As Featured in Balance by Deborah Hutton:
Katarina Nilsson is an entrepreneur, naming strategist, artist and certified Joy of Business facilitator. Through her business, Eqvarium, she has helped create names for some of the world’s most recognisable brands such as Sony Ericsson, H&M, Toyota, Electrolux and Babybjörn. A renowned expert in naming strategy, Nilsson has been a keynote speaker at universities and organisations around Europe.
We asked her for her advice on how to create a brand name that rocks!
1. What’s in a name – your top tip to create a brand or business name that sticks
Be brave! Basically, it’s innovate or die in Business. Most businesses and products suffer from a short shelf life, but a solid brand name will certainly help you survive. If you’re a small business, it’s even more crucial to stand out in every way possible, since you can never compete with the budget of a larger company. Traditionally, companies have chosen a more descriptive name, but these days people want to feel something for the brands they choose. Therefore, it’s a good idea to focus on the emotional core of your business, rather than functional aspects. Also, doing the latter will most certainly limit your business the day you want to expand and include new aspects in your brand.
2. Why is a business name a company’s most valuable asset?
Products, employees and even CEO’s will come and go. The only thing that will stick with you during the whole life-cycle if your business is your name. If you pick one at random, chances are you’ll regret it sooner than later. If you think things through and do your homework, your name can most certainly help you become iconic. Look at all the big ones that started out from scratch as well – their names are now larger than life and stuck in our DNA forever. Also, you need to live with your name day in and day out as long as you run your business, so why not get it right from the start?
To read more, click here: How to create a new business name that competes with the big brands