“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...
Name of the Week: Dirgenta
The conductor (dirigent in Swedish) is in full control and leaves nothing to chance – a must for mastery. The same goes for running a company, wouldn’t you say? What do you read into the name Dirgenta?
If you like it, you are more than welcome to buy it!
From Movers Stockholm and Alpha Quality Moving to Trygga Händer (Safe Hands) and Orkar Inte (Can’t Find the Strength) – the Swedish removal industry has a wide range of names. Some prefer the traditional and descriptive, while others like to stand out and challenge. But sometimes – regardless of the industry – we stumble across names that leave us quite speechless…
What brand names do you like? We always ask this question at start-up meetings with new customers. The answer is usually some well-known and popular brand name associated with a revolutionary or qualitative product. Very few people find names linked to unsuccessful products and services impressive. This little experiment says a lot. It is not really the name itself, but what it represents, that is the most important thing..