During the dot com era people were paying thousands of dollars for a good domain name. Occasionally a business would have its domain name “held for ransom” by someone who registered it before the actual business realized what happened.
Rhonda Abrams at USA Today Small Business posted a column the other day about the value of a name to a business. A good name can make a difference in creating an impression on the customer but the name is not the brand.
A brand is the image a business has in the mind of its customer. This image starts with how your business represents itself to the public. To that end, a name is important. Beyond that initial impression, the brand is a sum of the customers’ experiences with it. Every point of customer contact is critical.
A good name cannot make up for a poor product or inconsistent customer experiences.