If I asked you what the companies RadioShack and Kayak have in common, apart from their pleasant rhyme, what would you say? You likely would struggle to come up with a common attribute between an electronics company and a travel website. The biggest difference has nothing to do with their products; it involves their name. One company chose a name that although appropriate at the time, has now shackled them to an obsolete concept. The other company chose a timeless name that will allow them to grow and transform when required, a name that will continue to keep them at the top of their industry.
Starting a business can be a long and tedious process. Even when business models are completed and business plans filed, there is still much more to be done. One of the most important decisions for any new company is coming up with a name. Although some may see this task as something to be thrown it at the end, its vital importance is something that cannot be understated. A catchy and unique name is a company’s best way to create brand recognition. It is that brand recognition that will take a startup into the annals of success.
The first domain name was registered in 1985. Since then, industry experts estimate that over 270 million names have now been registered globally. The rapid increase in registered domain names tells us two things: 1) Internet usage is continuing to grow all over the world, even in areas where such services were historically not available; and 2) It is more important than ever to differentiate your company from the masses. A creative and innovative domain name can do just that. Generic or bland names are getting lost in the shuffle; skipped over as consumers look for that which is exciting and fresh. Giving yourself a quality and brandable domain name is the first step in getting your company off the ground.Giving yourself a .com domain name will do even more for your company.
In today’s Internet driven world, business owners looking to maximize opportunities have to think about many things that weren’t an issue twenty, even fifteen years ago. How is social media impacting your marketing strategy and do you have a sophisticated online presence to showcase your expertise, product line or services? The Internet has indeed transformed how we do business and more importantly, how we run business. But how about something as straightforward as your name, is a business name and a domain name one in the same? If you’re unsure, here are a few points to consider that can help clear any ambiguity that surrounds one of the most important features of your business - your name.
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Brandroot focuses only on content related to business naming. Before selecting the name of your venture it is important that you have a solid grasp of what you're in for.
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