After dedicating days or maybe even weeks to brainstorming and crossing off every name on your list that you can possibly think of, you have finally found the best brand name.
But is it really the perfect for your business? How can you be sure?
If your startup name cannot create enough buzz and successfully engage your target audience, all of the time and effort you dedicated to developing your business name was for nothing. Our comprehensive guide for coming up with a business name will help you get the most out of the time and effort that you dedicate to the naming process for your business.
1. Brainstorm some great names
Get creative. Write down every business name suggestion you can think of, even if you aren’t quite sure that it’s a perfect fit.
A succinct and efficient name is simple for your target demographic to pronounce, spell, and remember. You should also do a quick and easy search to make sure that there is an available URL so you don’t accidentally fall in love with a name that you won’t be able to use.
2. Create a shortlist of potential names
After you have gathered a wide variety of brand names, begin eliminating ones you don’t believe are a good fit for your business. Cut down your options so that you only have four or five potential names remaining.
You should think beyond what you as the entrepreneur feel is a good fit. Consider the audience that you are trying to attract. For example, if your target audience is Millennials, they may not take to a brand name that is traditional.
3. Get critical feedback from your target audience
Once you have compiled an excellent shortlist of potential brand names, bring in outside opinions.
You can create your target audience based on various demographics such as gender, age, hobbies, and location. Additionally, you will want to set the stage before asking your target audience questions about your name. Give people enough context on your unique business to make an educated decision. Don’t let them answer too quickly Slow your target audience down before they answer.
Here are a few examples of what your questions should look like:
- Which one of these dating apps would you recommend to a single friend?
- Which of these lifestyle brands are you most likely to follow on social media?
These questions are reliable because they make your target demographic slow down and think about your brand in a brand-specific context.
You can also try asking questions that are based around value or benefit propositions. Here are some examples:
- Which one of these names would be the best fit for a revolutionary payment process company focused on millennials, and quick and easy usage?
- Which of these restaurant names do you feel most embodies wealth and prestige?
4. Examine Your Results
Go through your results and decide which name will be the most effective and fruitful for your business.
You may be surprised by the results of your audience testing. We have seen in the thousands of name tests we have now performed with our clients that the name that our client simply loves actually performs horribly with their target audience. And this is the type of reality check that is extremely valuable to entrepreneurs and makes the testing process so worthwhile.
There isn’t one perfect testing method that will give you an exact and precise answer as to which brand name will help your business succeed in the long run. However, audience testing is a critical process that provides another level to your name validation process. It can help you choose a business name that isn’t cringe-worthy or awkward. With helpful audience feedback, you can select the name that performed best and put your mind at ease.