The choice of a company name is the starting point in brand building. It is the name that determines how consumers will relate to the company and the products it offers. Therefore, naming should be given special attention.
To come up with a name for a company, you will have to study the audience, look at competitors and take into account the legal intricacies.
A good name:
- reflects the essence of the company: its product or service;
- understandable to the audience;
- stands out among competitors;
- easy to write and read.
A firm with an original name is easier to find a suitable domain and register the trademark.
Why Does a Company Need a Name?
The company name is an important part of branding. A well-chosen name is easy to read, quick to remember, and most importantly, it forms the right associations with the brand for the audience. To establish the right image of the company in the minds of the audience, the brand name must be duplicated in different channels:
- on the website;
- in social networks;
- on advertising banners;
- in the name of the domain.
Choosing the name of the future company, check whether there are free domains with that name. If the name of the brand and the website address is the same, it is easier for customers to remember and find your company.
Ways to Come up With a Company Name
Coming up with a company name is not an easy task. It is in this situation, it is important to explore the main ways in which you can come up with a company name. This approach will greatly facilitate your life. So, what ways to come up with a company name exist?
Combine the Keywords that Describe Your Business and Create Neologisms
This is how the name Adidas came about. The founder of the brand, Adolf (just Adi to his friends) Dassler, assembled it from the first syllables of his first and last names: «Adi» + «Das».
Make up Puns
The name of the messenger WhatsApp is a synthesis of the colloquial greeting «What’s up» and the word «application».
The name of the streetwear brand «Youth» carries several meanings. Firstly, it is a pointer to the target audience – clothing for young people. Secondly, the word «youth» in the mind of a modern person is firmly associated with the culture of the past, and the brand is just reinterpreting the classic silhouettes of sportswear of the 80s in its collections.
For example, the name of the restaurant «Good Hands» alludes to the skill of the chefs and suggests that diners’ meals are in good hands. But don’t forget that sometimes phraseology can add undesirable meanings to a company name.
Create Original Words According to the Principle of Consonance
For example, use repetition, like the creators of the brand «LavkaLavka». Or rhyme short words, like in the name Tic-Tac.
Turn Your Name into a Brand
The name Rolls-Royce is made up of the last names of its two founders, Charles Rolls and Henry Royce.
Use Cultural References
The Starbucks coffee chain is named after one of the characters in the novel Moby Dick – Starbuck the Kirghiz, Captain Ahava’s assistant. The full name of the company was Starbuckyrgyz, but then it was shortened to Starbucks.
Use a Part of Speech That is Rarely Used for Names, but Conveys the Company’s Values Well
For example, the content marketing agency «Make it» or the event studio «By the way».
Tips for Choosing a Company Name
Once you’ve decided on the most appropriate way to come up with a company name, it’s important to familiarize yourself with the basic tips for choosing a name. Each tip is extremely useful and important to review. So, let’s take a look at the main ones.
Keep the Name Short and Succinct
Short, succinct names are better remembered than long ones, and it’s even easier to show them graphically. The name of 2-3 words may well reflect the essence of the brand, but designers will find it difficult to fit a long phrase in the design of the logo and packaging.
Sounds Good in Different Languages
If you’re planning to take your business internationally, check for unwanted associations with your name in the countries you’re targeting.
This happened, for example, with the French men’s grooming cosmetics brand Axe. Axe translates to «axe» in English. The suggestion to take care of your body with an axe would sound doubtful, so in English-speaking countries, Axe perfume is sold under the consonant name Lynx. Latin, it translates as «lynx».
Can be Patented
To form the right image around the brand and to protect your products from counterfeits, it is important to register the brand as a trademark. In doing so, it is important to choose a name that is unique in its class of goods and services. Names in different classes can overlap.
No Mixing with Competitors
Research your competitors and make sure the name you choose is not consonant with the names of other brands. This can hinder your positioning and image in the marketplace: potential customers will confuse you with your competitors. And if the names are very similar, there is a risk that the owner of the trademark with a similar name will sue.
A good name takes care of the customer – it is easy to read, pleasant to hear, and easy to pronounce. It evokes a pleasant association and does not mislead. And it carries information about the company – about products, services, or values.
The more original the name, the greater the chances that the name has not yet registered a trademark. This means that there is less chance of a lawsuit from the rights holder. You should not try too hard with humor. Such names are often confused. They will not bring new customers and will not convince them to buy your product or service.