It is possible that the term Branding sounds more familiar to all of us, since this name is attributed to the process in which a company’s brand is built. In other words, the corporate identity is developed to “launch” our company to the market and ensure that it positions itself in it, becoming a benchmark for all target audiences. For this, it is essential to have a good marketing and communication plan. Preferably, a catchy business name will accompany you throughout its useful life, making naming a crucial and highly important process.
The name you choose for your brand or product must be unique, convey its values, express its personality and, in turn, succeed in standing out in a competitive and dynamic market.
Right Process of Choosing a Business Name
If you are thinking of carrying out this laborious process yourself, these are the main steps that you should follow at our discretion.
- Arm yourself with patience, as this task will take a long time. It is not simple or fast.
- Take paper and pen and spend the time you need to perfectly describe your business. You should know what you do and who your competition is, mainly. To complete this part, why not use the well-known 5W rule? How?, When?, Who?, Where?, Why or what for? Always directing these questions to the two main pillars, your business, and your competition.
- As we said at the beginning, our brand name must convey all the values that we have thought at first. Well, now is the time to decide what we want our name to say about us.
- A little brainstorming can be the key to success. Based on all the information you have collected so far, spend another important part of time writing down all the names you can think of.
- To make this part of the process more complete, it would be interesting for you to contrast your results with other people on the team and for them to contribute ideas to the future name of your brand.
- No one is better than you will know the meaning of your business. That is why all ideas and suggestions must be well received. At this time, the more ideas you have the better because then we must select the ones that you have not liked the most.
- Once we have a small selection, we will check that the chosen names are not registered.
- In addition, we are not only interested in knowing if the possible names are registered or not. It is very important to find out if the domains for the selected name are available.
Characteristics of a good business name
As a marketing agency with some experience in Branding, we have put together this shortlist with some tips that may be very useful when choosing your brand name. Your name should fulfill some of these aspects, if not all:
- It must be a new name, unique and different from everything that exists. The fight for differentiation must start from the first moment. Your name must evoke differentiation and novelty.
- The name should be suggestive. With it, anyone who hears it should think about what we want our name to suggest.
- It would be interesting if it had flexibility. In other words, it can be extended to other sectors or categories, because although we start our business focused on one sector, we will never know what the future holds for us. If our name is too explicit and inflexible we will not be able to take advantage of it for other categories.
- Easy to pronounce, read, and write. Regardless of the country in which we are going to operate, our name should be easy to pronounce and write. If not, we will make it difficult for people who hear it to retain it and relate it to our activity.
- As we have already mentioned, we will have to ensure that both your registration and possible domains are available to us. If we choose a name that we will not be able to use in our domain, the positioning tasks will be negatively affected.
- In relation to the previous point, continuing in the line of positioning, it is advisable that the name is short. In this way, people will remember it more easily and, in addition, the domain will also be brief. This favors positioning, especially on social networks like Twitter where the characters available to write are limited.
- We will also have to avoid negative connotations and/or associations. The name should not suggest anything negative.
- Many companies have certain baggage with profitable stories for the creation of the name. If yours is one of them, do not hesitate and take advantage of that opportunity. You will not find anything more suitable for your business than the history of it.