So you’ve started a business, and sure enough, it didn’t take you long to realize that just like how people can be competitive, businesses too are very competitive.

And in this competition of businesses, in this struggle for clients and market share, branding is the name of the game.

Think of it as a chain reaction. For your business to outperform its competition and take the crown in its industry, it needs to win the attention of your target audience with an appealing brand image.

And trust us, an appealing brand image attracts tons of paying customers and leads to the overall growth of your business.

But the only way your company’s brand can trigger this reaction is if it has a solid name. Why? Because words—and names in particular—are very powerful.

Your company’s name captures the soul of your business; it’s a great magnet for attracting customers. But that’s not all, a solid name also:

• Connect your clients to your brand.
• Boost sales and investment.
• And also support marketing and advertising.

With that said, let’s look at how you can create a solid company name.

Know Your Company’s Root

In just the same way a tree’s root plays a major role in determining how tall it grows, your company’s root—its mission, vision, and goals—is responsible for how successful your business becomes.

So, before generating a name, make sure it’s rooted in a deep understanding of your company’s principles. This way you can craft a name that embodies the success you want your company to achieve.

It’s All About Your Customers

By now you should know that your company exists for one purpose only, and that’s providing value to your customers.

But it doesn’t end there because if you intend to make the most impact on your customers, you’d need to understand them. You need to know their physical and psychological needs, and one way you can do that is by collecting direct feedback from them through surveys and interviews.

By understanding your customers, you’d know if your product is perfect for Gen Z, Millennials, boomers, startups, large companies, or even for young singles or married couples.

Brainstorm

Now that you understand your customers, their preferences, what they love, what they want, and how they think, it’s time to flex your creative muscles and write as many names that align with your customer and the company principles.

To speed up the process, while brainstorming, use a dictionary or a thesaurus to search for words that align with the value you want your brand to communicate.

As you brainstorm, look out for:

• Single words like Zappos and Zoom.
• Compound words like Facebook and WordPress.
• Acronyms like IKEA and DHL.
• Misspelled words like Xerox, Flickr, and Lyft.
• And also words that reflect your values like Tinder and Impact.

And while you’re at it, don’t get carried away, keep an eye on:

• Your immediate environment and who your customers are.
• The emotion(s) you want to stir in your customers.
• The names of your competitors.

Your company name doesn’t just provide the best avenue for your business to stand out from the millions of registered businesses out there; it can also save your company from plunging into oblivion with the 21.5% of businesses that fail in their first year.

Get Professional Help

Good things take time, so don’t get discouraged if you spend weeks, maybe even months, brainstorming a great brand name for your company because you can get professional help from a great brand naming agency.

Naming professionals would easily generate a name that’s the right fit for your industry while you focus your attention on providing services that’ll make your customers happy.

Test Your Name

The journey doesn’t end with finding a great name. In fact, this is one of the most crucial points of the naming process.

Audience testing is the path to take if you want to craft a name that customers would love and understand, and you can do that by performing a crowded bar test. This way you can create names that sound great and are also easy to understand.

Secure Your Company Name

There are a lot of red zones you have to look out for when creating your company’s name, one of them being trademark lawsuits. So, after testing the name, make sure you get it trademarked.

The last thing you want is to put your company through legal battles that could’ve been easily avoided if you’d trademarked your name with the USPTO.

Take A Step

Your business has enough potential to be the next Tesla, Zoom, or even Amazon, so ensure that you set your company up with a powerful name that strikes a chord in the minds of your customers.