Naming A Business – A Long-Term Strategy:
It all starts with an idea or vision that you want to turn into a business. But before you rush ahead, you need to choose a name. Naming your business is more than just picking a catchy phrase—it's about creating a brand identity that resonates with your audience and communicates your values effectively and what your business does. You want to create a name that doesn’t just work for now but that will grow with you, and that’s where many get stuck.
A name is not just a name, as we said above; it’s your brand, and it goes on everything. Your website, emails, business cards, and promotional materials will all be emblazoned with your name, so it needs to be eye-catching, intriguing, and something that encourages connection with your audience, but most importantly, it must be able to grow with you. With so much investment at stake, it’s risky to name for the short term, but many people do, which can be costly in terms of money, time, customer, and industry standing. So, where do you get started? How do you select an evergreen name that will grow in value as your business does? Well, that’s what we will address in this month's Jane Hayes Consulting blog, How to Name a Business.
The Importance of Choosing the Right Business Name:
Your business name serves as the cornerstone of your brand identity. It’s the first impression customers have of your business and plays a crucial role in shaping perceptions and fostering brand loyalty. A well-crafted business name should be memorable, reflect your brand’s personality, and be easy to pronounce and spell. Moreover, it should be available as a domain name across social media platforms to ensure consistency in your digital footprint. Your business name should reflect what your business is now and what it could be in the future; future-proofing is an essential component of an effective choice.
1. Define Your Brand Identity:
2. Know Your Audience:
3. Brainstorming and Ideation:
4. Check Availability and Legality:
5. Evaluate Name Options:
6. Get Feedback:
7. Register Your Business Name:
8. Futureproofing Your Business Name:
Steps to Name Your Business:
1. Define Your Brand Identity:
You must have a clear idea of your brand identity when starting the naming process. What will you stand for? What are your values and mission? Start by clarifying your business’s mission, core values, and USPs. These foundational elements will guide your naming process and ensure alignment with your overall brand strategy. A name will often tell your audience a lot about you before they continue getting to know you. Your business may be focused on sustainable food production, so your name could connect with nature or be sourced from a business term. This strategy helps alleviate fear from the customer's selection process; it helps to reassure them that you are who you say you are.
2. Know Your Audience:
You must have an expansive knowledge and understanding of your desired audience. Who are they, what do they stand for, what are their ethics, what are their pain points, etc.? Your business name and business, in general, should resonate with your ideal customers and evoke positive associations that drive engagement and loyalty. You and your team will have personal preferences regarding your business name and direction, but be cautious that personal preferences don’t overshadow what will connect with your audience.
3. Brainstorming and Ideation:
A Brainstorming session is an effective way to start the naming process. Whether doing this solo or with a team, gather and brainstorm visually and with written notes. Print out images that connect to your business – products or services and place them on the walls with words that also connect. Research what names already exist in the market and the ones of your identified direct competitors. Think of process words (words involved with making your product or involved in the services you provide), and take inspiration from the history of your industry or the ingredients used when creating your products.
Say you’re a fragrance manufacturer, you may look at words that have a connection to the history of perfume, the feelings that are conjured when wearing perfume or how you want your customer to feel. All these strategies can help you create a name that truly connects with your offering and taps into your customers emotionally. Keyword research tools like Google Keyword Planner, SEMrush, or Ahrefs can also be helpful in the process and later when marketing your brand.
4. Check Availability and Legality:
After your brainstorming sessions, you may have a selection of names you are considering. The next step in the naming process is key: looking at the availability and legality of the names in question. Some people get so caught up in the creative mindset that they skip past this step and live to regret it. Ensure your chosen business name is available as a domain name (.com is preferred) to establish a cohesive online presence. Use domain registration platforms like GoDaddy or Namecheap to search for availability and secure your domain.
Conduct a trademark search to verify that your business name is not already trademarked by another entity. Visit trademark databases such as IP Australia or WIPO (World Intellectual Property Organisation) to perform a thorough search. In Australia, some words aren’t allowed to be used in a business name; these are classified as offensive; other limitations you may encounter are names that include restricted words. Restricted words include Incorporated", "Charity", "Bank", and "University", according to ASIC. A restricted word or expression is not available to be registered unless it is required by law or the Applicant has received written consent from the Minister, the Minister's delegate or the relevant public authority.
5. Evaluate Name Options:
Your selected names might seem like a good choice, but are they a brand fit, and will they appeal to your desired customer? It can be easy to get swept up in personal preferences, but you're not just trying to appeal to people like you; the name you select must appeal to many to lead to a successful business. Assess each potential business name’s brand fit, appeal, and memorability. Consider how the name aligns with your brand’s values, vision, and target audience perceptions. If you are thinking of operating internationally, it is also imperative that you research any translation issues that might occur with the name.
6. Get Feedback:
Getting caught up in the process can be easy, so receiving feedback on your choices is important. Seek input from focus groups, surveys, or trusted advisors to gauge initial reactions to your business name candidates. Pay attention to feedback regarding clarity, relevance, and emotional appeal. You can also use your social media platforms to help gain feedback on your name choices and give away as much or as little information as you like in the process. This can be an effective way to gain insights from people out of your network, even potential customers. Create polls, videos and have some fun in the process, this can be effective for getting some initial exposure and potential customer buy in even before the business launches.
7. Register Your Business Name:
With the amount of energy required in selecting a name for your business, it’s so important that you register and safeguard your name after the final selection. Register your business name with the appropriate authorities to establish legal ownership and protection. Depending on your location, this may involve registering a Doing Business As (DBA) name or incorporating your business entity. Register your names on social media platforms to ensure they are available and to maintain brand consistency online.
8. Futureproofing Your Business Name:
As you finalise your business name, it’s crucial to consider its long-term viability and adaptability in a rapidly evolving landscape. Here are key strategies to future-proof your business name:
Scalability: Choose a business name that allows for future growth and expansion. Avoid overly niche or limiting names that may restrict your business’s potential in new markets or industries.
Timelessness: Opt for a business name that transcends current trends and fads. While trendy names may initially attract attention, they can quickly become outdated. Aim for a timeless name that will remain relevant and resonant over the years.
Flexibility: Consider how adaptable your business name is across different product lines, services, or geographic locations. A versatile name allows for diversification without losing brand coherence.
Global Appeal: If you plan to operate internationally or target global markets, ensure your business name is culturally sensitive and universally understood. Conduct international market research to avoid unintended cultural misunderstandings or misinterpretations.
Digital Presence: Secure your business name not only as a domain name but also across relevant social media platforms. Consistent branding across digital channels enhances brand visibility and reinforces brand identity.
9. Tools and Resources for Naming Your Business:
To simplify the process, we have included some resources to help guide you through your naming process.
· Domain Registration Platforms: GoDaddy, Namecheap, Bluehost, Domain.com,
DreamHost, BlueHost
· Trademark Search Databases: IP Australia, WIPO (Global)
· Keyword Research Tools: Google Keyword Planner, SEMrush, Ahrefs
· Social Media Polls: Instagram Polls, Facebook Surveys, LinkedIn Polls
· Visual Mood Boards: Pinterest
Conclusion:
Naming your business is a pivotal step in building a successful brand identity and establishing a strong digital presence. By following these practical steps and leveraging the right tools, you can create a business name that resonates with your audience, reflects your brand’s values, and sets you up for long-term success in the competitive digital landscape. Remember, your business name is more than just words—it’s the foundation upon which your brand story unfolds.
How To Name A Business?
Jane Hayes Consulting, Leading You Through The Digital World
Jane Hayes Consulting is an independent digital marketing agency founded to help businesses create consistent, creatively aligned, and strategic content. Jane Hayes Consulting can help you put your best foot forward with our expertly crafted team covering website design and building, marketing strategy, content creation, brand creation, and project management. We work within budget restraints and look toward the future. Need assistance in developing your digital strategy and creating a business advantage? Contact Jane Hayes Consulting today and sign up for our newsletter.