Although it’s a year late, the Olympics is here again. And even though it’s amazing watching athletes compete and push the bounds of what’s considered possible, one thing we can’t help but notice is the major companies sponsoring the global event.
Brands like Coca-Cola, Samsung, Nike, Toyota, Airbnb, BurgerKing, and many other brands have invested a whopping $3 billion in sponsorships simply to catch the attention of millions of viewers worldwide.
And if you’re wondering why these brands had to go to such lengths, then know that they’re craving customer’s attention because it takes about 5 to 7 impressions for an audience to remember a brand.
But if you’re new into the business world, you may not have the cash to splash on an Olympic sponsorship, but there’s something you can do to keep your business fresh in the minds of your customers, and that’s getting the perfect brand name.
And if you want to discover the four quick steps to a great name, then stick with us, but first, let’s find out…
Also read: How to Make a Effective Landing Page
Why Businesses Are Choosing Great Names
Finding the perfect brand name is the easiest path to establishing a memorable brand. Most companies like Kleenex, Taser, Dumpster, Thermos, and Popsicles that grew into becoming household names did that on the strength of their brand names.
And that’s why major companies like Amazon changed their name from Cadabra, Instagram from Burbn, Nike from Blue Ribbon Sports, and Google from BackRub.
These companies wouldn’t have achieved the kind of success they have today if they had continued with their former names.
So, don’t be that entrepreneur who neglects to find the perfect brand name because a great name can help you:
- Regularly attract loyal customers
- Attract talented and hardworking employees
- Create the necessary hype that will make your products successful
- Help develop a unique and compelling company culture
- Reduce the cost of marketing
Quick Steps to Getting the Perfect Name for Your Company
1. Understand Your Company
Some of the most successful entrepreneurs today made it their goal to be the very best in their industry, and one way they achieved that goal was by getting an in-depth knowledge of everything concerning their company.
So, if you want to push your business into greatness, you need a thorough understanding of your target audience, your business, its competitors, and the market. By understanding everything about your business, you’d be able to interpret situations better and make the right decisions for your brand.
Remember that it’s much easier to create a powerful brand name and vision from a deep knowledge of your brand than a weaker one. Solid ideas birth great names, and shallow ones only birth inefficient and confusing names.
2. Figure out Your Brand’s Elements
But don’t just gather this knowledge; make sure you use them to craft a strong brand image and personality for your company because a perfect brand name is only a tool, and only your knowledge of its application can bring the best out of it. And that’s exactly why you need to find your brand’s elements.
Your brand’s elements are the soul of your business, and it contains your:
- Brand’s big ideas
- Vision, mission, and goals
- Brand story,
- Company culture
- Value proposition.
Your branding elements provide more detailed information on your brand’s personality and make finding the best name for your company easier.
3. Identify the Best Tone for Your Brand Name
Now that you know your brand’s elements, it’s time to use that information to find the best tone for your brand. The tone of your brand’s name plays a key role in the success of your business because it’s a link that sets up your brand’s personality and connects your company directly to its target audience.
You must find the best tone for your brand because whenever a great brand name fails to connect with its audience, it’s often because the right tone wasn’t in place.
And when it comes to finding the best tone, you can choose a:
- Positive and Inspiring tone like Nike
- Minimalist and Stylish tones like Apple and Tesla
- Comical tone Old Spice
- Strong and Aggressive tone like Harley Davidson
- Highly Emotional tone like Always
- Elegant tone like Tiffany
4. Get Creative: Brainstorm
Getting your brand name is really where you truly start creating a future brand identity for your business. And to set your business up for success, you’d need to brainstorm and creatively dig up names that align with your brand’s elements, its tone, and your target audience.
While brainstorming, don’t forget to look through dictionaries and thesauruses and generate a list of words that meets your naming criteria and captures the very essence of your company.
Now, one way to amplify your chances of finding a great name is to engage people willing to help. They could be your family, friends, colleagues, and even employees.
Bring them up to speed with your business, your brand’s elements, tone, and target audience. Get them to come up with unique and appealing names that reflect your brand’s position.
Remember that while working with a team, the key to success is maintaining an atmosphere of open communication and creativity.
Brainstorming is a very demanding process, so don’t be afraid to repeat the process until you find some names that match your company. But just in case you’re on a tight deadline, then use powerful branding tools like business name generators to find a list of names that align with your brand.
Test and Secure your Brand Name
To select the perfect name for your brand, test every name on your list with an audience—preferably people of the same demographic as your target audience. After testing your list with them, choose the name they love most, and then double-check it with the USPTO to ensure it’s still available for trademark.