Branding For Startups
I’m often hired for name development by entrepreneurs who are starting a business. However, many founders take the “do-it-yourself” approach to name development. Sometimes that works for them, but all too often they make a horrible mistake that is easily preventable.
My basis for this conclusion?
Here are a few of the names chosen by startup companies last year (data from CrunchBase.com):
I defy you to guess what the business is selling. Go ahead…try…I’ll wait. Can’t do it? I’m not surprised. You won’t get a clue from the name, and unless you already know about these companies you are taking a wild guess.
I’m not picking on these companies for their names because there are many others with similarly confusing names. For the record, Zairge (zairge.com) is a mobile property management system that simplifies and accelerates productivity for the owner, employee and guest. Xwerks (xwerks.com) offers elite nutrition for elite athletes. Synthorx (synthorx.com) is a biotechnology company using synthetic biology to synthesize solutions.
While I have no information about how the names for these companies were developed, I strongly suspect they may have fallen into the “.com conundrum.” Many startup companies I work with insist on having a one word name with one or two syllables that has a .com website available. That virtually guarantees the use of nonsensical clusters of letters that result in a name without relevance. Letting the availability of a .com domain drive your name selection is a huge branding mistake.
Consider these names of these other startup companies from CrunchBase.com:
These three have nice, short, memorable names. They are common words that are easy to pronounce, read and spell. Beep is a startup that sells a device that facilitates synchronized music in every room. Shout builds marketplaces for passionate people. Swish offers mobile payment solutions. In each of these cases, the company has chosen a relevant name that builds a brand around the benefits that their product offers. But because they chose a common word they don’t have the “exact word” .com address.
So which is better: Having a simple, easy-to-pronounce name that has meaning, or having a name that gets you a one word .com address? My 25+ years of branding experience tells me that a name that has meaning is infinitely more important than a name chosen because you can get a single word .com address.
You can ALWAYS get a .com address that makes sense. The websites for Beep, Shout and Swish are: are www.thisisbeep.com, http://useshout.com, and http://swishme.com. The companies have found a clever way to get a meaningful name AND a relevant website.
You can do the same. Add “my” or “the” to the front of your name or add “online” or “world” to the end of it. If you need other ideas give me a shout and I’ll help.
But please don’t pick a name that looks like a random selection from alphabet soup just because you can get a .com domain. You will only create confusion and that is never a good thing.