2012
06.19

A Name Is An Investment

apple_rainbow_logoSomething that a lot of business people forget is that a name is an investment. The right name can increase the value of a product or a business. Some names can even sell products, for example Apple sells computers and Coke sells soda pop.

The names Coke and Apple are now worth billions of dollars because of their appeal to the customer. When people invest in Apple and Coca-Cola stock they are investing in the name as much as in the company. In some cases a name can be the most valuable thing that a company owns.

So any money you invest in thinking up names for a product or naming a store can be money well spent. A highly creative product name or a catchy name for a store could actually increase the value of a business. It could make that product or business more attractive to investors as well as customers.

To be valuable a name must be creative and original. It also has to effectively reflect what the product is without confusing or confounding the potential customer. Creating such a brand is obviously a tall order for a person who does not know how to name a production.

Fortunately there is a very cost effective means of finding an original name for a business or a product. This means can actually get the services of dozens of talented writers that have lots of experience thinking up new names for a very low price.

This means is a naming contest and it can be one of the best investments that you make. In an online naming contest you put up a sum of prize money which can be as low as $50. Once this is done writers compete by entering names. Only the winner gets paid and you don’t pay until you have a satisfactory name that meets your criteria.

This is the risk free way to rename a company and it is more effective than a business name generator. Actual human beings with thoughts, emotions, feelings, creativity, imaginations and intuitions will be thinking up your new name. You name will actually appeal to customers because a real person created it.

Names Created by Real People

Spending money on a brand name generated by a computer program makes absolutely no sense. The computer-generated name can meet legal and search engine criteria but it will not have the extra flair or emotion that will appeal to customers. After all your customers are human beings, not algorithms. Customers these days want the human touch more than ever.

You also need a name that effectively conveys your values and the value the customers will get for the dollar. In today’s economy people are more reluctant to spend money than ever before. They need every nudge they can get in order to open their wallets and pull out their credit cards.

Since a name is an investment you need to increase the value of that investment by spending money to create one that actually appeals to customers. Effective businesspeople have long known that their enterprise’s name is one of the most valuable possessions they have.

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