One of the most well-known missteps that new organizations make in giving the organizations a name is that despite the fact that the business name may be illustrative and exact, it ends up being very forgettable. One of the essential purposes behind this to happen is that the business name needs creativity.So regardless of what you choose to creative company names, ensure that it doesn’t need inventiveness, as this will guarantee that your business can make that truly necessary beginning imprint, and this will likewise guarantee a much smoother ride for what’s to come.
Numerous business names are chosen in the meeting room wherein various chiefs lounge around a table throwing names noticeable all around. With no aptitude in this undertaking (indeed, naming your business is an undertaking in itself) there is each likelihood that the great names are disregarded and what is picked is an unseemly business name. The final product of such an activity is your business missing out on getting the necessary consideration and blurring into insensibility.
What is special about a company’s name? A lot, when it comes to the potential success of the business, especially the emerging ones. Creative company names can have a significant impact on the growth of your business, while a bad business name can lead to obscurity and eventual failure.
When it comes to creative company names, there are various expert opinions on which a name can work best for your brand. Some experts believe that making your business name informative is the best way. That way, your customers have an idea of what services or products you offer.
Others believe it should be abstractive through which you can build an image. Some still believe that the best names are those that are made up of words, which you can easily remember.
So which one is right?
The truth is that any of the above expert suggestions can help you come up with creative company names that can work well for your business. But here’s the catch: you’ll need to have an effective marketing strategy to make it work. However, coming up with the right name and a marketing strategy can be an exhausting, frustrating, and overwhelming process.
In the process of generating your company name, consider your domain name too. You should have the right company name that also works well for your online presence.
If you want to know more about domain names, check out our guide on website name ideas for your company.
In this guide, we will give you all the detailed information on what works on creative company names, and how to find the best name for your company.Let’s get into it!
The Naming Game: What Works In Creative Company Names
Some coolest company names are descriptive, but unique. Examples are trading or finance company names such as E*Trade, Charles Schwab, African & Eastern Trade Corporation. However, other companies veered from the traditional route and came up with unique names, and they’re just iconic. Examples of such iconic names are Google, Apple, Xerox, Asus, Toyota, Kodak, etc.
Google, previously called BackRub, is an invented name, yet it’s so popular that it’s now used as a noun and found in dictionaries. Toyota comes from the name Sakichi Toyoda, the founder’s name. See what they did there? Asus comes from the Greek mythological winged horse, Pegasus.
Creative Names Vs. Products & Services
These are, no doubt, some of the coolest company names. Of course, you could say that these brands sell popular products, so it’s not a surprise if their names are popular. If so, the question then becomes, would the products alone be successful without the creative company names? Did the names help in the expansion of these businesses?
It’s quite right that other factors such as quality products and services can help a business grow. But these creative names had a significant impact on business growth because of the simplicity, impact, the emotion behind the names, and how catchy the names are. Most customers heard the name before they even found out who they were and what they did.
According to Incfile, you can increase your revenue by 23% if you keep using your company name and branding continuously. Other surveys suggest it can increase your income by 33%. So yes, your company name can have a huge significant difference in the growth of your business. So, focus your energy on finding proper trading company names for your trading business.
In summary, if you want a name that will work for your company, develop a name that’s unique, simple, catchy, and easy to remember. Let the business name be descriptive, lexical, evocative, or geographical, depending on your preferences.
You can also use your name or an acronym. Whatever way you do it, make sure it can resonate with your customers. Let your clients or potential consumers always remember your name. You can achieve this goal by using a strategic marketing plan or consistent branding.
Ask Naming Firms For Creative Company Names
We understand the process can be exceedingly overwhelming when developing your company name. That’s why you should consider naming firms to help you come up with the coolest company names. Naming companies have systems that help them to create better business names. For example, Compaq and Acura were created by naming companies.
They can advise you on bad business names you must avoid at all costs like how Larry Page and Sergey Brin realized BackRub wouldn’t work. The naming firms can also explain to you in detail why specific names are suitable for your business. But the disadvantage is the cost.
Professional naming companies can charge you $80,000 to create a name. However, you can equally find top names from naming firms that offer cost-effective, competitive prices. You can check our competitive prices for great business names for your company.
Mistakes You Should Avoid In Creative Company Names
There are specific mistakes you should avoid at all costs to help you come up with a perfect name for your business. Here are they:
Don’t Include Everyone In Your Decision Making
Generally speaking, it’s good to include our friends, family, clients, and employees in a crucial decision. You can end up with an informed decision from various perspectives. However, it comes with a few problems: If you don’t select people who are relevant to such decisions, you could make a grave mistake.
When naming your company, only include people who genuinely care about your business. Only involve a few vital decision-makers to help you come up with the right company name.
Avoid Using Plain Words
Some companies, such as General Motors and General Electric, have escaped the effect associated with using everyday words. However, it doesn’t mean it will be the same for you. With the rapid rise of advertising and media channels, you must come up with a name that stands out from the crowd. Otherwise, no one will know your business exists.
Don’t Use A City, State, or Region In Your Company Name
Even though using a state, city, or region as part of your business name may help in the beginning, it will become a problem when your business expands. An example is Minnesota Manufacturing and Mining. The company was growing past the state and its industry. They were quick to change the company name to 3M to avoid any hindrance in their growth. Kentucky Fried Chicken became KFC to prevent limiting their growth. These are great lessons to learn from.
Don’t Be A Victim of Genericization
Genericization is the process whereby your company or trademark and the product you offer becomes so familiar that people forget the difference between the two. When you hear that name, you think of the product, not the company that produces that product.