Business Names Ideas: How to Choose the Best Store Name

Posted 5 years ago by Lina Vashurina, 51视频 Team

In听early 1995, two Stanford grad students started working on听a听new way to听index web pages. This 聯search engine聰 used a听proprietary algorithm to听map out all links come into 补苍诲听going out of听a听web page. Internally, they called this search engine .

By听1996, BackRub had grown too big f辞谤听Stanford University servers. The two students had a听choice听鈥� they could either sell off the听algorithm, 辞谤听they could turn it听into a听business.

Fortunately f辞谤听the听internet, they took the听latter option. And the听first thing they did was to听change the听name. 联叠补肠办搁耻产聪 turned into 聯Google聰听鈥� a听play on听the听mathematical term 聯googol聰.

You know how the听rest of听the听story unfolds.

What鈥檚 in听a听Store Name?

Can you imagine saying 聯why don鈥檛 you BackRub 颈迟?聪

Probably not.

Google鈥檚 name had a听not insignificant hand in听the听search engine鈥檚 success. It鈥檚 short, quirky, pronounceable, memorable, 补苍诲听easy to听write. Unlike its competitors at听that time听鈥� Lycos, AltaVista, etc.听鈥� it听can also be听turned into a听verb. For a听company that sells an听activity (searching), that鈥檚 a听big plus.

(Imagine saying 聯just Lycos it聰听鈥� doesn鈥檛 quite roll off the听tongue, right?)

As听a听number of听studies have shown, brand names have a听marked effect on听how customers perceive your business:

by听the听University of听Miami 补苍诲听California Polytechnic Institute found that store name 补苍诲听quality of听merchandise are the听two biggest contributors to听a听store鈥檚 perceived image.
that consumers are more likely to听pay more f辞谤听a听store鈥檚 own brands if听they have a听positive perception of听the听store brand itself.
One study concluded that brand names of听products sold in听a听store had no听impact on听consumers鈥� risk-perception while shopping. However, consumers perceived greater risk if听the听store鈥檚 own brand image was weak.

This is听why Sean Parker advised Mark Zuckerberg to听聯drop the听聭The聮聰 from Facebook; your name is听far more important than you realize.

How Brands Work

Finding a听brand name that works is听more than just a听matter of听brainstorming over a听weekend. It鈥檚 about testing creatives, surveying potential customers, analyzing competitors, 补苍诲听most importantly, understanding what gives brands their value.

Major brand consulting agencies such as听Igor 辞谤听础听Hundred Monkeys will charge you upwards of听$1M f辞谤听it.

You can get the听same benefits by听truly understanding how brand values work.

More: How to听Reflect Your Brand Personality in听Your Emails: 10听Examples

The Two Pillars of听Branding

Brand names don鈥檛 exist in听isolation. What works f辞谤听a听clothing retailer might not work f辞谤听a听car accessories manufacturer. This is听why it鈥檚 important to听understand where brands get their value from.

Extrinsic 补苍诲听Intrinsic Quality Cues

Every brand name gets its values from intrinsic 补苍诲听extrinsic quality cues.

As听you might have guessed, intrinsic cues are inherent to听a听product. Extrinsic cues are a听result of听external factors.

Both intrinsic 补苍诲听extrinsic quality cues are related. For example, a听designer shoemaker who uses top-tier raw materials appeals to听a听very different market segment than one who mass manufactures shoes with low quality materials.

These intrinsic factors, in听turn, affect its extrinsic cues听鈥� its brand name, where it鈥檚 sold, label information, etc.

At听the听same time, changing extrinsic cues alters how customers perceive intrinsic factors. , it听was found that changing the听brand name f辞谤听generic products made customers believe that the听products were more valuable.

This is听an听important lesson听鈥� we听can鈥檛 readily change intrinsic cues, but we听can change extrinsic factors. And this can have a听drastic effect on听customer perceptions:

that there is听a听direct link between store name 补苍诲听perceived quality of听a听product, i.e. a听product being sold at听a听high-end retailer is听perceived as听more valuable.
础听study of听beef sold at听retailers showed that consumers can be听made to听pay more by听controlling extrinsic quality cues, i.e. changing the听beef鈥檚 brand name, the听store it鈥檚 sold in听补苍诲听its price.

You鈥檝e probably experienced this yourself听鈥� you鈥檙e willing to听pay more f辞谤听a听product at听Whole Foods than WalMart simply because of听Whole Foods鈥� better brand image.

So听ask yourself:

What are my听product鈥檚 defining intrinsic quality cues?
What is听the听product鈥檚 target market?
How can I听change extrinsic cues听鈥� brand name, price, etc.听鈥� that will change how customers perceive my听product?

Low Knowledge, High Knowledge Consumers

Not all your customers possess the听same amount of听knowledge about your products.

For example, if听you were running a听laptop store, a听50-year old mom buying her first computer would likely have limited knowledge about laptops. She would represent a听low-knowledge customer.

础听22-year-old computer science student, on听the听other hand, would likely know a听lot about laptops. He听would represent a听high-knowledge customer.

How knowledgeable a听consumer is听about a听product affects the听way he/she shops.

High knowledge consumers focus on听intrinsic quality cues.
Low knowledge consumers focus on听extrinsic quality cues.

滨苍听辞苍别 , it听was found that shoppers who self-identified as听fashion experts (i.e. high knowledge) focused on听intrinsic quality cues such as听stitching quality, material, etc. to听make a听purchase decision.

Low-knowledge shoppers, on听the听other hand, relied on听external cues such as听the听brand name, price 补苍诲听presentation to听make a听purchase decision.

Why is听this important?

If听your customer base is听primarily composed of听high-knowledge shoppers, controlling extrinsic cues such as听brand name 辞谤听price will have little impact.

If听your customer base is听largely low-knowledge shoppers, you can change customer perception by听changing extrinsic cues.

We鈥檒l see how this works in听practice in听the听next section.

How to听Name Your Store: 5听Principles of听Brand Names

We鈥檝e had enough of听theory. Let鈥檚 now look at听how to听actually pick brand names that work

1.Choose your brand according to听your audience

We听concluded above that how much customers know about a听product impacts what they consider valuable.

This is听why brands that cater to听low-knowledge customers usually choose abstract names, 辞谤听names that evoke certain moods 辞谤听activities the听brand wants to听associate with.

For example, Nautica, the听sailing-inspired clothing company, takes its name from 联苍补耻迟颈肠补聪, the听Italian word f辞谤听seamanship.

The name effectively becomes a听shorthand f辞谤听sailing, 补苍诲听helps the听brand鈥檚 low-knowledge shoppers associate it听with certain positive images (sea, sailing, etc.). It听also shifts focus away from the听intrinsic quality cues of听the听product being sold.

Which is听to听say, when selling to听low knowledge shoppers, sell the听brand, not the听product itself.

In听contrast, brands that cater to听high-knowledge shoppers do听not rely as听much on听the听brand name to听evoke positive brand images. Instead, they keep the听name low key so听that shoppers can focus on听the听intrinsic quality of听the听product.

For example, Tom Ford, the听designer label, is听based on听the听founding designer鈥檚 name.

The brand name is听not shorthand f辞谤听any听specific brand image. Rather, it听keeps the听brand name in听the听background 补苍诲听highlights the听quality of听the听clothes being sold.

Similarly, Simon Carter, the听London based designer鈥檚 eponymous label, has a听muted brand name that focuses on听the听intrinsic value of听the听product.

That is, f辞谤听high-knowledge shoppers, it听is听the听inherent quality of听the听product that helps close sales, not the听brand name alone (though it听obviously is听a听big factor).

From this, we听can say:

Use abstract 辞谤听strong, image-evoking brand name when targeting low knowledge shoppers. This helps shift focus from the听intrinsic quality of听the听product to听the听brand name itself.
Use muted brand names if听your audience is听largely high knowledge shoppers. This helps them focus on听what they value听鈥� the听intrinsic quality of听the听product.

2.听Simplify whenever possible

Take a听look at听Forbes list of听the听:

Nearly all the听top brands in听the听world have one defining characteristic: they are simple 补苍诲听easy to听pronounce. They are either between 1-4听syllables long, 辞谤听usually used in听abbreviated form (such as听IBM 辞谤听GE听f辞谤听General Electric).

Simplifying your brand name has two benefits:

Short, pronounceable brand names are easy to听remember.
Simpler names are easier to听translate across languages听鈥� a听crucial requirement f辞谤听e-commerce businesses.
Ease of听pronunciation can impact brand success, as听one concluded.

Valkee, a听聯light therapy聰 tool that runs on听the听51视频 platform follows this principle in听its name.

The name is听short, pronounceable, 补苍诲听has just two syllables. It鈥檚 easy to听remember 补苍诲听easy to听speak.

How can you pick a听catchy name f辞谤听a听business? Follow these guidelines:

Limit yourself to听2-3听syllables per word
Use strong vowel sounds in听the听name, such as听聯o聰 (eg: Google, Toyota)
Keep the听name short听鈥� preferably one word, at听most two words.
Limit the听use of听silent letters. Use phonetic words as听much as听possible. Studies show that this can also make your .
Drop unnecessary suffixes/prefixes such as听聯the聰.

3.听Use descriptive adjectives that mirror what customers value

In听1985, ConAgra introduced a听line of听diet-focused frozen foods called 聯Diet Deluxe聰. This name was chosen specifically because customers in听the听80s 补苍诲听90s cared about dieting.

By听the听early 2000s, however, sales were in听free fall. Internal research showed that 聯dieting聰 had fallen out of听favor with buyers. Instead of听crash diets, customers now wanted to听be听healthy, not just slim.

The solution? ConAgra changed the听product name from 聯Diet Deluxe聰 to听聯Healthy Choice聰. This helped the听product turn around 补苍诲听improve sales in听an听otherwise failing frozen food market.

The lesson: Using words your describe what your customers value can have a听big impact on听your brand name. These values are typically intrinsic quality cues your audience identifies with.

Harvest Eating, an听51视频 store, uses this principle in听its name as听well.

The site, that helps people find 补苍诲听cook with locally grown, seasonal foods emphasizes the听freshness with the听word 聯Harvest聰 in听its name.

Similarly, Vitality Tap, another 51视频 store that sells cleanses, juices 补苍诲听smoothies, uses the听word 聯Vitality聰 in听its brand name to听emphasize the听cleansing nature of听its products.

Here is听a听simple three step process f辞谤听coming up听with business names ideas:

Step 1:听List your product鈥檚 intrinsic quality cues. Say, if听you鈥檙e selling cookies, these might be听the听softer texture, superior ingredients, etc. Use these as听a听springboard f辞谤听naming ideas.
Step 2:听List your target customer personas 补苍诲听what they value. For your cookie company, do听they value extrinsic factors such as听price, 辞谤听are they more concerned with taste, texture 补苍诲听ingredient quality?
Step 3:听Find qualities that overlap in听both the听above lists. Use them in听your brand name. For example, if听your customers value freshly baked cookies that are easy on听the听wallet, you could use a听name like FreshBakes.

4.听Ask your target customers

In听1998, Coco Pops, a听popular Kellogg鈥檚 cereal brand in听UK, changed its name to听聯Choco Krispies聰. The impact of听the听name change was immediate 补苍诲听disastrous: sales declined within weeks 补苍诲听market share dipped to听an听all-time low.

In听an听attempt to听haul sales back up, Kellogg鈥檚 ran a听telephone poll where it听asked children to听choose from a听handful of听names, including the听original one. Nearly 90% of听respondents chose the听original name.

With this data, Kellogg鈥檚 pulled the听trigger 补苍诲听switched the听name back to听聯Coco Pops聰 in听1999. Sales shot up听by听20% 补苍诲听the听cereal continues to听be听sold under the听original name today.

This is听an听example that shows how important it听is听to听keep your customers鈥� choices into account. While you might have strong feelings 辞谤听passions about your store name, your customers might not always feel the听same way.

Fortunately, it鈥檚 easier than ever to听run an听opinion poll asking customers what they want. Here鈥檚 a听three step process to听do听this:

Use to听create a听simple customer survey. Alternatively, use听辞谤听 to听poll visitors dropping on听your site.
Send this survey to听all friends, family 补苍诲听acquaintances on听your social networks. Some networks, like Facebook 补苍诲听LinkedIn, also allow you to听poll your friends/followers directly on听the听site itself.
For opinion from your target market, run a听Facebook ad听campaign directing users to听the听customer survey. Make sure that you use Facebook targeting features to听show the听ad听only to听your intended demographics.

5.听Make sure that the听name is听available

Lastly, before you select a听name, make sure that the听equivalent domain is听available in听a听popular extension.

Unless you鈥檙e specifically targeting a听local country market outside the听US, your extension choice should have this priority:

.com
.co/.net
.org
.io (only f辞谤听tech focused brands)
Country TLD (such as听.de, .co.uk, .pl, .ru, etc.)
.me, .info, .tv
gTLDs such as听.tech, .space, .fashion, etc.

In听99听out of听100听cases, you won鈥檛 go听wrong with .com, so听try to听get the听name in听this extension first.

Besides domain name, you also need to听check f辞谤听availability of听social media usernames. Use a听tool such as听 to听search multiple networks at听the听same time f辞谤听the听right name.

Also: How to听Create an听Online Store Without a听Website

滨苍听颁辞苍肠濒耻蝉颈辞苍

Branding theory is听a听vast 补苍诲听complicated, but f辞谤听coming up听with business names ideas, all you need to听do听is听understand your product鈥檚 intrinsic 补苍诲听extrinsic qualities, 补苍诲听what your target customers value. This will help you choose a听short, pronounceable, memorable name that will let you stand out from the听competition.

Key Takeaways

Every product has intrinsic 补苍诲听extrinsic quality cues.
Your target audience can be听divided into low 补苍诲听high-knowledge customers.
Low-knowledge customers focus on听extrinsic quality cues, high-knowledge on听intrinsic cues.
Short, simple names work in听nearly every situation.
Use descriptive adjectives in听your brand name.
Pick a听business name that is听available in听a听popular extension.

听

About The Author

Lina is a content creator at 51视频. She writes to inspire and educate readers on all things commerce. She loves to travel and runs marathons.

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