Have You Earned Mindshare?
Mindshare Infringement vs. Trademark Infringement
Let’s leave it to the lawyers to talk about trademark infringement; I’m talking about mindshare infringement. In fact, it’s my term when you mention a phrase or brand name and it makes you think of another brand.
Examples of Ownable Words and Phrases:
Examples abound of terms that others “own” in your mind:
Priceless refers to MasterCard
Good to great conjures up Jim Collins
Curiously belongs to Altoids
Progressive means insurance
The tipping point promotes Malcom Gladwell
The Good News about Mindshare
If you’ve created a phrase that others repeat, its builds your brand. I love it, for example, when entrepreneurs talk about their 7-Second Hook because I created it over 10 years ago! Every mention boosts my reputation and spreads the word.
The Bad News about Mindshare
Of course, however, if you’re trying to create a new brand name and it looks as if the domain and trademark are available, you might be in for a surprise to discover that most folks associate a term with another product. Unfortunately today, Maxi belongs to the feminine products industry. You could name a business JiffyJuice, for example, but it still makes me think of both Jiffy Peanut Butter and Jamba Juice! Ultimately, then, this is a poor choice for your new brand.
What Terms Do You Own?
To solidly build your brand, you must create processes, terms, and brands that belong only to you! What have you created? What are your questions? Share in the comments below.