Choosing a company name involves brainstorming, eliminating undesirable names, checking for uniqueness, and ensuring it’s easy to remember and works well online. Consumer feedback can help finalize the decision.
Choosing the best company name is a process that involves a number of considerations. Ideally, the name you select should be easy to remember, have something to do with the products and services you offer, and work well in both traditional and online advertising situations. In order to find the right business name, owners should look closely at the scope of the business, the consumer group or groups that the business will target as customers, and how the business will be marketed.
One of the first steps in identifying possible company names is to engage in some simple brainstorming. This may involve nothing more than using a pencil and a piece of paper to jot down possible names. With brainstorming, the key is to not take the time to evaluate each of the potential names that come to mind. Instead, the goal is to write down all the word combinations presented by all participants in the brainstorming session. Each suggestion can be qualified later.
Once there is a list of possible company names to work with, the process of qualifying each name on the list begins. For the first round, go through and eliminate any names that are undesirable for whatever reason. This will help shorten the list considerably. During this process, it’s possible that while two suggestions are deemed unacceptable, they will provide inspiration for another name worth considering. If there is general agreement that the name should be added to the list, please do not hesitate to do so.
Ideally, company names should be as unique as possible. For this reason, any suggestions considered valid should be scrutinized to determine if another company is currently using that name or even a name so close to the idea that it would be confusing to consumers. Deleting any names that are already in common use or close to a well-known company name will help narrow down the list and move you to the next step in the creation process.
Since company names should be easy to remember, any remaining suggestions that are somewhat verbose or don’t slip easily off the tongue should be eliminated. This should leave you with ideas for names that are easy to pronounce, easy to remember, and are more likely to work well as part of a domain name. Even if there are no immediate plans to launch any sort of online marketing strategy or create a website, making sure the company name will work in this environment prepares the business for future online prospects while still making it easy for consumers to remember the name easily. .
Once your list of company names has been narrowed down to three or four options, take some time to get consumer feedback. This can be handled simply by conducting a survey of people on the street. Showing each consumer a list of the names and telling them the basic nature of the company is often enough to get an idea of how easy it is for the consumer to relate one of the names to the product line. Assuming that a company name emerges as the clear favorite of those polled, the creation process can be considered complete and the selected name can be copyrighted and registered, as well as used in incorporation documents for the agency.
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