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Internet Branding: Naming A Web Based Company
When it comes to naming an online business, there are two schools of thought. The first one is based on maximizing traffic by using keyword rich names. The second strategy is based on building a unique, compelling identity that conveys your brand’s core message. The first option is short term focused, while the second approach takes a long-term perspective that builds over time.
So which one is right for you?
It depends on your goals. If you just want a site that gets eyeballs, and you play the “numbers game,” you might be well served to go with a name such as FloridaLifecoach.com or HomeWindows.com. These types of names may help by providing natural type-in traffic as well as higher Google rankings. The operative word here is may. But while this naming strategy explains what you do, it fails to inform customers how you do it. And these names are often forgettable. Despite having a great type-in domain name, Hotels.com still spends considerable advertising money to sell customers on the reasons for using their services. Priceline.com, on the other hand, provides a sense of their “position” in the market… saving you money. Travelocity.com conveys a sense of speed and responsiveness. These names play on the company’s attributes, or core strengths, vs. just their products or services.
There are other benefits to creating “brandable” online identities. For one, they don’t have to compete with thousands of other sound-a-like names. Just because you own the name FastHomeLoans.com doesn’t mean you will be the only result for that search term. But LendingTree.com (a metaphor) will take you straight to the desired result. I sometimes tell clients that literal, descriptive names are like riding a twelve-speed bicycle. They are good for getting you up and going immediately, but you will soon find yourself stuck, pedaling madly in first gear. Brandable names are like starting out in fifth or sixth gear, more difficult to pedal at first, but more powerful in the long run as you gain momentum.
Monster.com is a great example. This disruptive name creates instant engagement. Imagine if they had gone for a more literal NationwideEmployment.com. It would have been more descriptive, more fitting, and perhaps even ranked a bit higher in some search results, but it would have been entirely forgettable. The increase in search rankings would be offset by an increase in ad dollars trying to make the name stand out. Esurance.com has to run all sorts of cartoon ads for their insurance products to make them stand out from the crowd. And you have to ask yourself, is it “esurance or e-insurance or einsurance?”
And here’s where it gets interesting. Once a company becomes known for an attribute (monster = size/strength/capability) then they can do brand extensions into other products and services that share that trait. Perhaps next they would offer Monster benefits, health plans, moving services, etc. That’s not nearly as easy with literal/descriptive names. Witness the financial troubles of CompUSA vs. Best Buy. In one case you have a fairly descriptive but limiting name, and on the other you have an attribute-based name. Best Buy can continually serve up the latest and greatest electronics at competitive prices, while the consumer is left wondering just what CompUSA is selling (besides computers in the United States.)
Are you in it for the short term or long term? Do you want to build traffic or a business? Do you want visiting eyeballs or converted customers? Once you determine your strategy, then name your business accordingly. If you build a brand, you can always use best practices to optimize your site for SEO purposes. And you’ll not only be memorable, but remarkable!
About the Author
Phillip Davis is president and founder of Tungsten Branding, company naming consultants located near Asheville, NC. Phil and his team have assisted over 200 regional, national and international corporations with business and product branding strategies. To view his company naming portfolio, visit http://www.PureTungsten.com
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