Branding Agency London – 3 Colours Rule is a creative brand design agency. We are passionate about creating outstanding and effective designs to showcase the value of a brand. Our London branding consultants have worked in various industries and on numerous projects. Branding your company effectively is crucial for your success. If you want to create or revamp your brand, click here to contact us for a complimentary brand review or to find out what we can do for you. In this article we share few easy tips to create a company name.
Finding a great name for your company isn’t a straightforward process. You just can’t afford to get it wrong. It is your brand identity; it is the distinction from your competition and your recognition to existing and potential customers. 3 Colours Rule brand consultants have years of experience doing this. It requires skill and knowledge but you can sure give it a try. How can you create the perfect name for your company? Let’s start first with the different types of company names.
The different type of company names
It is about using words which already exist. Nonetheless, you can’t take any word; it has to be related to your universe. The best example is Apple Inc: a reference to Newton’s apple, therefore science and innovation.
Misspelled words are quite common and they work.
Flickr is the deformation of flicker
Google comes from Googol, a number with a million zeros. The purpose of Google is to bring the highest number of results on searches you make.
Take the two main concepts of your company and mix it in one word. The result can be amazing.
Facebook = Face + Book
YouTube = You + Tube.
Acronym can be a good option to insert the name of the founders of a company. Nonetheless, be sure the final company name is memorable and easily pronounceable. IKEA is the best example. The word IKEA is formed by the initials of the founder.
Ingvar Kamprad (I.K.), plus the first letter of Elmtaryd and Agunnaryd, which are the farm and the village where he grew up, respectively.
You can use a first name or a family name as your company name. Fist names tend to be more used by local businesses or the fashion & food industry. Family names work across various industries.
You can also invent you own word. The rule is the same as the acronym company name: it has to be easy memorable and pronounceable.
How to create a company name
Creating the perfect name for your company is the result of research and creativity. 3 Colours Rule have created 7 essential tips to help you do it right.
1) Be inspired by the universe of your company
What does your company sell? What is the world around your product/service? These are the questions you need ask yourself to find clues. It is always better when people understand what your company does through the name of your company.
Furthermore, listing all the words around your company’s activities can help you to find a name you would have never thought about. Google comes from the misspelling of the word “googol” which is the name for a number with a one followed by one hundred zeros. This number is the embodiment of the ultimate goal of the search engine: to provide billions of results on every search.
Think about how the creation of your company came up or why made you launch your company. It can also help you.
2) Think about your customer
The name of a company needs to appeal to your target audience. Your company name also has to be in the culture of the people you target. A name with a joke would not be well received in the financial world. Try to use words or expressions your clients would relate to. It will also create a link between their lifestyle and your business.
For example, Hello Kitty targets and appeals to young Asian girls and young women attracted to cute things.
3) Think further than tomorrow
Company name is your brand reputation. Changing your name would mean losing its identity and restarting from the beginning. It could be a strategic move if you are suffering from bad press. If you are planning to expand overseas, ensure the name you chose cannot be misunderstood in a foreign country.
For instance, Colgate encountered huge crisis while exporting their products in Latin America. Colgate means «Go hang yourself» in South American Spanish. It was impossible for the company to change their name: they struggled to sell their toothpastes.
4) Check the sound aesthetic of the name
How does the name you chose sound like? A good company name is catchy. People have to think « it sounds really good ». If it is the case, they will remember your brand and choose you when needed. Can people make bad taste jokes on your company name? If yes, think about another name because it may cause you some problems later.
Zizzi restaurants could never expand in France as zizzi is a nickname for male genital.
5) Have a look at the company names of your competition
If you suffer from a lack of inspiration, one of the best options is to have a look at competitors’ brand name choice. It will help you make you own opinion on which name will work best for your business or for you to standout. If you want to distinguish your brand, avoid taking a name similar to your competitors: prospects may think your businesses are related or you are just a pale copy.
E.g Law firms use their partners’ name.
Fried chicken shops
6) Check if the name is not already taken
Always check if the name you choose is not already taken so you can avoid a lawsuit. Don’t be perceived as a copycat as it will damage your reputation before you even started. Moreover, creating a website with similar brand name is not good for your SEO.
7) Ask for an opinion
There is a final test to check if the name you have chosen for your company is good or not. Ask your friends and relatives for their opinion. It is best if they don’t know the nature of your business to find out if the company name has the right association with your business. If you get a majority of positive feedbacks, you are in the right direction.
If you need help creating your company name, 3 Colours Rule can also help you.