When deciding on names for ranks on a Minecraft server it's a good idea to have a think before you rush to a decision. Once configured, changing rank names can be both a lot of work, and irritate your player base.
Factors to consider:
New players are something server owners often overlook. One of the first things a new player will see in chat is other players talking, and so their prefixes/rank names. If these aren't immediately recognised as 'donator' ranks, then you can have issues with players assuming they get the same perks, and get very annoyed when they find out they don't; or new players may simply be unaware that you even have donator ranks, resulting in fewer donations.
Hierarchy is often overlooked when deciding on rank names. Perks unlocked are a big factor, but not the only one. Often players will donate simply for the 'prestige' of it, to be recognised as someone that's supported the server or more 'important'. This can be done by associating your higher ranks as being more important/rare, e.g. the lowest donator rank would be dirt and the highest diamond - items recognised by players on sight.
Length is also important to consider. If your rank names are all very long, when talking in chat even short sentences can be pushed across several lines. This can get very annoying for players, causing them to associate your donator ranks with inconvenience. This is easily avoided by keeping your rank names short, so around 8 or 9 characters tops.
Colour can be used to differentiate donator ranks, but isn't always necessary. By using different colours for each donator rank, you limit the options available for other unrelated ranks like staff. Often just having a different prefix is enough, or perhaps use different shades of the same colour.
Based on these factors, here are our recommended names for donator ranks:
Simo389 has been running Minecraft servers since 2012, and developing for them since 2013. Currently he runs MineRifts, a YouTube channel and shares advice in these tips on how to publicise & improve your own Minecraft server.