Naming Testing for an Escrow Agency

The client approached Marketing Consulting Group to choose the best name option for a new agency.

The research objective — testing various name options for a new escrow agency among target audience representatives.

The main tasks for the researchers were — to find out what associations the presented name options evoke in respondents, and also to determine the most suitable name for an escrow agency.

The agency conducted research using an online survey method among two main target audience groups

• freelancers
• online buyers/sellers

In the developed questionnaire, respondents were asked to describe their associations with each of the proposed names. Then, the essence of the escrow service was explained to the respondents, and from this perspective, they were asked to choose the name option that, in the survey participant's opinion, was the most suitable for this service.

Results

• Potential audience associations with various names were studied
• The name recognized as the best by most respondents was identified
• A name option suggested by the respondents themselves was obtained

Upon completion of the research, the client received information about the most noteworthy name among the target audience.