Owning Words For Your Business: The Importance of Association

Author: Joe Martin, Date: 2016-02-05

“Being first in the market isn’t as important as being first in the mind.” – Ries & Trout

As a business owner, it is imperative to own words for your business – equally important is to stand behind the words you’ve given with great technology.

By choosing to take ownership of just one word, there have been various companies who have developed and solidified their global presence. Listed below are a few companies who understood the effect that a word could have to transform their brand and ensure their spot as both the first in the market, as well as the first in the mind.

• When people think of “overnight” and shipping, they think of Federal Express.
• Apple has become world renowned thanks to their “i”.
• “Safety” goes to Volvo.
• And when people think “search”? Google.

In order to achieve this sort of impact, your business must start by defining your brand and positioning it relative to your competition. To help, ask yourself questions like:

1. What do you want to be the “go-to” person for?
2. How can you differentiate yourself from others with the word that you own?
3. What are your ultimate goals and what word do you need to associate with your personal brand to reach them?
4. Is the word you’re considering an accurate description of what your customers will actually receive from you?

Something important to remember is that unless you’re leading the market, customers will only listen to information that is consistent with your rank. For example, Acer can’t possibly claim to have America’s favorite tablet – Apple already owns that title.

Most important of all is that branding is a long-term strategy. It’s crucial that once you define the word you want to own in people’s minds that you commit to it for the long run. It never hurts to listen to consumers and keep an eye on your competitors, as well.

By owning a one-word brand promise, your customers’ view of your business will be more clear.

Here at Compunet InfoTech, we take a proactive stance to help you achieve your goals. Call (604) 986-8170 or send us an email at info@compunet.ca to discover how we can help you improve your technology in order to be first in the market, and first in the mind.