a foreign language? These are all aspects to consider.
Well, there you have it. A few easy steps to (hopefully) get those creative juices kicking inside your brain so you can come up with the perfect name for your brand. But, if you need a little extra help, you know the FIG team is here to assist! Let us know, we’re only a phone call away.