And it's something you mustn't ignore.
Why? Because choosing a name for your business or product, even your domain name, is often the single, most important business decision you'll ever make.
To that end, let me share with you some naming tips. In my experience, I have five characteristics of great brand names, which I call the five “S's.” I encourage you to follow when trying to come up with a solid, long-lasting, and highly profitable name.
For starters, let me point out that the best names are relatively short, easy to pronounce, and easy to remember. They have considerable mnemonic value.
And mnemonic value often translates into financial value.
A mnemonic is a device — such as a word, symbol, or sound — intended to assist in recall. If a name carries some mnemonic value, it will increase traffic, sales, and value to your business on its own. The more mnemonic a name is, the more valuable it is.
There are various reasons for this.
First, the web overloads us with information. It keeps growing every day. As a result, people no longer have the time to search the Internet let alone pages upon pages of search engine results in order to find exactly what they want.
Sure, search engines will always have a place. But more and more people would love to skip irrelevant search engine results. Many will in fact attempt to reach websites directly by guessing and typing plausible domains into their browsers.
(How often have you done this? I do all the time.)
Either that or, when do they use the search engines, they will search for specific names, especially those they remember, or names that are intuitive and can be easily deduced.
And they do so before they try to search for something generic or general, which might force them to wade through pages of search engine results to no avail.
Think about it. How easier would it be if they knew of a name beforehand and typed it into a search engine? How much more relevant would search engine results be?
You guessed it, more. A heckuvalot more.
Take search engine trends, or even trending topics that appear on the front page of social networking sites. When a current news item, hot issue, major event, or popular controversy crops up, the Internet gets inundated with people looking those terms up.
Search trends often include brands and brand names, too.
Your objective, therefore, is to choose not only a good name but also one that burns itself into the mind of the marketplace — the hearts and brains of the people in your market. That's the power of being “hooked on mnemonics.” 😉
Nevertheless, while the availability of good brand names is shrinking, here are five basic guidelines to follow. Try to follow these as much as you can. I call them the “5 S's of Naming” (and yes, using the letter “S” is a mnemonic), which are:
First, choose a suggestive name, one that communicates the main benefit if not at least the nature of the product, business, or website. Benefit-based names have a multitude of advantages beyond ease-of-recall, including credibility.
Studies show suggestive names that instantly communicate what the product or business is all about, what's their purpose or benefit, in one fell swoop, can rapidly increase desirability, believability, sales, and of course, brand equity.
Look at some of the strongest brand names out there. You will notice that most of them tend to have a name in which the main purpose or benefit is suggested.
For example, “Jiffy Lube” means a fast oil change. “Band-Aid” means a bandage that comes to your aid. “Duracell” means a battery cell that's durable and longlasting.
Benefit-based suggestiveness applies particularly well to domain names. Why? Because if a brand name is already taken, you can resort to its core benefit or purpose instead.
For example, if you sought a financial planner and were given a bunch of URLs, would you choose nafep.com (which is an actual name, by the way)? Or InvestRight.com?
Second, make it easy to pronounce and hard to misspell. If you must spell it, then scrap it. The moment you're forced to spell your business, product, or domain name when asking people to look you up, you've lost them already.
Think of the people trying to find you — whether they use a search engine or not. Make it easy for them and avoid anything that impedes the proper spelling of the name.
For instance, avoid numbers, hard-to-pronounce words, or acronyms. Unless you are IBM, AOL, CNN, BMW, or some other, already well-known brand, avoid acronyms or initials at all costs — they are probably the worst of the bunch.
In short, make the name intuitive. I'm not just talking about unique names, either. Avoid generic words that are easily or commonly misspelled, which may impede traffic.
For example, if you have a wedding planner site, would you call your business “Marriages Made Easy”? Or “Weddings Well Done”? The two are good, but the latter is best as “marriage” can often be misspelled with one “R” instead of two.
(If you already have one and it's too late, hopefully it's not too late to register the misspelled domain to capture additional traffic — lest they go nowhere, to a competitor, and much less to a site that might be less favorable, like some adult site. Eek!)
On the other hand, if an acronym makes a name easy to pronounce, easy to remember, and shorter, then sure. Go for it! In fact, this brings me to the third guideline…
The shorter it is, the better it will be. For example, which one would you remember the most and have the least amount of trouble (or potential for error) in typing into your browser: YetAnotherHierarchicallyOrganizedOracle.com? Or Yahoo.com?
Long names can be counterproductive as it diminishes its mnemonic value. “Federal Express” is now FedEx. “FedEx” means a courier that express-ships your packages, federally. But since they now ship around the world, FedEx makes better sense.
Or take a look at “Kentucky Fried Chicken,” which is now KFC. I don't know why exactly they changed the name, but I surmise that it's because of the word “fried,” which tends to communicate unhealthiness in a now health-conscious society.
But be careful, if you're brand-new and decide to use an acronym, make sure to avoid confusion. It's best to choose an acronym that's memorable or easily pronounceable.
Take the aforementioned Yahoo!, for instance. Or strong-sounding consonant or a plosive.”
One thing to be careful of is to choose a name that's not too specific, limited, or constrained. Otherwise, it can literally paint your product or business into a corner.
Remember the names I mentioned earlier that were later changed to their abbreviated versions in order to shorten them? Rebranding is often a very costly exercise, and you want to avoid that as much as possible. So choose wisely from the outset.
But sometimes, it's unavoidable. Some names, while they may be relevant today, could become irrelevant, incompatible, or impractical in the future.
In other words, don't choose a name that's time-sensitive, situational, inflexible, or linked to something else — such as a current event, another brand, or some fad or trend.
If things change (and they will), will the name still apply? Will it still be relevant? Can it lose its commercial value? Will you be forced to change if you decided to expand?
A scalable name is a name that's evergreen, extensible, easily modifiable (without any costly overhaul to the brand or depreciation in brand equity), and compatible with future changes, trends, additions, partners, extensions, or markets.
That's why it's important that, while the name may be suggestive, don't make it too generic. Some unique names may not be as suggestive, but they can certainly become some of the most memorable — and profitable — brands.
A few good online examples are Google, Twitter, Hulu, etc. Or in some cases, and for the lack of a better word, some names can be “uniquified,” either by:
- A combination of suggestive words, such as — hyphens added for illustration — Word-Press, Face-Book, Click-Bank, Photo-Shop, Micro-Soft(ware), etc;
- A generic, suggestive name made unique in some way, like Kleenex (cleanliness), Windex (washes windows), Sensodyne (toothpaste for sensitive teeth), Natrel (naturally filtered milk), iPhone (smart phone), Aquafina (fine bottled water), etc;
- Or a completely different name that may not be related but is indirectly associated with its core benefit, idea, or purpose — such as Ivory (white soap that's luxurious), Godiva (specialty chocolates that are “sinful” to eat), Raid (insecticide that's as efficient as a military raid), JuicyFruit (fruit-flavored gum), etc.
Bottom line, make sure you stay away from names that are unattractive, confusing, easy to misspell, obscure, too long, inflexible, and can be easily forgotten or ignored.
Bad names not only can impede your business' growth, but it can also kill your credibility, cost you in lost sales, and become counterproductive and, oftentimes, even prohibitive.
In essence, make it easy for people to find you and do business with you.
Like a brand that burns an owner's indicia on its livestock, choose an easily recognizable brand that burns itself into the brains of your market. For the more you do, and the more memorable you are, then the more profitable you will become.