Three Steps to Developing a Quality Name for Your Business

The name of your business is one of the most important decisions you’ll make. The name of your business will affect how people see your brand and how recognisable it’ll be to people who have heard about it before. Taking steps to ensure your business’s name is of high quality before registering can start your business off on the right foot.

This blog will go over three steps you can take to develop a quality business name. Then we’ll discuss what steps you should take once you’ve come up with the perfect solution.

1. Identify Your Brand Message

Start by deciding what message you want your name to communicate to the marketplace.

Whether you’re launching a new business or wish to reposition who you are, your message or mission statement needs to reinforce the key fundamentals of your business. The message needs to be clear and concise. By developing your mission statement, values and strategies, you will start to pinpoint the key elements of what to emphasise in your new business, product or service name. Determine and identify your business strategies and objectives while identifying suitable channels to deliver continued strength and growth.

Dig deep to understand how you want your brand to be represented in the marketplace and who your consumers are, more so, what makes them tick, what gets them excited and what will make them connect with your brand. During this process, you will also need to determine the following:

• New benchmarks or value adds you can introduce within your industry
• Development of new platforms that will engage new clients
• Identify ways to increase sales conversion rates
• Create opportunities that will help amplify and propel your brand, taking it to places it has never been
• What message do you want your name to communicate?
• Identify critical elements of your product or service offering and then use these terms to create a business name idea.

All of these critical points will help shape your unique brand ID or TAG –It’s part of the unique aspect that detaches you from your competition, allowing your customers to make a direct, personal connection to your new brand.

In an ideal world, the more your name can communicate to both staff, suppliers and consumers about your business, the less effort is required to explain it.

2. Give Some Clues and Convey Some Meaning

Identify critical elements of your products and services, then use these terms to create a  business name idea.

It is always a good start in the naming process to identify critical elements of your product or service offering. You can start to use these terms when you get your design juices flowing when creating your new name.

As previously mentioned, the more your name relates to your service or product offering, the greater the chance your consumer will have of identifying precisely what it is that you do. Some people prefer words they can immediately relate to and comprehend. On the flip side, avoid using geographic or generic names.

An example of this is “Murphy’s Paper Supplies“; this business would need to change its name if it ever wanted to expand its service offering to include other stationery products and supplies. See sample key elements by industry, refer to the table below:

3. Brainstorm, Identify Keywords and Start Creating

Unleash, be creative and start NameGrafting.

Research multiple sources for inspiration. Start writing down a list of keywords you would like to explore and use when creating your unique business name. Create keywords and concepts and ensure that they are memorable, unique, have aural qualities, brand story power and potential trademark, linguistic and cultural issues. Combine these words with the keywords you identified previously. You could also use Thesaurus to come up with more names that you can use in combinations, and make sure to write down your favourite name combinations.

As you have most probably found out by now, almost every word in the English language has been registered and trademarked; NameGrafting a name has become more and more popular. What is NameGrafting, you ask? This is a term NameKast created to describe the act of combining words to create your word, or in this case, a unique, cool and catchy business name.

Some examples of this are Compaq, Pepsi, Google, Reebok, Durex, FedEx, etc. Abstract, or made up “NameGraft” names, are great for branding and search engine optimisation because the chances are that no one else uses these identifying names, and google will send them straight through to your website. 

All you need is a good marketing strategy to direct people to search for your new business name idea website. An example of this would be Aereau. It means nothing to anyone, but it is instantly recognisable to people who have already been marketed to.

Don’t restrict yourself; make sure to think outside the square. Your ultimate goal is to create a business name that stands out and gets noticed. Creating new and unique business, product or service names is complex and beyond some people. So if you’re starting a new business, you may find the act of NameGrafting beyond your capabilities, don’t worry, just contact us, and we’ll do it for you.

What do I do Once I Have my Businesses Name?

Once you’ve found a high-quality name for your business, the next step is to register an Australian Business Name. We can help, with support for the whole name registration process, NameCorp can help you get your business off the ground without any obstacles. If you need any help, please don’t be afraid to get in touch.

If you’re still unsure what you want to name your business, we’ve created a guide to effectively naming your business that you can download here:

Disclaimer: All information provided on this webpage is general information about our business in Australia, and products and services. Nothing on this webpage is intended to be professional advice and should not be relied on as such. You should obtain specific financial, legal, or other professional advice before relying on the content of this webpage. By not seeking such advice, you accept the risk that the information on this webpage may not meet the specific needs of your business. Our liability is limited to the maximum extent permitted by applicable law in accordance with our website terms and conditions.