How to choose the name of your company?

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choose the name of your company

Investing in finding a brand name for your business is very important in the future success of your project. Indeed it is an essential element and unable to separate from your success and this for several reasons;

The brand name is the first thing that will be presented to your prospects and collaborators. It is a reflection of your relevance and your credibility.

It allows you to distinguish yourself from your competitors and thereby defines your authenticity.

It is a criterion that defines your position on the market and presents the concept of quality/price ratio.

It is a name that will be worn for years to come. So a good choice will prevent you from changing your name and POS later.

Obviously, it is useless to remember that a good brand must be easily pronounced and remembered. It must make an impression while being understandable by as many people as possible in the target audience.

Finding the name of your company is based on 6 essential steps;

1- Define the universe of your brand and the associated ideas

Before starting to develop the name of your company, first think about defining your brand universe. (Proposed offers, characteristics of the service / product, general references of the sector of activity.). This step is the most important as it will be your source of inspiration to find the most suitable brand name.

By defining an extended search field, you put the odds on your side in choosing an original name.

Everything must be transcribed in order to be able to synthesize all the research elements found (sounds, word games, strong images, ideas, messages to be transmitted, etc.). 

Furthermore, in order to be profitable, it is advisable to carry out this stage in a fun and serious atmosphere at the same time. In addition, this creative process should not be restricted. That is, all ideas are good to take and no value judgment should be made at this stage.

In order to broaden your basis for reflection, do not hesitate to ask your loved ones for help. It is even possible to consult dictionaries of synonyms or etymologies.

2- Focus the investigations around a single selling proposition (Unique Selling Proposition)

After a large and in-depth study, it becomes necessary to reframe the search for the name of your brand territory. At this stage, it is necessary to classify according to their priority all the characteristics of the inventory (function, quality.) while thinking about the idea that you wish to communicate with your customers. 

With this in mind, you must start by defining your target audience (young people, seniors, etc.) and your position in the market (high-end, start-of-the-range, etc.).

Then you have to narrow your searches, even more, to reduce them to a single name that can carry your Unique Selling Proposition. Note that you are not forced to offer the best service on the market at the cheapest price. It would be wiser to come up with a good strategy that highlights the commercial advantage that sets you apart from all your competitors.

Do not forget that you will have to write your “pitch”. The “pitch” is a commercial phrase intended to describe in 30 seconds your company, what it does and what sets it apart from the rest.

3- find names through name design techniques

There are several methods of creating names that can be used. According to these techniques, the names created most often refer to your product or service. You should know that for names that do not suggest the activity you carry out, you will have to do a drastic job of advertising in order to publicize your brand and your products. 

On the other hand, a “generic” name may well reflect your activity and offers quick and simple identification but does not allow memorization or the obtaining of cumulative sympathy from the customer.

Here are some name creation techniques you can opt for:

Use words that define your concept; using the words of the concept, puns …

Opt for a neologism created from one or more keywords. It is possible to do phonetics, to associate terms. Several combinations are possible; Navigator, Activist, Intellect …

Use acronyms (MMA for example).

Use historical, cultural or local references. The choice is vast in this category. There are a lot of variations (name of a famous man, name of an artist, name of a local place…).

Resume foreign words.

It is obviously possible to mix these techniques for maximum originality.

4- Make sure that the name matches the initial concept. 

Make sure that the name chosen responses the following questions: “Will the customer understand what I am trying to communicate?” Is it clear that my offer stands out from my competitors? »Don’t forget to test this name with your prospects and even with third parties (friends, family).

In this context, some tips and advice can be of great help to you:

Remember to give yourself one to two days of reflection before definitively validating the name of your company.

It is advisable to create a short name that is easy to remember.

It must be without any ambiguity, that is to say, that there must be no hesitation on the spelling.

Be careful with homonyms (google and gogole for example).

It should also be noted that a “generic” term cannot be registered or protected. So any competitor is able to take it back. You have to think carefully before choosing a name of this nature.you can also use a name generator like dragonborn name generator which can generate dragon names and there is also a company name generator, which can generate company names which can solve your problem.

5- Check the existence of the name and register the trademark

As soon as you have found 2 or 3 interesting brand names, you will have to make sure that they are not already registered. This step is of utmost importance. Neglected, you may find yourself forced to buy a brand name at an astronomical price, so pay close attention to this detail. 

To remove the mark, just go on google. Fill out the online form, print it and send it by registered mail to the property, attached to the regulations. The procedure is quick and after 2 to 3 weeks you will receive your acceptance of the mark together with the acknowledgement of receipt.

6- Decline your brand

As soon as you have chosen the name that suits your project, you can make all the possible variations on your communication media.