Today’s post is about how and why picking a new company name that fits is essential — some considerations to help you stand out in the marketplace — how to test new company name ideas before going live.
In today’s marketplace choosing a name for the business can be intimidating. But to get the new-found business off the ground, you must name the company. What you are going to call the company is the first step of the building brand process.
You want to think about the name you choose for the long term. So, find yourself a quiet place and begin brainstorming about the names you think that would best describe the company.
See if you can come up with three or four that you would feel comfortable using. The reason I suggested three or four is that someones you have settled on might not be available. And you would have to come up with another that you are happy with using.
Selecting the name you are calling the business is the beginning of the story. Here is the first opportunity to start showing people how and why the brand is different from all the competition.
Deciding on a company brand or product name think about what explains the product the best. Do you want a name that describes what the product or service does? This choice might be useful if you don’t want or have to continue the story.
But if you chose a name that you can continue the story and connect with other potential customers will work out better for the long term. Don’t you agree?
Which Name Works for Me?
Picking a name that is a good fit depends on where the product or brand falls.
The three most common are literal, metaphoric, and fanciful.
Names for the brand, product, and service will decide which category works best for you.
Literal Brand Name
A literal name is what it means. Example, of a literal title, would be Boston Donuts. Boston Donuts describes the business’s purpose. What the product is and the service the baker provides.
Metaphoric Brand Name
The metaphoric brand name is a name that lets people think beyond the literal meaning. It allows people to think about the brand or service but enables them to think outside the box when they think about the brand.
Fanciful Brand Names
Fanciful names are names that do not have anything to do with a brand, products. They are names that are made up, a name that you can build the identity story from scratch. Here you can let the creative juices flow when you finally decide on a name for the company.
Considering A Metaphoric or Fanciful Brand Name
Fanciful and metaphoric names work great for a new brand wanting to establish themselves in the marketplace. It does take patients to build and break into the market, also, by providing useful problem-solving content for the visitors.
Literal brand names are names already established with consumers. They’ve exposed themselves to the brand, products or services and are quite familiar.
Are you still having trouble coming up with a brand name? Consider hiring a branding agency. A branding agency can help you when all the names you have thought about using aren’t working out.
The agency will take all the elements of competing businesses in the field. And offer you several options to choose a business name. Here is where you and the team can decide on the brand name that best fits the idea of the business.
Get Your Name
I’m confident that you have thought of a couple of names you’d like to try. Also, they probably sound great! There are a few things you still need to do to define the name focus.
Take the name you decided on and start doing the research. Go to the internet and start plugging in the name(s) you are considering. Learn from the internet how the name compares to the competitors. Is it too similar to other brands or does it help you stand out from the crowds?
You are discovering good and bad similarities between the name and competitors names. Are the similarities going to help you separate yourself from them? Will a literal title work better or will a metaphoric or fanciful name describe the business better.
Choosing the perfect name for the business is going to take some work on the part. You must get to know the market. How will people find the company online? How do they search for the answers to their problems? Do they type into the browser a question? Body shops near me? Or do they type, for instance, light bulbs?
You don’t want to limit yourself or the business in the marketplace they’re involved. Keep an open mind for any options that a visitor might trigger a visit from a person. Place yourself in the consumer’s shoes on how you might go about finding the answers you look for online — and applying those same queries to the business.
Practical Brand Name Selection
The exciting part about selecting a name for the business is that there isn’t a right or a wrong way. There are a few practical ways you can begin to find out what names might work.
Talk to friends and co-workers to help you come up with a name that works. Choose these people carefully, by asking some who are familiar with the product or service and others that haven’t an idea of the company.
Recording the feedback from both, how the product is received, is the product living up to the story you are telling, and what emotional feelings they are giving back about the product.
With the information, you gathered, create a spreadsheet, give them a specified time 15-20 minutes to come up with names related to the conversations you had with them. Don’t concern yourself or them with quality but quantity.
After you have enough names, you can start to narrow down the best names. Asking the same people you brainstormed with to give you the ones they liked the best and eliminating the other ones, leaving you with the best titles for the business.
Start to Disqualify Potential Names
By getting feedback from the market target audience will enlighten you for which name to choose. Find out how they feel about the name or names you’ve narrowed down.
Take those names that aren’t eliminated and begin searching on Google. The search should be about name trademark, to see if it is already registered.
Or if the name you chose has different meanings or connotations that might have negative implications for the brand or product. This sensitivity could result from another language or culture.
As I mentioned before, there isn’t a perfect way to deciding on the company’s name. By doing the preliminary research before choosing the title is going to help eliminate problems. The real test is going to be the test of time, watching and observing how the visitors react and how you respond to them.
By going through the process of gathering the research, getting target audience feedback will give you the best opportunity for choosing a brand or product name that works.
You are on the way to choosing a brand name for the business. Remember a name represents what you are offering, and should stimulate emotions from the audience.
You have three choices when choosing a name: literal, metaphoric, and fanciful. Depending on the type of product or service you are offering will determine which type to use.
To get the best results for choosing a name, you have to do extensive research by the process of elimination to determine which is right for the business.
By thinking of Literal brand names will help you get a competitive edge over comparable products. The literal title communicates the brand or product to the consumer immediately.
And in most cases, the target audience is familiar with the product or service, which will save you time on marketing because the audience already understands the features and benefits.
Deciding to start a new business without any help can be a daunting task. And if you still have questions and are wondering how to start and run a profitable online business. Please don’t hesitate to ask or go to my review post for more information.
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