How to build powerful business names
True is there isn’t any formula to come up with a top-notch name, but a strategy is somehow required.
Start by analysing the types of names used by companies under the same category. Then look at the names used by companies from related ones. If you own a restaurant, for example, do look at businesses selling food, beverages or ready-meals.
Done with the analysis? Discard the types of business names you know you WON´T use and start creating!
Popular brand names types are:
- Descriptive – the name is based on a literal description
- Compound names – the name emerges from the union of two existing concepts
- Abstract – made-up names
- Evocative – the name is inspired by a well-known concept (related or not related to the business)
Having the predefined filters in mind, write down anything that comes to your mind. Absolutely anything.
Once finished, mix and match! Combine the words, find out synonyms, derived words and collocations. Create until that nonsense list starts taking shape.
From the remaining list, pick up those that are more memorable and best fit with your value proposition. Do check whether they have been used previously or not and if the derived domains are free of use too. You will probably end up reducing that list you had by an 80%.
Evaluate the remaining names based on their suitability to the market and put the best-rated ones in context. Observing how the name sounds in real-world situations, will help you make the final decision.
The 80/20 rule
As you can see, the process of naming a brand is not a purely creative process. It is actually an analytical process with a 20% creative component.
The weight the analytical part has may be surprising, but the business name should be representative enough. Consumers should be able to identify who you are and what you do only by reading the brand name.
Short, unique, relatable, readable, easy to pronounce, visually appealing… we are sure you have read these guidelines before.
They have been established as norms during the last decade, but they are not.
Namings should be memorable, and if that implies creating long or unreadable names, then do it. As it is said… rules are made to be broken.