Establishing a new business can be challenging, especially if you are doing it for the first time! You must choose the business name as early as possible because, without it, you will not be able to apply to register your business, comply with the legal formalities of licensing and permits, and commence marketing. While there are many ways of finding a suitable name for your startup, holding a naming contest can be particularly productive.

Why a Naming Contest

A contest is a good way of finding a compelling name for your business. Instead of thinking of a suitable name all by yourself, conducting a naming contest enables you to tap hundreds, even thousands of creative minds. Of course, you can make the naming contest more productive by ensuring you craft and communicate a crisp and accurate creative brief, including details of what the business does, its mission and vision, how it fulfills a market gap, and the target audience.

Vital Things to Do for Best Results

Keep the contest simple: When you keep the naming contest simple, you make it easier for people to participate and improve the chances of getting high-quality results. Make it easy for the contestants to understand what the contest is all about and participate by following a few simple steps when crowdsourcing company names. Give clear instructions, rules, and guidelines so that participants do not get confused and perform sub-optimally. A lack of clarity may also lead to disputes and frustration.

Make the prize attractive: Most people participate in contests if they are easy to enter, they have a chance to win, and the prize is more than worth it. Remember, a powerful business name is your biggest asset, so you must ensure you attract top-quality responses by offering an attractive prize. According to Businessingmag, cash prizes are particularly effective.

Promote the contest: You must promote the contest as much as possible to attract the maximum number of participations from the largest possible demographic footprint. While you can host the contest details on a specially-designed landing page on your website, you can point links on social media, email newsletters, blog posts, and even posters, decals, newspapers, and TV advertisements.

Encourage creativity: While you should have general guidelines and contents governing the contest so that the participants give you the desired responses, you must encourage creativity, so you get unique names with market potential.

Be choosy when declaring a winner: There is no need to declare a winner even if you have not got quality responses. Instead, you can work with the participants who have given you responses with the potential to refine them till you get a business name that does you proud.


Holding a contest to choose a name for your business is a great idea if you cannot think of an inspiring and compelling name. The more number of creative minds can work on the idea, the better the possibility of a good outcome. However, you must make the content simple and give an attractive prize to encourage participation.

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