Many are curious about the actual price tag for a brand name. We can see why, as naming can seem abstract and difficult to value for the uninitiated. What we don’t see is why it should differ from any other industry where the price is set according to unique needs and wishes. The size of the project, the number of countries where the name needs to work, the linguistic language checks, the amount of support required and the depth of the creative process are some of the crucial factors.
For a small company within the Swedish borders, a smaller, slim process where we work together to build a strong brand name is often enough. The cost for such a project is usually somewhere between 20,000–100,000 SEK, depending on its complexity. Keep in mind that a slimmed down process makes it harder to come to a decision, and factors that have significance for your company may also be excluded.
A name that works in Europe – which requires extensive legal and linguistic evaluations – usually costs around 160,000 SEK.
If you’re a global business, the price is often nearly twice as high. In addition to the fact that the name must be waterproof worldwide in a wide range of classifications, larger organizations with many decision makers often need much more process support.
A big investment, you might think? Instead, ask yourself if you really can afford not to choose a solid brand name. A bad or limiting name can put a halt to your expansion or make it difficult to broaden your offer, just to name a few common pitfalls.
Here’s how it works: A strong brand name has a minimum life span between 5-10 years, but often there’s no limit. In the best of worlds, it is strong enough to last for generations to come. Throughout this time, the name needs to support your business goals and help your company expand. Therefore, write down the number of years you want your name to work and calculate your investment over time. A few thousand a year is really nothing for a name that helps your business in the long haul.
Still sounds expensive? We aim to please! In addition to our more extensive naming services, we also offer coaching, seminars and workshops that can bring your creativity to life. Get in touch and let’s talk fun stuff like names and boring stuff like price!