They say that behind every cloud there is a silver lining and I've certainly experienced that. A recent trademark infringement against Mint Marketing created both the necessity and the opportunity to rename and rebrand the business.
For some businesses this could be a costly and painful process. However it depends on a) how you look at it, and b) the size of your business and the amount of branded material you have. In my case, a) it was divine timing, and b) my branded material was only limited to my website, business cards, powerpoint presentations and invoices.
Renaming opportunities:
- Keeping things fresh
Businesses should ideally refresh their brand every 3 - 5 years to ensure that they are still relevant to their target audience and are staying current. However, granted in most cases it wouldn't normally involve a renaming of the business. My business had evolved quite a bit since launching in February 2010 and it was a good time to dig deep and find the true essence of my business and my offering in order to keep things fresh. - Create a unique factor
Mint is not a unique name, at time of writing there were no fewer than 266 businesses registered with the NZ Companies Office with the word Mint in their name. So the naming situation created a perfect opportunity to search for a unique name to represent my business. I went through some great brainstorming exercises (the processes which I will share in another blog) to come up with a name and tagline. The tagline "Marketing that resonates" was created first, followed by the name "Chime". Chime eludes to a dynamic energy, vibration, echo, balance and harmony. Chime ticks off the unique factor, and there are no other marketing companies in NZ using that name (yet). The tagline communicates the essence of what we do - ensuring that the marketing and communication of your brand resonates with your target audience in a way that will attract them to your offerings.
So this post marks the farewell to Mint and hello to Chime and a new beginning. However before moving on there are a couple of learnings I want to share.
Two business lessons:
- Do the due diligence
Start with your own research to ensure that the brand you have is unique, this includes, but is not limited to doing a google search using relevant key words, searching the companies office and searching the trademarks register. And where finances allow it, engage external assistance to help research and protect your brand, which may include using a trademark lawyer. Also consider which countries you are intending on trading in the future. - You're going to make mistakes
But don't beat yourself up - instead look for the lesson and the silver lining.
What's your silver lining example? Feel free to share in the comments section below.