Choosing a name for your company is hard. It’s a decision making process with so many options that you can be sure you will leave out the best ones. The possibilities are endless and maybe the names of your existing rivals are so catchy and popular that you need to choose something that will make your company stand out. But it is not a simple process to choose a name that your company will be known by for as long as it exists.
There are a lot of opinions on naming of a company. Some say that the name should reflect the work of the company. While some say it should be completely abstract. Others will tell you to coin a word for your company and others still will advice against it.
There is no sure shot way to come up with a good company name. This is what makes the process more difficult. We are here make it a little simpler for you. Here are some tips on choosing your company name:
Hire a Professional
There are professionals out there who can give you names that are sure to make a mark on the market. The good ones will cost you quite a bit but then the name is important for you. Some companies will even offer to do the whole branding of your business with logos, tag-lines and everything else thrown in the package. See if you can find someone who can do it and comes under your budget.
If this is not an option then read on.
Write down all relevant words that apply to your business and see what you can come up with. Combine them in all possible ways you can. There’s an online tool called Bust-a-name that can help you with this. It gives you domain names based on the keywords you add. It will even eliminate the names that have already been taken. So you don’t have to worry about getting a website under the name.
Ask your friends and family to suggest you some names. But don’t put much weight in their opinion because you know your business, they don’t. What you come up with will always be more relevant than what they can think. Having said that, there is a rare chance that they can come up with something brilliant so do not ignore their opinions.
Make something up
You don’t have to stick to the current dictionary words for the name of your company. You can make a word up. Now this is a very creative method so it’s not that easy but if you can think of a word that sounds appealing to you then write it down. Some experts would say that the name should at least hint at what your company is doing, this is not a strict rule though. Google and Napster didn’t mean anything to most people but they became synonymous with the service they offer. Trust your guts.
Once you have your list of words start eliminating words one by one. First bring it down to 25, then 15, then 5. Now that you have the best names for your company, you can do some A/B testing to see which works best for you. You can use a service like LeadPages for this.
Or if that is not an option then you can ask around to see which will appeal most to your customers. Choose the one that gets the best responses.