How to Come Up With a Perfect Business Name?

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A business name defines an organization’s mission statement and its vision for the future. It controls the emotions and behavior of customers towards the brand. Thus, defining an appropriate name that reflects the business is really important.

This is why owners spend a lot of time thinking about their brand name, and if it will be able to deliver what they want to their audience. It truly is a tiresome task.

In this post, we will see how you can come up with the most suitable business name according to your industry and preferences. We will see each step in detail so that you can come up with the best name possible.

So, without delaying anymore, let’s get started!

Generating a Suitable Business Name

There are two main ways you can create a suitable name for your business. One is to create it manually while the other is to use an AI name generator for it. We’re going to discuss both of these ways below, starting with the manual one. 

  1.  Manual Method

You can come up with an attractive business name manually through the following steps.

  1. Market Research

Conduct a thorough research in the market. Check for businesses with similar functionalities. See what branding they are doing and how they are using their name to attract customers. 

For instance, “Burger Lab” is a really good business name as it covers a lot of aspects of the business. First, it shows that we are talking about a food business. Secondly, the word ‘lab’ shows that the company is creative – meaning that they experiment and invent new flavors and styles with burgers. 

This becomes their USP (Unique Selling Point). The people are intrigued to try what new things they are doing to burgers, which adds to the company’s sales.

The above example shows that strong brand marketing was possible because the business owners came up with an attractive name for their business.

Hence, if you are looking to open a business, look around and analyze how other businesses are selecting and utilizing their names for successful marketing and brand building. This way, you’ll get a few ideas yourself.

  1. Brainstorming

Think about what emotional feeling your customers should get when they first hear your name. For instance, Starbucks is now synonymous with coffee and chill. Similarly, think about what your brand name should be synonymous with. How should the users feel about hearing your name and how will you build your brand around it?

This is what we call “brainstorming” – thinking about all possible ins and outs of a particular problem. This process technically involves other stakeholders as well as they come in and pitch their ideas for a perfect business name.

The stakeholders also brainstorm about possible liabilities with brand names in printing and packaging (logistics.) If the brand name is too long, then it might be a problem in creating labels for that product. It might cost more material in its branding, hence, the name can become a liability in the future.

This is where we need to reinforce another point to you – make your business name easy to remember. If you choose long brand names or names with high-knowledge jargon, then there’s a high possibility that people will forget it. They will move on with the next best option they have available, and you will lose key customers. 

  1. Get feedback
  • From industry experts

At this point, we are assuming that you might have some rough sketches in your head about your brand name. The very next step you want to take is to ask the industry experts in your field about how they feel about your business name.

If they think that it’s too cheesy, tone it down a bit. If you are from a technical field (very specific niche) then they might tell you to add some knowledgeable words along with your name. They can also suggest if you should go for an acronym or all the words pronounced.

It’s always a good idea to ask industry experts, especially from people who are already running successful businesses in your field. You can learn valuable lessons for your branding and succeed easily in coming up with a good business name. 

The experts know what works and what doesn’t so always consult them before finalizing a brand name.

  • From friends and family

We know that industry experts are the best people to consult for a business name. However, it’s never a bad idea to consult your friends and family as well. 

They are people who have always supported you in your best and worst. They also know you the most (personality-wise) as compared to any other person in the world. So, it is a good idea to consult them for an informative advice.

And besides all that, your loved ones can help you confirm the feeling for your business name. They work as outside agents who have limited knowledge of your field but can let you know if your name is working or not.

So, it is always a good idea to take a second opinion and see what others think of your intended name.

  1. Use of AI name generators

So far, whatever we saw was manual work. Hours and maybe days of mental strain just to come up with a perfect business name can be unrealistic for many people. They either have multiple businesses or personal life engagements that make it impossible for them to think hard and brainstorm the perfect name.

This is where automated name generators come in. These generators are AI-based so they have the power to generate business names in no time. 

For exemplary purposes, we chose a random tool that we found by searching. It is the Business Name Generator by Editpad. Here’s what it looks like.

Let us now see how we can utilize it to our advantage in just a few steps. 

  1. Analyze and determine your business niche

To make the most out of AI generators, you need to select a business niche – or the industry where your work is suitable. For instance, a car mechanic workshop will land in ‘Automotive and Vehicle Maintenance’.

When you land on the Editpad tool’s main page, you will be asked to choose a niche. This helps the tool filter out unnecessary names and display the ones that are only relevant to your field. 

Do note that the tool can also work with a ‘standard’ niche but we still recommend selecting a field for more specific answers.

Here’s what it looks like after we selected the niche.

  1. Identify your niche’s keywords

The next thing you should be aware of is your business’s keywords. The keywords are the words most attached to your brand name. Or the words that people are most likely to type in search engines when they’re trying to find something related to your business.

If you are having trouble finding the keywords, then you can use AI tools like ChatGPT, Bard, and Bing AI. Just give them your executive summary and ask them to generate relevant keywords.

You can also get help from tools like Ahrefs to get keywords with high search potential. Such keywords can also allow you to rank on top of search pages, further improving your sales.

Afterward, when you have the keywords for your business, you can use them with the AI generators to get a brand name. Here’s what it looks like once you add a keyword related to your niche. We added “Electric Cars”.

  1. Get the results

With this tool, there’s also an option for ‘No. of Names.’ This option means the number of results you will get when you click the green “Generate Names” button. Increasing this number means more name options for your business. 

Finally, this is how our result for the keyword ‘Electric Cars’ in the industry of Automotive and vehicle (maintenance and repair) will look like.

Now, you can use the name that you think suits you the best.

Please remember that there are countless AI tools available online that can generate business names for you. So, it’s easy for you to get your work done with whichever tool you like. Our guide should be a starting point for your finding your business name and not the other way around. 

Final Words

There are two basic ways of coming up with a perfect business name. In this post, we’ve discussed both of them in detail. You can use whichever one you like.

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