Sometimes, albeit rarely, you'll see Compressor toss up an error sheet with something about "Empty Batch Name" when you hit Submit but little further help.
It has to do with how you drag items into the target window.
Make sure you drag the media in there first, then drag in settings. You may see the error if you have multiple media files and drag them all in at once then highlight them all and drag a settings to them en masse. If so, just try again. Compressor's funky like that.