Brand or Product Name Consultant: A Small Job with Big Income Potential

Ever heard of the profession of a brand or product name consultant? It might sound trivial, but in reality, it’s a highly potential field, especially in today’s digital era.

By simply providing name suggestions, one can earn anywhere between $10 to $50 per name. With creativity and an understanding of market trends, this could be a lucrative income opportunity.

But isn’t this confusing?

Perhaps some might wonder whether this service is truly necessary or just another modern business trend.

Why is there a demand for this service?

Are business owners unable to think well enough to come up with good names for their brands or products?

Honestly, the answer isn’t clear yet. However, the existence of this service certainly opens up new opportunities to explore the business world from a different perspective. If this idea resonates, it could inspire trying out a fun and creative side hustle.

What Makes This Profession Stand Out?

1. High Market Demand Each year, thousands of new businesses emerge globally, especially in places like New York City (NYC) and California. In such competitive markets, having a unique, memorable, and relevant name is crucial to grabbing consumer attention. According to data from the U.S. Small Business Administration, over 4 million new businesses were registered in the U.S. in 2022 alone.
2. Relatively Affordable for Clients For startups, hiring a big branding agency can be prohibitively expensive. As a result, they often seek alternatives like freelance consultants who can deliver quality name ideas without breaking the bank.
3. Flexible Work Setup This job can be done from anywhere. With just an internet connection, a laptop, and a creative mind, work can begin. Imagine sitting in a trendy NYC cafe or by the beach in California while helping clients find the perfect name for their business.

Fascinating Facts About Business Names

• Unique Names Hold More Value: A study from Harvard Business Review revealed that unique brand names can improve brand recall by up to 33% compared to generic names.
• Name Length Matters: Research from Squadhelp indicates that names between 5-10 characters are easier to remember and more frequently chosen by consumers.
• Domain Availability is Crucial: Names that align with available website domains are a major consideration for businesses. For instance, a name like “FreshBloom” for a plant business is not only appealing but also likely to have an accessible domain.

How to Start a Career as a Brand or Product Name Consultant

Interested in starting this income opportunity? Unsure where to begin? That’s understandable. To avoid confusion, here are some practical steps compiled from various credible sources.

Here’s how to start a brand or product name consulting service:

1. Study Market Trends and Psychology

Successful names often reflect a brand’s vision and resonate with its target audience. For example, tech businesses tend to favor futuristic names like “NebulaTech,” while food businesses often choose emotional names like “Sweet Harvest.”

Where to Learn?

Many free resources are available to study market trends, such as online articles, business forums, or videos on platforms like YouTube.

For paid options, courses on platforms like Coursera or Udemy are worth considering. Additionally, annual trend reports from research firms like Nielsen or McKinsey can offer valuable insights.

2. Use Creative Tools

There are numerous tools like Thesaurus, name generators, or even AI to help spark initial ideas. However, the human touch remains essential.

For example, use name generators like Namelix or Shopify’s Business Name Generator to create inspiring initial ideas. Then refine the results by considering the target audience, brand values, and psychological factors such as uniqueness and memorability.

Here’s how:

1. Open Namelix—Business Name Generator.

2. Start by listing keywords relevant to the client’s business, such as “money forever” for a finance-related venture.

3. Enter the keywords into the tool and click Generate.

4. Select the desired criteria, such as Brandable Names, and click Next.

5. Choose between straightforward, balanced yet creative, or completely random ideas (for varied results). Then click Next.

6. Optionally, enter a business description and click Generate.

7. Wait for the results. Analyze the suggestions and select names that meet criteria for uniqueness, simplicity, and relevance.

8. Provide alternatives and reasons for each name selection to the client.

3. Build a Portfolio

Start by helping friends or small businesses nearby. Offer free or low-cost services to provide name ideas. Document the results by including project descriptions, the name selection process, and the rationale behind each choice.

Create an attractive portfolio, whether as a simple website, PDF, or dedicated social media page to showcase the work. Ensure the portfolio reflects creativity and flexibility in creating names tailored to client needs.

With this portfolio, capabilities can be demonstrated to larger clients, increasing the likelihood of securing new projects.

4. Promote the Service

Platforms like Fiverr, Upwork, or Squadhelp are great places to offer name consulting services. Be sure to craft a clear and compelling service description.

Include the portfolio and highlight unique skills, such as understanding market trends or creating culturally relevant names. To enhance visibility, use social media platforms like LinkedIn or Instagram to promote the service. Post educational content or examples of creative names to capture a broader audience.

Consider creating a blog or small website detailing the work process, client testimonials, and achievements. This can boost professionalism and build trust with potential clients.

Income Potential

Providing 5-10 name suggestions per week can generate an average income of $30 per name, amounting to $150-$300 weekly. Over a month, this could reach $600-$1,200! Satisfied clients may also refer the service to others, leading to limitless earning potential.

This, of course, assumes success. If efforts don’t yield results, never give up. View this as a learning experience and try new approaches, such as re-evaluating strategies or studying client needs more deeply.

However, if results remain elusive after multiple attempts, it might be time to explore other opportunities more aligned with personal interests and skills. This blog offers plenty of exciting business ideas. Simple options like online surveys might also be worth exploring for something hassle-free, requiring no upfront investment or special skills. Remember, opportunities are always out there for those willing to search and try.

Conclusion

A name isn’t just a label; it’s a crucial part of a business’s identity. That’s the simple truth.

What do you think? Ready to give this a try?

Also, check out another income opportunity: Media Kit Creation Services: An Underrated Business Idea.