Would you like to know how a name is created? In a recent magazine feature (Swedish only), Eqvarium CEO Katarina Nilsson talks to Civilekonomen about the creation of the brand name Akavia – a new trade union sprung from two already established ones.In the article, Katarina offers a wide range of useful tips that both small and large companies can benefit from.
“Modern technology enables professional naming processes without the risk of infection.” Just a month ago, we wrote about how a certain virus had kidnapped the well-known beer brand Corona. Now, it has seemingly put an entire business world to a halt, as many small and large companies are struggling for their survival. There is no simple solution to this complex problem in sight, and only time can tell what sort of damage we are looking at, both regarding ourselves as individuals and our workplaces..
It is often stated that all PR is good PR. However, it is doubtful whether the chocolate maker Isis or the renowned fashion house Lacoste – Anders Behring Breivik’s favorite brand – reasoned this way. All companies dread the “kidnapping” of their brand, since sudden associations with – for example – mass murderers aren’t exactly good for business..
“If the name does not reflect your business, you may want to consider changing it”
When it comes to company names, it is in fact hard to be wise in hindsight. Scrapping an incorporated name and starting over with a new one, can be a costly affair to say the least. But if your brand name doesn’t reflect your business, or if it causes problems daily, it may still be worth the trouble of changing it.
“It is a highly strategic decision that many people might take a little too lightly”
In modern corporate strategy, a strong name is a must to support the business in the long term. In an recent article with DI Digital, Katarina Nilsson, CEO of Eqvarium, explains more about the process of finding the right name. She also mentions industries where things often seem to go a bit sideways (with hilarious examples from the auto industry) and gives an overview on the current naming trends. Here are three of her most useful tips from the article:
The Naming Trends Of 2020 – Which One Do You Favor? What are companies and products called in 2020? Eqvarium has done some serious trend spotting and identified several types of names that are common right now. Here is a brief summary:
“Composite names are hot right now, but it’s starting to flood in the talent pool.” Names ending with y or ify – We know. We’ve had enough of them already.
When Jusek and Civilekonomerna started a brand new union, they needed a name that symbolized the road ahead. That is literally what they got. Through Eqvarium’s creative process, the name Akavia – short for the academic way/road – saw the light of day. The union's...
Name of the Week: Corhaus. Is reliability your most important selling point? Why not let it show in your brand name? Corhaus symbolizes a rock-solid core and a safe haven for your clients to rely on.
Time to do some name shopping for this New Year?
Even successful businesses can have name challenges. Renowned Ångpanneföreningen (The Boiler Association) has undergone major changes that have required not only one, but several name changes. They first decided to shorten the classic Steam Boiler Association to ÅF. At the merger with Finnish Pöyry, the name was changed once again to the not so imaginative ÅF Pöyry.
“Good things take time and the name you choose must be able to support your business going forward” 2019 was a truly varied year for Eqvarium, with many exciting name assignments in all possible industries. In naming, the winner takes it all. That means that a...