Emotive brand name can boost revenues by 257 per cent says Oxford’s UK Domain

UK Domain Highest_Revenue brand names

In 2021 a new .UK domain name will be registered every five seconds. In order to stand out from the crowd, you need to find a memorable, eye-catching name for your brand, which will reflect your company, services, products and audience.

Those are the findings in a new study published by UK Domain, a free educational resource that provides advice on starting, building and growing an online presence. The UK Domain is run by Oxford-based Nominet, the official registry for all .UK domain names. Nominet has managed and ran domain names that end in .UK for more than 20 years.

With so much competition already in the UK market, and start ups struggling to stay afloat during the pandemic, The UK Domain has studied the most well known brand names of the 21st century, from analysing revenue, rankings, and brand value, to discover what it takes to create a brand name that will succeed.

Jeff Bezos established the Amazon name because it is the largest river on Earth, and he was intending to build the world’s largest bookstore.

As for tech giant Apple, Steve Jobs said that he chose the name whilst on a fruitarian diet and thought the name sounded “fun, spirited and not intimidating”, whereas NIKE derived its name from a more fantastical source. Named after the Greek goddess of victory, NIKE represents success, achievements and victory.

But the study warns against acronyms, which it says have the least brand value.

The study also discovered that in order to successfully stand out, a business name should be either emotive or invented. In the list of the top 100 brands, those created in the past 70 years have mainly used these types of names, and often bring in the most revenue.

Invented names are one of the most popular, it seems a challenge for new businesses is to find unique names in an already saturated market due to globalisation. No matter where you live, you’re likely to come up against a company with a similar name unless you create it from scratch. The benefits of having an invented brand name is that generally you will have access to domains that have not already been registered.

Brands that have already successfully created invented names include Google, Starbucks and Nintendo. All well known internationally, the study argues that the success of their brands came from having such unique and memorable names.

Brands with seven letters are the most popular.

So the ultimate brand name should be, between 6-7 letters long, be invented or emotive, and suit the values of your brand.

Top tips to pick the perfect business name

  • Find a name that will stand out, something that is memorable, eye catching and unique. A unique name will make it more likely to be available online.
  • Find a name that will best represent your company. The best way to do this is to create a brainstorm of all the things you want your audience to think about your business.
  • After you’ve shortlisted a few names, it’s important to find out what potential customers think about them. What you may recognise to be a strong brand name, others may not.
  • The name you choose will be typed and said a lot, make sure it’s easy to say and spell.
  • While you’re considering different name options, check to see which domains are available.