What is mindshare? Mindshare summarized by mindshare marketing agency CMDS.
Mindshare = being top of mind whenever someone needs your products or services
There are various tactics used by a mindshare marketing agency in the world of advertising, marketing, promotion and branding. Doing as much as possible not positions your brand as a leader in it’s space, but captures a small piece of the buyers mind. Companies across the world have engaged in mindshare. Not only is mindshare one of the most effective strategies of branding and advertising but it has multiple benefits towards the sustainability and profitability of an enterprise.
What Is Mindshare?
Mindshare is the process of developing brand awareness among consumers and establishing the credibility of the brand in the perceptions of as huge an audience as possible. Typical mindshare marketing agency strategies focus on the target market and only try and win over prospective customers. Mindshare targets the entire consumer market to create a perception about a brand’s value, albeit positive, and establishes an omnipotent and omnipresent connection of the product or service with the brand name.
In simpler words, mindshare is a concept used by companies to drive home the point that the brand name is synonymous with a particular product or service and solution. It is aimed at enhancing consumer awareness and having an overarching exposure in the market at large which makes a brand noticeable, regardless of whether a consumer has purchased a product or service from the brand or not.
Implications Of Mindshare
There are many companies in the world whose names are all across the online and offline worlds. Everyone has apparently heard the name of the company and have a perception that the company makes quality products. A section of the consumer market may not have ever purchased any product or used any service of that particular company but they know that the brand exists and that their products are worthwhile. This is the implication of mindshare. When a brand indulges in mindshare strategies and drive consumer opinion, the end results can be unprecedentedly rewarding.
When a certain product or service is spoken about, every consumer imagines an image of the product or envisions the experience of the service. During this moment, the consumer thinks of certain brands and what type of products and services they offer. Hardly would a consumer know or think of a dozen brands at this stage. This level of dominance in the perceptions and thoughts of the consumer market is what mindshare can reward a brand with.