Perhaps, when you think of Coca-Cola or Pepsi, the first thing that pops up into your mind is their advertising slogans: “Open Happiness” and “That’s What I Like.” These flagship marketing strategies are increasing their market more than the actual selling of their goods and services. That’s why a company’s brand identity reflects a shared perception towards your customers.
But the challenge of today’s market competition is how to protect your brand’s identity since almost every product is identical substitutes for goods and services.
According to CompuMark, a reliable source in independent research into the trademark ecosystem revealed that 75% out of 354 trademark professionals had undertaken a costly legal action against infringements – leading to customers’ confusion, reduced customers’ loyalty and trust, and damaged the reputation of the brand.
To avoid the costs of trademark infringement and to win your customers’ hearts, this article will guide you to understand how trademarks market your brand.
What is a Brand Identity?
A brand identity is a by-product of all combined visual elements such as your business name, logo, slogan, voice, tone, color palette, typography, textures, patterns, iconography, packaging, and collateral. In other words, something that delivers a visual appeal is a brand identity.
But why does brand identity matter?
Consumers commonly identify a brand that gives the best and appealing impression. They try to focus first on the recognizable and tangible material, which involves their senses to form a sound judgment before purchasing.
For instance, Apple products didn’t have the reputation to be the leading tech manufacturers, until they connected to the community, by pushing a tagline: “Think different.” On the other hand, Dove defies racial discrimination that promotes skin diversity using a slogan: “You are more beautiful than you think.”
More than gaining a profit, the essence of a brand identity is to win your customers’ hearts, loyalty, and trust. It is your strategy on how you want to perceive your customers in your business. As you genuinely provide their needs and wants, your brand identity also represents their values and personality in every touch point.
Trademarking your Brand Identity
A trademark is commonly known as “brand name,” which comprises any symbol, word, name, design, or a combination of elements that distinguishes your goods from your market competitors.
On the contrary, a service mark is a word, phrase, symbol, or design that uniquely characterizes a source of a service than the goods.
Your brand identity is your intellectual property. While it inherits intellectual property rights, it plays a critical role in fostering innovation and protection of ideas through trademark protection.
In simple terms, trademarking your business identity prevents anyone from copying or imitating your creation.
Benefits of Trademark Registration
There are hidden advantages of trademarks that unravel your deepest desires. As an entrepreneur, you always maintain the relationship of your customers towards your goods and services. That’s why you need to get a trademark registration as soon as you have established your brand identity.
Your business becomes more investable
Registering your brand as a trademark makes your business more investable. By putting the symbol “R” right above your business name, logo, or slogan, you are establishing a reputation and trust in the face of your competitors. Working with investors will be a smooth transaction now that legitimacy frames your name.
It expands your market.
Registering your brand as a trademark stretches the goal of your market expansion, allowing a bigger and broader audience. It gives you more opportunities for collaborating with national or international companies. Also, it is your ticket to capping more revenue potential for your business.
It lowers the risk of trademark infringement.
Third, registering your brand as a trademark lowers the risk of obtaining trademark infringement – a civil law violation in the unauthorized use of a trademark or service mark.
Bold Patents, a world-class trademark firm in the United States, suggests that an average cost for trademark infringement lawsuits can cost up to 120,000 to 750,000 dollars, depending on the complexity of the case.
How can trademark infringement affect the marketing of my brand?
Today, people are becoming income-generating drivers, whether in an actual marketplace or a digital setting. Hence, the number of brands is increasing as proportionate to market demands. However, more businesses often overlook getting trademark protection. In reality, some businesses are focused on attaining more profit, without considering the costs of having a trademark infringement.
One of the biggest losses of obtaining a trademark infringement is creating confusion for your customers in the sources of your actual goods and services. Here, your competitor brand may overlap, causing the likelihood of your brand identity. More likely, your sales will decrease, and your competitive edge as a unique source finally fades.
Reduced Customers’ Trust and Loyalty
What’s more critical in getting a trademark infringement is reducing your customers’ trust and loyalty to your brand, as a result of their outward confusion. Your customers are your success magnets. When they know that you infringed someone’s mark, chances are allowing them to look for another brand.
Damaged Brand’s Reputation
In the spirit of marketing, your brand reputation frames your way to your success. Among all the damages, this is the pain point that your customers cannot bargain from others. Trademark infringement will decrease your management tactics and streak in creating a positive relationship with your customers. Money can grow instantly, but when your customers take away their trust, you will have a hard time restoring your marketing strategy.
The way to your customers’ hearts is your brand identity. When you market your brand, the center of your sales are not your company, but your customers.
Brand identity is crucial since it echoes the personality, culture, and values of your business. It becomes more marketable when you register your brand as a trademark, giving it more distinctiveness and legitimacy in the marketplace.
Remember, your brand identity is your intellectual property. Hence, your trademark can market your brand through the following ways:
- Your business becomes more investable;
- It expands your market; and
- It lowers the risk of trademark infringement.
According to David Ogilvy, the Father of Advertising, “a brand is something that remains when a factory is burned.”
Your brand is meaningful that even your customers cannot bargain. Make your brand more memorable. Win your customers’ hearts!