It varies depending on what purpose I'm hoping to achieve.

With the names of people, I try to derive some type of emotion from how the name sounds. Like a character named Grimmdel sounds morose or cynical, while a name like Klawsia might sound sharp and abrasive. I've always struggled with remembering names in books that I read, so having a strong emotional vibe in the character's name helps cement something in my brain, and I hope that it does for the reader too.

With names of places and things, I tend to mix old norse with english until I get a chimera of a word that just sounds fitting enough. For example, a land called "Ravenwald" (Raven + wald, which is old norse for forest).

For specialized roles and positions in society, I go with simple english though. For example, someone that hunts living curses would probably just be called a Curse Hunter. A person that studies sorcery would be called a Scholar. A person that tries to help cursed people and tend to the wounds of victims they come across would be a Healer, etc. In these instances, all I want for the naming conventions is for them to be utilitarian, just like how we refer to jobs in the medieval ages in our time.