Frager Factor

Saturday, May 03, 2008

Flashback 2000: What's in a Name

In DN Journal Rick Schwartz gives the only reason you need to consider for attending t.r.a.f.f.i.c Orlando:

"there will be more opportunity on the net right now than ever before since any of us have been online. Thus the market for domains, to spite the economy, is still expanding. New investors are always coming in and some are coming in with deeper pockets and looking for a new area to invest in. The things we have taken for granted for a decade or more are now being realized by others. I would expect volume of domain name sales to continue to go up."

Thinking about this, I dug into the archives of some of the out of print articles about domains that are MORE valid then they ever were 8 years ago when I evangelized them to deaf corporate ears. Here's one of my favorites:

From Jerusalem Post 4/23/00

William Shakespeare raised the immortal question of "What's in a name? That which we call a rose, by any other name would smell as sweet." But as David Burd, president of The Naming Company asks, "Without the name, would it sell?"

What's in a name? Apparently lots of money.

Companies can succeed or fail based on their corporate name and whether their efforts to create a brand for their product have succeeded in capturing the market.

It all begins with the company's name, and in the digital world, competition for names and for domain names, their on-line equivalents, has reached a new fervor.

Most consumers probably don't give a second thought as to how a company determines its name or the name of its product. They may assume that a great name comes in flash of inspiration or in a stroke of genius. If only it were that easy.

Names must be appropriate to the company but demand creativity as well. They should show that the company has determined its strategic direction and understands its competitive marketplace.

The name must appeal, be distinct, be memorable and easy to pronounce.

Attaching an "i" or an "e" as a prefix to an existing noun or verb in order to name a company is thought to award instant acceptance into the cyber club.

E*Trade and iPrint are examples. New businesses intending to be recognized as Internet companies have to realize that nearly all businesses have established an on-line presence. Every company is now an Internet company. It is therefore advisable that the selected corporate name properly represent, or brand, the company or its products.

NAME selection has therefore become a vital part of the startup process. Recognition is everything, especially with regards to the Internet's global audience.

Companies use their domains as ways to describe their businesses and sometimes even develop businesses around available domain names.

The right domain name can draw traffic to a Web site, and easily remembered domains give new companies instant credibility.

Can a great company name guarantee commercial success? Probably not. A good name is just the first step in the journey towards building the company's brand. As selection of the corporate name is crucial to the company's success, it should be done carefully.

Would Shakespeare's rose still smell as sweet if it were called a stinkyblossom? It might smell sweet, but the first impression would deter customers.

And with company names, first impressions are where it all begins.

About The Author: Owen Frager is an Internet marketing expert ready to help take your company to the next level.

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