When next you have to give something a name, be careful it can bring you unexpected consequences like big unexpected payoffs. I am a student of positive psychology and hence will always like to describe a glass with 50% of water as half full instead of half empty, there is a virtue in goodness.
During the last general election in Nigeria in 2019, no one expects anything funny to happen. Apart from the dominant political parties of APC and PDP grabbing the first and second spots, other well-known popular parties plan to take the 3rd spot (if you know the other parties whose candidates are Moghalu and Sowore you will understand what I mean). But that never was the case, something dramatic happened. An unknown party called PCP took the third spot. Voters mistakenly thought that PCP was PDP, what a lucky vote arising from the well-thought-out name PCP. The party flag bearer Mr. Felix Nicolas even thanked those that voted him (I am sure he does not know them as much as they do not know themselves).
Businesses also benefit from such serendipity; let us run through some examples for easy analysis.
Investors got confused on October 4th 2013 about which company wants to go public a day after Twitter filed to go public, the shares of Tweeter home entertainment (ticker: TWTRQ) was bid up to and gained as much as 1500% before booking a gain of more than 684%.
In March 2017, Snap Interactive (Ticker: STVI) went up 164% high after the social media company SNAP INC. filed to go public. However Snap interactive quietly changed names no one knows if it is unconnected with the quiet settlement with SNAP over trademark infringement
And then recently investors likely wanting to get in on Zoom Video Communications’ initial public offering sent shares of Zoom Technologies up by nearly 100% a day after the announcement. Zoom Video Communications, a videoconferencing company, priced its initial public offering at $36 a share on Wednesday, March 20th, 2019, evening and was set to go public at a valuation of more than $9 billion.
In related-name but unrelated-business development, Zoom Technologies (Ticker: ZOOM), on the other hand, researches, develops, and sells electronic-communication products for mobile phones. It has a market cap of $13.5 million. Notably, shares of Zoom Technologies rallied from nearly zero to a high of $5.76 after Zoom Video Communications in March filed its paperwork to go public. Zoom Video Communications (Ticker: ZM), a rare unicorn that makes money, Zoom Technologies trades under the ticker ZOOM.
Have you ever considered licensing a brand name that has not yet done its registration? Some businesses don’t know that getting a license for their brand is a significant first step to increasing brand equity? Smart companies take such an advantage too. What about getting a domain (dot com) that is still open?
Now you know we can be luckier when we plan to be blessed. We can plan for serendipity and luck to happen. I do not suggest that you look for loopholes to make a profit out of others’ efforts. It is great to get better at using a name that could spell natural luck for you. I am not advising you also to get a name too close to a well-known brand and, in the process, warrant a legal dispute. Get a name that can potentially harm and disrupt the future for your economic benefit. See examples of beneficiaries like Zoom technologies. Now you know there is so much in a well-thought-out name.