There are a handful of companies that have developed such iconic names that they are instantly recognized wherever you are in the world. Names like Coca-Cola and eBay have near universal recognition so it’s no surprise that professional branding companies often make millions of dollars to come up with these “it” names.
Professional branders aren’t going anywhere, but for small businesses that can’t afford the million dollar price tag, there is a new trend called crowdsourcing that allows businesses to outsource the creative process to people like you and I through “naming contests.”
There are hundreds of naming contests on websites like NamingForce.com and SquadHelp.com. The way it works is that nameless businesses list a little information about their company and a prize amount for the person who can come up with the best name. The rewards are anywhere from $50-$500, with the average amount around $100.
For example, one company on SquadHelp lists that they are a company that buys used video games and that they will pay $80 to the person who can come up with the best name. A few of the submissions so far are “Cash 2 Gamers” and “Game Epix.” Think you can do better?
How to Enter a Naming Contest
To get started you need to first register at a naming website like Naming Force. It’s free and only takes a second. Once you’ve registered, you can get started by entering one of the literally hundreds of contests. The cool thing is that there’s no limit to how many names you can submit or how many contests you can enter, so let the creative juices start flowing.
Some of the leading namers have won thousands of dollars and are responsible for naming dozens of startup companies. At $100 a pop, it’s not a bad profit for only a few minutes of work…
If you need help getting in a creative mood there are a number of online tools that can help you get started. Random name generators like Rymer.net can create a list of names for you to bounce off. Online dictionaries and thesauruses can also be a good resource for generating ideas. Obviously, the more entries you submit the better the chance of you being declared a winner.
Good luck Penny Hoarders! Your creative use of verbiage is worth its weight in gold to small business owners. Maybe one of you will come up with the name for the next Facebook or Amazon!