Is there a science to creating a great business name? Wordlab’s Business Name Generator randomly combines words into more than seven million possible outcomes, but then you may end up with a business called Frizzle or Green Meatspace Works. I suppose PigHappy could be ideal depending on your business model, but considering that a business name should usually describe what you actually do, the name generator probably isn’t your best approach.
There are methods to creating a great business name. A certain amount of creativity is also needed to arrive at something truly memorable. It’s good to sit down and capture every idea, because you never know what you may be able to build from or what will inspire you. You can look through books and go online for ideas. But keep in mind your brand and the person that is buying your product or service. What type of image do you want to project? Are you trying to convey trust, adventure, comfort, experience, convenience or other qualities? What will resonate most with your customers? Keeping that in mind, here are some good guidelines to follow when creating a name that will stick. While you’re name likely won’t reflect all of these criteria, I find these are useful to stay true to brand.
1) It’s easy to remember, easy to spell and easy to pronounce. Crate & Barrel and Target are much more memorable and easier to spell on a Google search than Ligne Roset Boutique.
2) It doesn’t require an explanation of its meaning. The pharmaceutical companies may prefer vagueness, but names like Syrgis and Sirtris could also be the latest Toyota car model. Sometimes if you get too clever, people just don’t get it and give up.
3) It describes your business. Lush could be a cosmetics boutique or a wine bar. Would you know that AimClear was an SEO Internet marketing firm? Your name will appear on signage, online and in advertising, so it’s a good idea to use that valuable space to remind people what it is that you sell.
4) It describes the benefit. What does the consumer get out of this relationship? Comfort Inn. Bliss MedSpa. Or my all-time favorite, ToyJoy.
5) It describes your unique difference in the marketplace. What is the spark that will be noticed by your customers? Look at your competition and determine your top three strengths that set you apart. Perhaps it’s service, cost, prestige, trust, skill, quality or a unique experience. Can you translate these into your name? Meridian Plastic Surgery Center conveys reaching one’s pinnacle in health and vigor, an excellent quality when looking for a surgeon.
6) It isn’t limited it by geography. Think big! If your business expands, you won’t want a name that limits you to a certain area or that implies you only serve a certain region. Also, if you’re planning to expand in a multilingual area, make sure your name translates well into other languages and doesn’t have any negative connotations.