Just how important is a company’s name to its overall success? While the answer to that question may still be up in the air, according to the July/August edition of Inc. Magazine, there is a dwindling supply of words and names to choose from. There are only so many words found in the English language to fulfill the over 80 million .com names that are currently in use. Due to the declining number of available domain names, more and more companies have had to come up with nonsensical and grammar-imperfect company names to fit their needs.
Companies such as “Flickr,” “Socializr” and even “Oooooc” are popping up all over the internet, calling into question how far this trend will go before we need a new dictionary to keep up with what’s been happening on the Web.
So what does it take for a company to get its name out there?
For starters, it takes a name that’s catchy and memorable. As Web addresses for standard English words such as “apple” are steadily being snatched up, there has been an increase of more ‘silly-sounding’ company names.Another issue is, of course, money. According to Inc., while sites such as ZX8.com was recently sold for around $330, domain names such as Mouse.com were going for upwards of $350,000.
It also seems that while there are plenty of words that go along with extensions such as .net, consumers have yet to catch onto the trend and companies don’t want to risk going over to the ‘.net dark side. As entrepreneurs are scavenging the somewhat dismal remains of available English language words, the take-away here remains the same, if the consumer can’t pronounce or more importantly even remember your company’s name you might as well exist in a galaxy far, far away…like the .net.
For some tips on how to come up with a name that inspires, here are a few links to show you how to make the right choice: