Three Steps to Creating the Perfect Business Name

What’s in a name, right? As long as your business delivers top-quality products and services, there shouldn’t be a difference between Company A or Company B. While that might be true, the reality is that consumer culture perceives it a bit differently. In fact, studies show that 77% of consumers make a purchasing decision based on brand name alone. To that end, the moniker that you decide to give your business should be a top priority, as it could directly influence your bottom line.

Yet, when faced with a blank canvas, how can you start brainstorming the perfect name? The answer lies in strategically directing your focus to bring out the elements of your company that you want to highlight. With a little know-how, coming up with the perfect word or words isn’t quite as difficult as it sounds. Let’s take a look at three tips to help you get started today.

1. Make sure it’s original.

There’s nothing more disheartening than coming up with the perfect business name only to find that it’s already taken. To this end, your first step should be to run a quick online check of any potential name on your list. These are usually location-specific. For instance, if you’re in the Ontario region, you can learn more here about how to search your designated name online to ensure against replicates.

Taking this step is important because a business name isn’t just something you slap on a sign and hang outside of your brick-and-mortar location. Rather, it’s going to be associated with you across social media, on your website URL and on any branding materials you distribute. As such, you want to make sure it’s unique so your message doesn’t get muddled or worse, mixed in with a competitor’s.

To get started, explore keywords associated with your industry and create a free-thought brainstorming map that branches off from each word. For inspiration, you can use online keyword tools or you can even consult books, newspapers and magazines to spark an original idea.

2. Keep it future-proof.

Every era has a list of terms and slang terms that define it. From “groovy” to “selfie” you can immediately tell how old some words are. As such, those terms are dated and are the opposite of words that are evergreen, or future-proof.

When deciding on a name for your business, make sure it’s one that will stand the test of time. Are you leaning toward words that have only been in our common vernacular for the past five years or so, like “squad goals”? If so, consider how that will affect your brand five or 10 years down the road and if it will leave you scrambling to appeal to a new generation of consumers.

To get out of this realm, think less literally about what your company does and instead consider its values, ethics and long-term goals. For example, you may sell high-heeled shoes now, but pigeonholing your company by naming it “Glorious Stilettos For Women” means you’ll be hard-pressed to move outside of that niche if you want to expand in the future. Rather, consider what you want to convey with your brand and the emotional appeal you want to create. That means a better alternative might be “Confident Woman” or a name along those lines.

How would you describe your company to others? Start there and also consider what you want to accomplish with your brand. This reflection can often help you come up with business names that are eternal and forward-facing rather than ones that isolate your company and connect it forever to a specific timeframe.

3. Make sure it’s user-friendly.

Thanks to digital technology, more people are shopping online via their smart devices than ever before. As such, your business name has to be easily searchable, or you could miss out on a valuable opportunity to catch their eye. A recent survey revealed that 85% of people use the Internet to perform research before deciding to buy from a local business, so make sure they’re finding your company as quickly as possible.

As part of your overall Search Engine Optimization (SEO) strategy, your business name should be easy to spell, easy to speak, and easy to remember. If someone can’t find you online or mistypes your name, he or she could be led elsewhere. So, limit your business name to one with only one or two syllables, keep it short and sweet, and perform plenty of testing to make sure it’s as user-friendly as possible. Does it look good in a logo design? How does it look in an email signature? These are the types of considerations that can make or break your ability to retain your target audience, and they cannot be skimmed over.

When deciding on a business name, keep in mind that at the end of the day, it should reflect the core values and mission of your company. While these tips can help you start off on the right foot, they’re ultimately stepping stones toward coming up with a label that’s as unique and creative as you. So start brainstorming, researching, and testing. The right words are closer than you think.