BrandBucket to launch BrandNewName.com - Crowd-sourcing platform

[Abdullah Abdullah]

Received an email before few minutes and it stated the following.
"
We're very excited to announce the upcoming launch of our new partner Brand New Name.

Brought to you by the people behind BrandBucket, Brand New Name is a crowdsourcing platform focused entirely on the initial branding needs of a new bootstrapped business: a startup name, tagline and logo.

By engaging a global creative community, Brand New Name can help the bootstrapped startups of today become the brands of tomorrow.



How Does It Work?

1. Entrepreneurs ignite a contest outlining their logo design and/or name/tagline needs in a detailed brief.
2. The community of creative logo designers and naming gurus suggest concepts in hopes to wow them.
3. Entrepreneurs pick a winning concept and an award is paid to the winning creative.

An Exclusive Invitation
Brand New Name is launching soon, and they're looking for creative logo designers and naming gurus. Since they are promoting quality over quantity, all new applicants must pass a design test and portfolio review. However, active logo designers on BrandBucket can bypass those requirements and go straight to designing!

A creative within the Brand New Name platform can either be a logo designer, naming guru or both. As a logo designer you'll be able to join and participate in logo design contests with a cash prize of $150 per contest. That's a good chunk of change! "


Not sure if everyone got the invitation part as I am a designer there. This service is very similar to SquadHelp I think though it is not clear if creatives can list any names. I just signed up and I dont see any option at the control panel to do this. So I think, this service is basically intended to counter Squad Help and provide another alternative. I have plans to start something like this and even got a name, but BrandBucket beat me to it at the moment.

 

[equity78]

Can I submit registered names?
Modified on: Sat, Jan 11, 2020 at 7:48 AM

The domain must be available for registration or available on our partener marketplace BrandBucket



When searching for brand names, be sure to run a search on a hosting site to see if the most basic version of the domain – YourIdea.com – is available. There are some workarounds, like using an alternative domain like .co or .io, adding another word to a brand name, or hyphenating things, but ideally, a business owner should be able to claim the .com version of whatever name you come up with.

And don’t forget about social. In a perfect world, the name you come up with should be available on all social channels. If it’s not, think of an alternative and ensure it’s available everywhere – even if you have to add another word, the key is consistency so people can always find a brand.

https://help.brandnewname.com/support/solutions/articles/44001023495-can-i-submit-registered-names-


I would say if this is going to be a requirement,

And don’t forget about social. In a perfect world, the name you come up with should be available on all social channels. If it’s not, think of an alternative and ensure it’s available everywhere – even if you have to add another word, the key is consistency so people can always find a brand.

This is going to be contests with just made up one words of 6 letters or more, most 5L random names in .com are taken in Twitter, Instagram etc...

I would be telling the company to get creative with the social media handling. Like for Beeph taken in everything, so BeephCom, BeephTweets BeephInc etc... Because no one is finding 5L or a lot of two word combos available in all social networks.

 

[equity78]

I am not feeling it at all when i go to the site, we need to move forward with innovation for domainers, the concept actually takes me back in time when there was a website, can't remember the name, but people would list a niche and domainers would submit names, the name chosen by the customer netted a prize for the name submitter.

I get your point but I don't think this site was created for domainers. I think Margot sees all the money Squadhelp makes with contests and wants some of that and the opportunity to sell these new entrepreneurs BrandBucket names.

Domainers are a pawn on this chessboard, they are not the king or queen.

 

[Abdullah Abdullah]

I get your point but I don't think this site was created for domainers. I think Margot sees all the money Squadhelp makes with contests and wants some of that and the opportunity to sell these new entrepreneurs BrandBucket names.

Domainers are a pawn on this chessboard, they are not the king or queen.

Exactly what I said and thought when I saw the email.

 

[karmaco]

Why people are willing to work their butt off coming up with an unregistered name that satisfies a cheap but picky client for $100 is beyond me. Branding companies charge huge bucks for this kind of “guidance”

As far as I am concerned, the whole idea cheapens this industry at whatever site it is implemented at and makes outsiders think all domains should be dirt cheap. Like a domain walmart.

To stand out from SH, the minimum price for the ideas of many should have been raised to a less embarrassing $250 to $500.

BB would have done better by improving their super long review times, hiring more staff, selling more domains etc. This will end up with issues just like SH has issues with their contests.

 

[Abdullah Abdullah]

Why people are willing to work their butt off coming up with an unregistered name that satisfies a cheap but picky client for $100 is beyond me. Branding companies charge huge bucks for this kind of “guidance”

As far as I am concerned, the whole idea cheapens this industry at whatever site it is implemented at and makes outsiders think all domains should be dirt cheap. Like a domain walmart.

To stand out from SH, the minimum price for the ideas of many should have been raised to a less embarrassing $250 to $500.

BB would have done better by improving their super long review times, hiring more staff, selling more domains etc. This will end up with issues just like SH has issues with their contests.

I have lost many names on SH which where unregistered. I know I will not be suggesting any unregistered names to any place anymore. People just take the name and hide behind privacy and that is it.

 

[Arfy]

I don't understand, people can suggest unregistered domains but can only suggest registered names that are on BrandBucket? What stops the contest holder from getting lots of suggestions and then registering the best names under a different contact without ever paying up?

 

[Abdullah Abdullah]

I don't understand, people can suggest unregistered domains but can only suggest registered names that are on BrandBucket? What stops the contest holder from getting lots of suggestions and then registering the best names under a different contact without ever paying up?

same as SH

 

[equity78]

I don't understand, people can suggest unregistered domains but can only suggest registered names that are on BrandBucket? What stops the contest holder from getting lots of suggestions and then registering the best names under a different contact without ever paying up?

Exactly you know what these sites should do, if an unregistered name that one of our participants gets registered and it's under privacy, you are paying something. #WeDonTBelieveInCoincidence

Now I believe they are saying there will always be a winner so the contest holder will definitely pay the $100 to someone.

There is no guarantee that you will earn any cash prize. Only the winner of each contest is awarded the prize. But we guarantee that each contest will have a winning entry and a chance for each creative to win.

Looks like payout is Payoneer only

 

[equity78]

Why people are willing to work their butt off coming up with an unregistered name that satisfies a cheap but picky client for $100 is beyond me. Branding companies charge huge bucks for this kind of “guidance”

As far as I am concerned, the whole idea cheapens this industry at whatever site it is implemented at and makes outsiders think all domains should be dirt cheap. Like a domain walmart.

To stand out from SH, the minimum price for the ideas of many should have been raised to a less embarrassing $250 to $500.

BB would have done better by improving their super long review times, hiring more staff, selling more domains etc. This will end up with issues just like SH has issues with their contests.

Exactly it's what the Internet has become, Branding companies get paid huge money, now look I get it these are startups maybe 1 person shops, they can't go to a big branding company. But this whole let's get a bunch of people to go on this incredible scavenger hunt, finding names and social handles for $100 competing with others like it is the amazing race is a bit of a joke now.

 

[Arfy]

Exactly you know what these sites should do, if an unregistered name that one of our participants gets registered and it's under privacy, you are paying something. #WeDonTBelieveInCoincidence

Now I believe they are saying there will always be a winner so the contest holder will definitely pay the $100 to someone.

There is no guarantee that you will earn any cash prize. Only the winner of each contest is awarded the prize. But we guarantee that each contest will have a winning entry and a chance for each creative to win.

Looks like payout is Payoneer only

OK so the fact that there is always a winner is comforting to know but $100 to get great suggestions for 100 domains which I may go and register as well as getting a winning suggestion is just too cheap.

Here is a suggestion - the cost of the contest is $700. People suggest domains and someone from brandnewname shortlists a maximum of 20 names. The shortlisted names are sent to the contest holder. For being shortlisted, the 20 get paid $25 each for making it through to the next stage. The winner then gets an extra $100. BrandNewName are actually doing something valuable for once and they get the remaining $100 for their part. Still not a great formula though but better than theirs IMO.

 

[Mister Funsky]

I like the name...it gets to the root of what their direction is for the new project. Plus, my second highest retail sale last year was for a three word domain.

Just to be clear, I do not use their current service because it is full of names that probably should not be there. A more exclusive site is the way to go and I have suggested this to others in the industry with a 'thanks for your idea, and we will consider it' attitude.

When it gets started, I will be submitting a few names to give it a try.

ADD: After having read the whole thread, the limitations they are imposing re payout and name already being on the bucket site would prevent me from participating.

 

[hookbox]

And what makes you expert in the field? Selling/buying domain names doesn't automatically make you branding expert.

The name has a big weakness. Grammatically, Brand-New is one word and that already creates an issue for using it as an adjective, just like Top-notch. They have chosen to right it as "Brand New Name", which is unconventional and not clear what exactly is their brand. If you look at top companies, if they go for word+word, they choose to create a new "word" by merging them, just like Facebook, Instagram, Youtube, Linkedin, Wordpress etc. And that is how you get to own the newly minted word, you don't want those words to be perceived separately.

Sorry but no one ever in their lifetime would think merging 3 words makes sense and the only reason you know there is a hyphen is because you looked it up. Everybody and their mother at first thought would never think there is a hyphen between brand and new.

 

[hookbox]

They are trying to get some of the pie and they see an opportunity. It all depends on how they market and what other features they announce. Premium names will be there and they might source them from their own inventory. This 125 is just for names that can be hand registered. What I find interesting is the NDA they say it includes.

it doesn't say you are starting a domain contest it says it's a naming contest. Domains have nothing to do with it. I don't know this for a fact but I believe many names that will be submitted are names that are listed at BrandBucket. Very easy to give the customer a few hundred names for whatever particular niche from the many categories at BrandBucket. If someone has a health company then they go to the health category at BB and an algorithm automatically chooses 200 perfect names for the customer. They list the names without the domain and say we also have the matching dotcom. This is when they make the real money. I have no clue about how they are approaching it but if this is not the business model then it absolutely should be. It's an autopilot type business. They could say they have 1,000 naming experts when in reality it's just an algorithm spitting out hundreds of names automatically.

 

[frank-germany]

...with a cash prize of $150 per contest. That's a good chunk of change!

true
maybe they should lower it

 

[kandyan]

true
maybe they should lower it

 

[kandyan]

They already have naming contest in BB, May be separating it to beat SH.. imo.

 

[Bob Hawkes]

The first thing that I thought of when I saw the name is that it is exactly the name of a new book about branding and naming that was published by Jeremy Miller in 2019. If he is not involved with BB (not that I know of but have not asked) it seems, perhaps, surprising and confusing to use identical names.

Seems surprising, and not, that it adopts so much of SH model. As other posters have noted, even though the model has considerable strengths and has been successful, also potential risks to the effort of those suggesting domain names.

More options are always good in the name business, so I welcome this, but agree those who take part need to be wary that their interests are sufficiently protected.

Those going to NamesCon should talk with the people at BB Booth and post any additional information to this thread.

Bob

 

[Abdullah Abdullah]

They already have naming contest in BB, May be separating it to beat SH.. imo.

You mean the name my company thing? That is not contest model and even the poster doesnt pay any money and only registered names on the platform are suggested, atleast this is how it was already. So it is different. This new model is basically based on SH since a lot of its features and styles are adapted by it.

 

[Abdullah Abdullah]

it doesn't say you are starting a domain contest it says it's a naming contest. Domains have nothing to do with it. I don't know this for a fact but I believe many names that will be submitted are names that are listed at BrandBucket. Very easy to give the customer a few hundred names for whatever particular niche from the many categories at BrandBucket. If someone has a health company then they go to the health category at BB and an algorithm automatically chooses 200 perfect names for the customer. They list the names without the domain and say we also have the matching dotcom. This is when they make the real money. I have no clue about how they are approaching it but if this is not the business model then it absolutely should be. It's an autopilot type business. They could say they have 1,000 naming experts when in reality it's just an algorithm spitting out hundreds of names automatically.

It is basically SH as I said so the naming is based most of the time providing a matching extension, mainly .COM. There is a link for premium domains for sale, and I expect the process to be the same as SH where you can suggest a premium name that will costs more than the $150 a CH will pay.

 

[kandyan]

You mean the name my company thing? That is not contest model and even the poster doesnt pay any money and only registered names on the platform are suggested, atleast this is how it was already. So it is different. This new model is basically based on SH since a lot of its features and styles are adapted by it.

May be I wasn't clear enough.. This was exactly what I was alluding to.

 

[jideofor]

With the kind of nonsense that goes on in BB, I wouldnt want to have anything to do with them.

 

[Ostrados]

SquadHelp has been around doing this a pretty long time. They have 48 open naming contests as of right now. The first contest ends in a few hours and the last one in a week. If they only made $25 per contest then that's only $1,200 over the course of one week. How in the world can that be profitable after expenses?

They dont rely on that only, they also have premium domains market with high commission (30% to 35%).

I think they have now 50k premium domains, so if they sell just 2% per year (should be more) at an average price of $1800 and 32% commission, then that translates to around $600,000 per year ($50,000 per month) which is not bad.

For me I think the value of these contests for SH is not the prize money itself, but in making the website a popular venue for entrepreneurs to find brand names, and ultimately increase premium domains sale.. I think BB are thinking in same direction.

 

[hookbox]

SH d


They dont rely on that only, they also have premium domains market with high commission (30% to 35%).

I think they have now 50k premium domains, so if they sell just 2% per year (should be more) at an average price of $1800 and 32% commission, then that translates to around $600,000 per year ($50,000 per month) which is not bad.

For me I think the value of these contests for SH is not the prize money itself, but in making the website a popular venue for entrepreneurs to find brand names, and ultimately increase premium domains sale.. I think BB are thinking in same direction.

Agree 100%. I just mentioned it because SquadHelp only up until recently relied on only naming and didn't offer domain sales.

 

[Abdullah Abdullah]

SH d


They dont rely on that only, they also have premium domains market with high commission (30% to 35%).

I think they have now 50k premium domains, so if they sell just 2% per year (should be more) at an average price of $1800 and 32% commission, then that translates to around $600,000 per year ($50,000 per month) which is not bad.

For me I think the value of these contests for SH is not the prize money itself, but in making the website a popular venue for entrepreneurs to find brand names, and ultimately increase premium domains sale.. I think BB are thinking in same direction.

Agree 100%. I just mentioned it because SquadHelp only up until recently relied on only naming and didn't offer domain sales.

But most of SH's customers buy domains that are unregistered, and those who buy premium names buy with long installments. So there are no big spending customers there.

 

[Ostrados]

those who buy premium names buy with long installments. So there are no big spending customers there.

Where did you get that info from? if that was your own experience then you can't generalize.