How to Choose a Great Business Name | Creating an Amazing Brand

There are an estimated 30000000 companies in the world today. That's roughly one company for every 26 people. With so many brands in the world, ranging from huge brands like Coca-Cola and Apple, to small brands like Mom and Pop shops. It's becoming harder and harder to stand out. So how can you create a brand name that can help position your company in this increasingly more competitive scenario and stand out from a huge crowd? Today I'm going to teach you how to choose a great business name that will help you grow your brand.

POWERFUL BRANDING STRATEGIES PLAYLIST:
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There are so many businesses nowadays, it can be hard to find a good business name. Over 627000 businesses open each year, according to the Small Business Administration. That is 627000 fewer names to choose from every year. Well, if you're worried, don't worry, I'm here to help, so don't worry.

First off, let's start off by going over what makes a good brand name.

Repetitive brand names affect consumers' branding elevations, reactions to cross-selling and product choices. A good brand name can be any number of things.

Meaningful, right? That cultivates a positive emotion and connection.

Visual, brand name that's communicated through design or logo. Distinctive, stands out from your competitors.

And Accessible, easy to interpret. These are just a few ways in which a brand can provide value. However, the most important question that you need to ask yourself is, especially when you're creating a brand, does it resonate with your audience?

The first thing is, consider the audience you're targeting. If you're targeting a hedge fund investors, do you think a name like Jelly Belly or Coca-Cola would work? Especially for creating some hedge fund type of product? Of course not.

So the first thing you want to do is consider the audience that your brand is targeting.

If you have a poor understanding of the audience you're targeting, the next steps will fail. So it's important that you really put your audience in the center of everything.

The second thing you need to do is select what type of name you want.

Some people can successfully get away with using their name as their business. These are typically embodied in their vision of the founders. An example of this is the Michael Jordan Brand himself, right? Jordan shoes. He's using his last name.

The next one is acronyms. These are shortened versions of descriptive names.

The third one is descriptive. The name of your company can legitimately describe what your business is. American Airlines, Home Depot. These are examples of names that tell people exactly what the company does. This avoids any confusion. It can be boring at sometimes, but it works well.

The fourth one, suggested names and there are three types.

Real, these are terms that are taken straight from the dictionary.

Composite, mixing to dictionary words together into one. Facebook is a prime example of this.

Invented. Sometimes they're just not enough words in a dictionary to come up with your own brand, so you have to invent one.

The fifth one is associative. A reflective meeting back to the brand, a name that has a metaphorical meaning, such as Sirius XM, right?

The fifth one is names that derive from another language, right? See, sometimes a la--, name won't make sense in your language but it will make sense in others.

The next one abstract name. This is where the power of phonetics comes into play.

Now a pro tip for you, make sure it's a name that can be trademarked or copyrighted.

You need to figure out what your big idea is and how you can translate that into your brand name. You can even try testing with different brand names to see where you find the most success.

00:00 - Introduction
01:02 - So, What Makes A Great Brand Name?
01:55 Tip 1 - Consideration Of The Audience
02:30 Tip 2 - Select The Kind Of Name You Want ( Descriptive, Suggestive, Associate, Etc )
05:20 Tip 3 - Decide What You Want The Name To Say
06:11 Tip 4 - Trim Down On Complexity
06:55 Tip 5 - Last but certainly not least, make sure your name isn’t already taken

#Branding #Marketing #DigitalMarketing

[jewekclashroyale]

If I have twin daughters, I'll name one Kate

And I'll name the other "DupliKate"

[eddy.nmartinez]

Let me quote: “If you’re worried, don’t worry, I’m here to help, so don’t worry.” Lol 😂

[myeverydaymarketing]

Chossing the right name is so important!

[FirdousBhat]

Nice, but where you getting these ideas want to know

[kiranrai]

Thank you for this video, I came up with a name two mins into the video 🙌🏼

[sutapamazumdar]

I found this presentation very novel although I have read a ton of other resources. Thank you!

[almaner]

The dude straight up paraphrased the TED talk of Jonathan Bell about company names lmao

[coachankitpandey]

Thanks neil. I was stuck while deciding the name for my business. Thank god I serched How to find name for your business and your video comes up.
This is very insightful 👏

[warrensantos]

Good points. Jordan Belfort named his company Stratton Oakmont to sound more credible. Another example is Ray Kroc; he says he bought out McDonald's not because of their system, but the name. Nobody would eat at a restaurant called Kroc's but an all-American name like McDonald's appeals to everyone.

[IndiaIVFClinic]

Hi Neil can you please make a video on direct vs organic vs referral (Paid and unpaid) traffic and their respective impact on SEO?

[AJMotivation]

Hi, Neil Patel, Should I buy running website (blog) ? What do you suggest?

[dv]

Hi Neil, how often should I post in my food blog to start making money from it through ads? Currently I’m posting one recipe per week consistently and my mission is to get my blog monetised by the end of one year of Blogging. So Is posting once weekly enough? Or should I blog more?

[mahdimiad]

Hi Neil,
The camera and screen that you are reading I think was not so close that is why we can feel that you are reading from screen or teleprompter

[alimuslim]

Neil Patel: Is there any site that automatically selects the brand name for us?

[soyhanonder]

Hello Neil. Thanks again for your backup.

[parveshkhatri]

I have a question,
Imagine you have a very small websites, you write an article on a topic which is already every major competitor have.
Is it possible to bring the article at top with SEO only because a small website have very small number of visitors. How can google decide any article from a small website is better than others if there are almost no people going to that article.

[ranjansri]

Asana/Asan/आसान in Hindi means easy.
Asana is a big name in the project management software category.

FedEx - Federal Express
Highering for Hiring or Hire with Highering

[sunilnair]

Hey Neil I get a good amount of traffic with good engagement and low bounce rate for my blogs.
But the problem is I get very little affiliate sales from my blogs compared to the amount of traffic I receive.
Could you make a video on this topic helping people like me?.
It would be really helpful.
Thank you

[hannahmiller]

Think about if a business could be possible taken in a negative way. Like of you call your business lemon landscaping for example lemon is also a slang word for a car that breaks down quick after buying it so that's not something you want associated with your work, something that you thought was good but ends up failing

[amangarg]

Can you tell a business model using digital marketing ?