As you dive into the process of naming your new venture, you’ll likely run across the advice that a six-letter, two-syllable name is the gold standard in business and product naming. There are two reasons that we at Squadhelp think this advice is typically more harmful than helpful to your naming process.
The Cost of Six Letters
Both Mint and Uber decided on short, recognizable, and memorable names for their startup. While these URLs are excellent assets for these leading tech companies, the tactic use to acquire these domains is simply not available to most startups. Both companies acquired their URLs through equity deals, meaning that the former owners of the URLs now have stakes in these highly profitable companies.
While this deal may seem extravagant for a simple four-letter URL, high price tags are becoming more and more common. In fact, Business Insider found that “domain names can be worth any amount, but most [premium] domain names sell for around $5,000 to $20,000. Premium domains, category killers, and short domains can easily command $100,000 or millions depending on a wide number of reasons.”
The Gold Standard In Naming is Productivity
A name is the most used aspect of any brand. This limelight allows your name to influence the perception of your business. There are many things that a name can do for you. Classic name are an elegant way to fit into a preexisting group (commonly used by law firms or consulting agencies). Clever and fun names are a great way to build immediate and positive connections with your audience. Descriptive names immediately explain something about your business. Emotional names resonated deeply and can alter that state in which your brand is perceived.
As you can see, a name has true and deep marketing, communication, and even bottom line implications, and that is why we believe that a productive name is the gold standard, rather than simply a short name. Our naming pyramid can help you determine the type of name that is right for you.
All of these names, which were chosen as winners in Squadhelp contests, break the 6-letter, 2-syllable rule, but are undoubtedly more effective than the obscure short names that companies end up with in their frantic attempt to acquire a short domain:
- Rare Beauty
- Bond Savvy
- Sage & Saddle Outpost
- Petals & Pinot
- Sound Oasis
Clever & Fun
- Insight Out
- Bulky Brain
- Whey To Go
- Ready to Rise
- Friendly Fig