People spend a lot of time on this stage in their business plan and rightly so, because your name will represent your company. Before deciding anything to do with the brand name, you need to figure out your brand strategy because this will help you understand your company’s audience, the desired reputation and all the details about your service/product. This can help you decide what is at least appropriate or inappropriate for your brand name. Then research into your competitors and consumers in order to properly understand your market and what kind of names already exist within it.
Once you have all the background knowledge on your market, target audience and competitors then you can begin brainstorming name ideas. During this process, there is no idea too crazy and you should keep the ideas flowing, even if one of them seems silly after writing it down because another idea may come from it. It's a creative process.
Here’s a few starting points for names:
- The founder's names
- What you do as a company e.g. design
- An experience or action
- Make up a random word
Google is a completely made up word, although it has gone on to be an official word in the dictionary due to its popularity, on the other hand companies such as John Lewis are named after their founder.
After brainstorming you should be left with a lot of name ideas and here you can put your favourite ones into a short list, perhaps start by choosing 20 and then cut it down to 10.
With this list of 10 you need to make sure they will be names relevant through all marketing updates. For example, if your name includes anything to do with smartphones it won’t stand the test of time because smartphones won’t be around forever. Technology is constantly updating so keep that in mind. Additionally, ensure the names left aren’t similar to another brands name e.g. is Blueberry really a good name if Blackberry already exists?
Then go through each name and check online if the domain still exists for your website, bonus if its not taken on any social media usernames!
Try creating your logos, ads, business cards etc. with each name that's leftover. Doing this will enable you to see which ones are more visually appealing. Seeing the name in your head is one thing but actually putting it into a design can be a very different thing.
By this point you may already have your winner but if not try testing out a couple names to your target audience and see which one they respond the most positively to.
Once you have committed to the name you can start distributing it out to the world. Get in contact with us for logos, leaflets and web design to help get your new name brand out there.
For information on how important logos are click here.