One of a very powerful components to weigh when selecting the name of an organization is how memorable it is going to be to your clients.
The founders of Beeswax saved that in thoughts.
Beeswax is a New York ad-tech startup based by three former Google advert executives. The firm pioneered a brand new approach for entrepreneurs to bid for adverts on-line. Three years after the startup’s launch, its income was estimated at $25 million.
So what does beeswax must do with promoting?
“I really liked the insect metaphors because our customers are very hardworking and industrious, and they’re toiling away doing their thing,” CEO Ari Paparo informed Business Insider. “So we were thinking about hives and ants and bees and it just evolved.”
The metaphor does not cease there. The names of Beeswax’s merchandise are on-brand references like Buzz, Drone, Stinger, Pollinator, and Waggle, the name of a dance bees use to speak. The partitions of Beeswax’s Manhattan workplace are painted with hexagonal, honeycomb-like designs.
“We’re doing something really different, we’re doing something pretty bold. We want it to be memorable,” chief product officer Shamim Samadi informed Business Insider.
For the founders, selecting a singular name for their startup was additionally a approach to distinguish them from their competitors. In New York City alone, the crowded ad-tech trade consists of corporations with names like AdRoll, AdHawk, ADstruc, adMarketplace, and xAd, and Paparo mentioned “it was the No. 1 requirement” that their name did not have “ad” in it.
“Ad tech’s been around for a while, and we’re coming into the market later than our competition. So we felt like we just had to break through,” Paparo mentioned. “If we had another name like AdPotato, everyone would be like, ah, that sounds like those other guys, ‘ad’ this, ‘ad’ that.”
“So definitely it was a conscious decision to try to do something that would leverage up our awareness and our marketing.”
Samadi put it extra bluntly.
“No one’s asked what our company name is twice,” he mentioned.