How to choose the best company name for your business
Choosing the unique company name for your business is very important since this is the key element from which all your corporate image strategy starts. That is why it is essential that your business name transmits a concept that impacts. In this post, I will share with you the best tips to choose the best company name for your business.
Every entrepreneur arrives sooner or later to the crucial point in which he has to baptize his business, to give him an identity.
Not easy at all, because choosing a good name is of vital importance especially because that name will be a long-term choice and is very much a marketing element that can make the difference between many or few clients.
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In addition, your business is your most precious treasure where you have invested all your savings and surely all your dreams and therefore must be called in an incredible way, do not you think?
Indeed, choosing the unique company name that transmits everything you want is a process that can take many hours and hundreds of sheets of paper before finding it.
But taking the time to brainstorm and analyze them is something that is definitely worth it.
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Reasons to carefully choose the best company name
Below are the best tips to choose the unique company name that makes you feel comfortable with it and some practical ways to find it:
1. Decide What Type of Name You Want
One of the first things is to define if we want the name to be totally descriptive. That transmits the essence of the business role of the company or if we want to go to the creative side and create a name for the very novel business and abstract.
In some cases, it is even a good idea to conduct an investigation in Google to inquire about the existence of that name or its variants even in other countries in order to find the best company name matches for it.
Examples of descriptive names:
- The toy house
- Latin American Importer of Spare Parts
Examples of abstract names:
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For a corporate name to be successful whether for a company or for a leading product there are some great value features can be applied. First, that name should be easy to remember and easy to write.
This is fundamental especially in the information age because you will have to accompany your strategy with a website, a domain on the web and your social networks.
Making your unique company name simple and easy to remember will allow a better positioning both on the Internet and in the mind of the consumer. If possible, try a short name that does not lend itself to confusion.
Oh, it’s also important that it’s easy to write!
Do not make things complicated with weird names, gimmicky letters or confusing terms. Follow the example of: Pepsi, Toyota, LG or Disneyland.
3. Choose a name for your business that has your last name
Another usual and powerful way that many companies have adopted when choosing the name for their business is to use their personal names or surnames or use combinations that include them.
- Brother Copher
- Mc Donalds
- Mercedes Benz
- Ferrari, etc.
This can give you a lot of prestige especially if your last name already has a recognition probably derived from the achievements of famous or prominent relatives.
4. Choose the best company name that refers directly to your product
If your specialty is a product and you want everyone to know it at first sight, this is a great strategy that works and also positions you as a leader in your industry and an expert in your business segment.
- BurgerKing (hamburgers),
- PizzaHut (Pizza)
- Plastic World
- The House of the Candles, etc.
5. Consider a concept as a business name
When we talk about a concept, we talk about considering a name that means much more than a product, something that can refer to quality, price or benefits.
- Shousource (economic shoes)
- Maxibodegas (of all)
- I prefer (convenience)
- Lee Shoes (shoes)
- Yellow pages (directory)
This allows us to convey to the client an even broader idea of what your company can offer them.
6. Choose a new and very creative company name
This is probably the least simple suggestion. In this case, you can choose a creative company name for your business with a word or term without a special meaning or an illogical word to which you will give the concept with the passage of time and the confirmation of your own brand.
It takes a lot of creativity and ingenuity to find it and especially some intuition because you will not know if it will be something that really sticks until time passes.
7. Include your region in the name
This strategy will allow you to focus on a special business sector or region for your business or to make your business more global.
- American Airlines
- Europa Motors
- Central de RepuestosMexicanos
- Telmex, etc.
Start with a rain of ideas
Finally, the best tactic for finding the best company name is to brainstorm among your collaborators, friends, family and even (and very important) some potential clients.
From this brainstorming, we should extract a list of at least 10 more attractive names for the business that are candidates to baptize our company.
Having that list of 10 names in hand, the next step would be to conduct a survey so that some people can tell us which are the 3 that they like the best and get the 3 best proposals.
Finally, you must choose among them the one inspires you the most and give confidence and makes you feel more comfortable and secure. Because, in the end, it will be the name that will accompany your company for many years.
Actually, there are several ways to find that unique company name. However, remember that the most important thing is that the name is built over the years and becomes a powerful brand.
And of course remember the great principle in business: follow what your intuition says.
“It is not the name that makes your company but your company that gives prestige to its name.”