A business name is one of the most valuable things you can own as an entrepreneur. It defines your identity, logo, and branding, helping you stand out from the crowd. That’s why picking the right name is a crucial step. But it’s a challenging task to undertake.
Several factors constitute a good business name. For one, we previously mentioned that imprecise brand names are a huge no-no. Your name should embody what you offer, differentiate you from competitors, sound memorable, and have an emotional appeal.
It is also getting increasingly difficult to pick a distinguishing name, considering the massive amount of new business registrations per month. The US Census Bureau recorded 400,000+ business applications in December 2022 alone.
Fortunately, new business owners can use a business name generator. It is an online tool that creates name suggestions based on the information you provide. Armed with this tool, you have better chances of deciding on a strong name that represents your business.
Below are some reasons why using a business name generator is a smart decision.
1. You save time.
The process of creating a brand identity varies but with proper research, brainstorming, and testing involved, it could take weeks or even months.
Using a business name generator will hasten the branding development stage, seeing as one of the biggest hurdles to overcome is finalizing the business name. With a business name generator, you can have your business name created in minutes.
2. Brainstorming will be easier.
Your name is your identity, so it’s important to brand your business accurately. By brainstorming with a name generator, you can narrow your choices.
Even if you can’t find the perfect name out of the results produced, you can use the suggested names as a springboard for further brainstorming. Try using Namechk’s business name generator, and you’ll get a steady flow of suggestions. Reading the suggestions alone can help you visualize your identity.
3. It is cost-effective.
Every seasoned entrepreneur agrees that starting a business isn’t cheap. According to The Motley Fool’s report on the costs of starting a business, startup founders spend an average of $35,000 in the first year.
Included in these expenses are branding and marketing services. While hiring a branding agency can be beneficial, the fees can be costly.
Using a business name generator is free. It’s a good DIY alternative if your startup budget is limited.
4. You can settle on a unique name.
Business name generators typically use artificial intelligence algorithms to generate results. These algorithms take into account the availability of names online so that once you’ve chosen a business name, you can grab a domain name easily.
Harroch and Miller expertly describe the importance of domain names, explaining that they are valuable real estate assets in the digital space. Therefore, domain name availability should be considered when finalizing your business name.
Fortunately, name generators streamline this process by partnering with website hosting providers.
5. It can help with SEO.
Search engine optimization (SEO) is a vital component of any online marketing strategy. As we explained before, SEO is critical if you want people to visit your website. This is because SEO best practices improve your online visibility and help propel your business to the top search engine results.
Business name generators provide results based on keywords. That means any name you choose from the list will contain a word strongly associated with your industry.
Brightlocal’s 2022 survey on consumers found that 90% use the Internet to find a local business. So if a customer searches for a relevant word that may be part of your name, your business has a higher chance of appearing in the search results.
A business name generator offers numerous benefits for startup founders. It speeds up the brainstorming process and provides an affordable alternative to hiring branding services. Moreover, it can improve your business’s online visibility by helping you secure a domain name and suggesting SEO-ready names.
There are various business name generators you can find online. Make sure to do your research first so that you will be able to choose one with features that cater to your business needs.