Picking a new, original domain name can be difficult. The better ones have already been registered and domain squatters demand outrageous amounts for the premium names.
We recently tested crowdsourcing to help pick a domain name with a company called Namestation. Crowdsourcing is a process that involves outsourcing tasks to a distributed group of people. For $35 you can set up a public contest where you describe the type of site you want to build and Namestation users will suggest different domain names based on your description. Users get points for making suggestions and you can choose from all the entries submitted.
The results were not spectactular. While we received nearly 50 entires in 5 days, we did not end up choosing any of the names suggested by the Namestation community.
The problem was that our standards were high and the quality of the crowdsourced names was poor with lots of volume, but little quality. We wanted an original, memorable, and catchy name that was not already registered, and we got alot of random keywords jammed together from users we did not know or trust. I would only recommend using companies like Namestation, Namingforce, and Squadhelp if you are totally out of your own ideas and already tapped out your personal network for help.