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Your business name can influence how it’s perceived, who it appeals to and how successful it becomes. Choosing a name may be the most important decision you make. While it’s true some startups do well with inferior names, do you want to take the chance?
Consider this guide as a crash but definitive course in branding. If you are an entrepreneur who wishes to create an image for your company, you need to understand brand value and why branding is important. This tutorial will help you define your brand value and choose a brand name.
A business brand automatically gives your business or practice of a unique personality. When used correctly, a brand allows you to reach out to people – people who can relate to your vision and who have a strong interest in your products.
The identity of your brand, or its image, can be conveyed in one of several forms, with the logo being the most important. For example, most people easily recognize the logos or brand images of multi-million- and billion-dollar companies, such as Amazon, McDonald’s, IBM, Apple, and Google.
This type of recognition will give your brand value a notable presence online and off-line. Therefore, the logo you select should represent your business in a way that is memorable and distinct. Combine this with your company’s slogan, and you can make quite an impression by the “impressions” you receive.
Before you create an image or business brand, you need to consider what it will mean for your business and to your customers. This is an important consideration, as research shows that a whopping 80% of consumers forget branded content after only three days.
That fact, alone, can give you pause for thought. If you want your company to stick in people’s minds, you have to do more than share content about your services and products online. You need to make sure you have a brand that resonates as well.
Therefore, the value of your brand is related to brand awareness – something that can be challenging to gauge. That is when you have to take a litmus test. How is the media you are using communicating your company’s brand and its core values? Are you really getting the results you want?
If you don’t cement a positive image of your company into your customer’s mind, you cannot gain the respect and standing you need to stand out among the competition. Therefore, before you present that great product or service and make any customer promises, you need to identify your company’s brand. By taking this step, you can maintain a rapport with your employees as well as your customers.
Because your brand represents your company’s personality, you can create a brand image through various channels of communication. Branding permits you to share your products and services in a way that people remember. Without any type of branding in place, you cannot emphasize the one-of-a-kind qualities that make your business’s products or services stand out in the public eye.
Have you defined your business’s core values – beliefs that can be shared with your audience? If not, you need to work on your brand’s value and make sure it can be remembered and defined. Your brand’s core values mean a great deal if you want to make an impact in your field.
Directing Your Company to Meet Its Basic Goals
So, what, specifically, are these values.? Core brand values represent the beliefs that define your company’s basic mission and goals. You use your brand’s overall value as a type of compass – one that will direct your business decisions and interactions with your employees and customers.
Dedicating Yourself to the Customers You Serve
Every business owner faces times when he or she must make a difficult decision. However, if your brand value and core beliefs are strong, you can overcome even the most challenging conundrum. The belief system behind your brand’s value will serve you well, as it will permit you to do what is right for your business and the people you want to serve.
Therefore, recognizing your brand value makes the decision-making process more streamlined, if not effortless. Your company’s brand value enables you to live with your business choices, as it gives you direction with respect to your vision and overall mission.
The core beliefs that make up your brand value also influence how consumers perceive your company. This is helpful, as most customers more easily relate to a brand whose core beliefs parallel with their own. Your brand’s value extends to employees as well. Shared core beliefs help give your brand a certain uniqueness – a one-of-a-kind personality that people remember well.
When you place an emphasis on your company’s core beliefs and its brand value, you can build a business that will make you proud. Focusing on your brand image permits you to stay true to yourself and therefore create an authentic brand identify.
The Advantages of Establishing a Core Belief System
The belief system you establish is not about the services and products your feature alone. No, this type of belief system goes much deeper. It’s important to remember this when you are establishing your brand and its value for you, your customers, and employees.
Having a Great Product Just Isn’t Enough
Just because you feature exemplary software products does not mean that you have established the value of your brand. That is not enough when you are branding your business. Or, perhaps your company features a premium IT solution in the B2B market.
Again, that does not matter. It still does not guarantee that people will pay to renew their subscription. If you want people to remember your brand and buy future products or services, you have to stand behind your brand’s value proposition.
Consider this fact – According to the book, “How Customers Think: Essential Insights into the Mind of the Market,” and its author Harvard professor, Gerald Zaltman, 95% of buying decisions are prompted by the unconscious. That fact is significant, as that is the place where a company’s core belief system is found.
Here is a good example of brand value – American Express, a company that practically drips in brand awareness, demonstrates its commitment to brand value by promising to “provide the world’s best customer service experience every day.”
Therefore, to deliver your company’s brand value, you must enforce it as well as the core values associated with it. These values should be shared in your business’ infrastructure, culture, and daily operations. If your mission is to deliver the best service, you need to make sure the people you hire are motivated and engaged, or that they feel an emotional connection with your company. If you don’t commit yourself to your vision or mission, how can you get your employees to do the same thing?
You can do this more easily if you encourage your workforce to suggest improvements in the way everyone works. That way, you can keep things simpler and take ownership of how customer issues are managed and resolved.
Enjoy a More Meaningful Connection
You need to establish a brand value, as it can assist you in your decisions as a manager and support your brand storytelling as well. This form of communication allows you to convey your company’s message and core values through visuals, including color motifs, fonts, and your logo. Use your brand by communicating its value through the tone and substance of your messages – expressions that permit you to connect more personally with your customers.
Again, you can have a great product or service that features outstanding amenities or benefits. However, you really cannot connect with your customers if you cannot convey to them what makes your company great.
Why You Need to Enforce Your Brand’s Purpose
By creating a brand value and a core belief system for your company, you can realize the following advantages:
How to Discover Your Brand’s Core Values
You will find that the core values you establish for your company are not something you invent. Instead, they already exist. You just need to know where to search. You can do so more easily by doing the following:
Make Some Comparisons
To further explore your brand’s value, create a list of brands that inspire you and jot down the qualities that identify each brand. Note the consistent traits or themes that draw you to a particular brand and its product line. Use the resource to create your own brand value and to establish your company’s core beliefs.
When developing your brand image and value system, you need to incite action. Therefore, it is better to stick to action words or verbs rather than adjectives. Use words, such as “strive,” “respect,” or “understand” instead of “loyal,” “reliable,” or “affordable.”
While adjectives are good to use for describing products or characteristics, brand development requires a business to show its willingness to act or to do those things that will keep the customer coming back.
It is also important to create short and precise phrases when sharing your brand value. Doing so will help people remember your company. Your core values should be as unique as your brand image. Always be specific when you identify your purpose and how you want to be perceived.
Once you have given your company a personality and created its brand value, you choose a brand name. When selecting a brand name, you need to ask what makes your brand image stand out, or what is the glue that makes it stick in people’s memories? The following tips will help you create the right name for your brand.
1. Choose a Name that is No More than Two Syllables
While a long-winded name that contains more than a couple syllables may capture a person’s attention, it will not stick in his or her memory. Review successful company names that are household words, names like Twitter, Facebook, Google, and Starbucks. Better yet, keep the name under ten characters. Doing so will make the name easier to type, enunciate, and, most importantly, remember.
2. Make the Name Stand Out
When establishing a brand name, you don’t have to get too carried away with how you say and write it. If you just need to stick to the basics, with respect to spelling and pronunciation. That way, you will make the name easier to say and write, and more recognizable.
3. Create the Name from a Story
You can also make a brand name stick by creating a story. For example, you might create a logo and name that originates from a story about how the name came about. In this instance, the brand name, Zynga, is a good example of how a story can lead to a logo and a brand name. Zynga was named for the bulldog, “Zinga,” the pet of the company’s CEO. While that name is a bit difficult to spell, it still is memorable because of its story and origin.
4. Make the Name Instantly Recognizable
While you might think it is inventive to create a name that sounds witty and clever, such as giving a brand the name of some mythological god, most people will not relate. All you will leave them doing is scratching their head in confusion. Use a name that can be easily recognized – something that people can relate to in everyday life.
5. Get a Relatable and Memorable Logo
To make a name memorable, keeping it short and succinct is not enough. It has to have a memory-provoking feature. This often is supported by the name’s logo. For example, when you see the Apple logo, you associate it with the name Apple – a major multi-billion-dollar computer company. The Nike logo can also be associated with its name. All you have to do is see that all-familiar swoosh, and you know that the product is a Nike brand.
6. Choose a Descriptive Moniker
If you choose a descriptive name, Google can find it more easily. Therefore, it will help you in the search engine rankings if your name is descriptive.
7. Produce a Name that Gives People a Hint of What Your Business Does
You can also hint at what your brand represents. This way, people will instantly recognize the name for what your business features or sells. Two good examples of these kinds of names include Vitamin Water and Pizza Hut.
8. Make Sure the Name Has One Meaning
While your name may sound fine in your native tongue, it might take on a whole new meaning in another language. Therefore, perform a search for the name online to gain more insights on its possible usage.
9. Make the Name More Generic
Just because your company sells one product or service now does not mean it will not branch out in the future. For example, the company Boston Chicken changed its name to Boston Market when company officials decided that they wanted to sell more than chicken. Rebranding can cost money and time, so you do not want the name to be too restrictive.
10. Avoid Using Clichés
A lot of companies call themselves “Prestigious,” or “Top-rated.” That does not mean you need to follow suit. Clichés will not keep your name in the public’s mind.
11. Make Sure Your Brand Extends Globally – Not Just Locally
While you may have a community-based business, your brand still needs to be presented globally. To welcome people from various backgrounds the world over, use a language that everyone understands, stay culturally in tune with your audience, and respect the feedback you receive from the public. Make sure your brand can be understood by a diverse population.
12. Place Character over Consistency
Make sure your brand presents a strong message – one that reflects your mission and vision. While it is important to stay consistent, the character you convey is more important to your success as a company.
A brand does not spring to life overnight. It takes some planning. That is why it is good to carefully think about your company’s image and brand name. Doing so will prevent you from cringing or going back to the drawing board. Below are some errors that you don’t want to make.
Key Errors You Should Avoid!
To prevent any mistakes along these lines, highlight what you do and why it is important. Avoid doing the following:
When deciding on a brand image, it helps to have a business name that captures people’s notice – something that can be integrated into the mainstream and be remembered. The following information elaborates on naming your business to reflect your brand.
Besides choosing a great business name, it also helps to name your blog, so it draws interest to your brand. When you create a blog name, you don’t want to make a hasty decision. You need to consider how changing the name may impact traffic. Therefore, it is better to be safe than sorry. By choosing the right name now, you can prevent future traffic losses and can shed more light on your brand.
That means you need to be completely sure that the name works. Changing the name later will require that you change your domain name too. This type of alteration, as mentioned, can increase your risk of an organic loss of traffic. It also means a loss of social media followers. If you already have 1,000 likes on Facebook, you really don’t want to change your blog’s name and begin, again, from scratch.
The following tips will give you the inspiration needed to come up with the blog name that works.
Along with your brand, you need to know the best strategies for naming your product. The steps below can also be used for naming the brand.
Branding takes a lot of time to think if you want to do it right. However, don’t let that intimidate you. You can easily proceed with the activity if you create a mission statement and core values.
I hope this article helped you come up with the name that is both cool and easily remembered.
Now go up to our name generator, enter your cool name ideas or keywords, and the generator will do the rest of the work by suggesting available domain names that match your search criteria. Built-in whois script will uncover available domains, ideal for your business, blog or a product.
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