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Choosing a name for your business - how to choose a good name for your business

Updated: Jul 20, 2023

Choosing a name for your business - how to choose a good name for your business


I heard a commercial the other day that grabbed by attention. Good ad copy, professional voiceover talent, etc. At the point in the advertisement that revealed the company name, I laughed and changed the channel.

Attempting to brand, market and spend advertising dollars on a stupid company name is waste of time and money. Brand recognition is built over time and that starts with a name that is recognizable in the first place.


Consider purchasing a domain name that has already been registered and is being offered for resale instead of trying to come up with your own new word to add to the English language because the (whatever) '.com' name you wanted has already been taken. Most people go to a domain registrar and type in the name they want to reserve only to find out that it has already been registered. All of the good ones have already been registered. Some of them may be available for resale by the owner of the domain even though the domain registrar tells you that the name has already been taken.

(Facebook) Meta’s new answer to Twitter, ‘Threads’ - a companion to Instagram, recently revealed the importance of having a good .COM name for your company when they inadvertently promoted a competitor who who holds the domain name Threads.com


Threads, a company completely unrelated to Instagram, has seen a massive spike in downloads. Did Mark Zuckerberg’s Twitter clone trigger a massive FAIL after settling for the .NET alternative to an already existing company? Read the article here at TechCrunch.


Unlike social media channels and Facebook pages, your own dedicated .com domain is the only platform you control.


Read the article above and put into perspective how you may have been trying to create brand awareness through social media channels on platforms owned and controlled by other entities while neglecting to focus on your own .com domain that you control. The low hanging fruit of social media marketing is good for a few but bad for most. These spaces have become very overcrowded.


I will let you in on a little secret - there are not enough real users (actual people) to generate the number of views, clicks and likes you think you see when it comes to social media traffic. Bots generally do not buy things. Some actually do. Do you notice an increase in activity and even sales right around the time you are making the decision whether or not to continue paying for advertising toward the end of your current advertising period - right before the company is about to ask you for more money to continue advertising? That’s a bot. See, you got a sale. Your advertising dollars are finally paying off and you are getting noticed so are you going to pack up and go home or give us more money to capitalize off the hype that we generated for you at the end of your current ad campaign? It would be stupid to not spend more money now, right?


The increasing number of platforms available also means that profitable traffic must be subdivided not only on one ad saturated platform, but across all of them. The math simply does not add up.


The only digital real estate domain you own is your own .com name. And ‘.com’ is still king. Not ‘.net’ or any of the other lesser extensions. Domain names ending in .com have actual value that appreciates. That is illustrated by the article above wherein even Big Tech Master of The Universe Mark Zuckerberg had to yield to Threads.com



You might also consider leasing a domain name that you may want to purchase in the future.


YesYouCanGo.com was purchased for about $3K just a few years ago and is now part of a multi-million dollar domain portfolio.

__________

This is a good example of what I am referring to although not the company mentioned in the commercial above - Collectly


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