As we approach the end of this eventful year, I am sure we are not the only ones excited to kiss 2020 “goodbye”. We can all only hope for a more “normal” 2021. Who even knows what “normal” is anymore? Water Bear Marketing wishes you a happy new year and hopes 2021 brings you much success in your personal and business endeavors. To ensure success in the new year, we wanted to share some tips with you. We aren’t just talking about our tip not to eat yellow snow; but about how trademarks are the most valuable assets for your business.
Businesses spend countless hours and frequently thousands of dollars coming up with the perfect business name and logo. These are integral to a new business and are the first things a customer sees to connect your business and brand. These defining brand elements can be one of the most valuable assets a business owns; however, many businesses overlook protecting this intellectual property. Logos, business names, and slogans can be protected nationally by filing a trademark with the United States Patent and Trademark Office (USPTO).
Consumers’ purchasing decisions are influenced by trademarks and the reputation your brand represents. It is important for businesses to understand why trademarks are influential assets and help grow their business, and, in turn, why trademarks are the most valuable assets for your business.
Below are what we consider to be the top reasons as to why trademarks are the most valuable assets for your business and why you should start the new year off right by trademarking your brand and brand elements, if you haven’t already.
Trademarks create immediate value
There are few business assets that not only create immediate value but grow in value. The more your business expands and evolves, so does the value of your brand. Businesses use their trademarks in advertising, on product packaging, and when dealing with customers. Your brand defines your business and every part of that branding should be unique to you. Without trademarks, what will stop another business from duplicating your branding efforts and trying to steal your brand identity?
Trademarks make it easy for customers to find you
The marketplace is crowded and it’s hard to distinguish your business from your competitors. Trademarks/brands are an efficient commercial communication tool to capture customer attention and make your business, products and services stand out. Customers viewing a trademark immediately know who they are dealing with, the reputation of your business and are less likely to look for alternatives. Your brand could be the critical factor in driving a customer’s purchase decision (Entrepreneur).
Trademarks set you apart on the Internet and social media
When looking directly for your business, your brand is likely the first thing customers enter into a search engine or social media platform. Having a trademark on your brand, should protect you from your competitors placing bids on your company name. A standard digital marketing tactic is for companies to bid on each other’s’ names to gain the competitions’ customers.
Trademarks are an inexpensive way to protect your brand
Trademarks are rather inexpensive and never expire. Your trademark will not expire if you are using it in United States commerce. Some of the most recognized brands in the United States today have been around for over a hundred years. Because of the low cost of acquiring a trademark, it is a no-brainer for all brands to do so.
As a brand, you should trademark all elements that make your business unique and set you apart from others. Branding is critical to your business success and you need to protect yours not only in the new year but going forward.
Keep in mind that the more you differentiate your brand from others in your industry, the easier it’ll be to protect. Understanding that trademarks are the most valuable assets for your business will help you to launch into a successful 2021 and onward.
At Water Bear Marketing, while we had an interesting 2020 and enjoyed sharing it with all of you, we are ready to kiss it “goodbye” and to welcome the new year. We are excited to see what 2021 has to offer. Our new year’s resolution is to continue Advertising With Intelligence® and pushing the needle forward with new and innovative technology and expanding our Ad Pantry™. Woah! That’s a lot of trademarks in one sentence. See how impactful that can be? Do you think we were trying to prove a point or something?
Happy new year from all of us at Water Bear Marketing. May your new year bring you new adventures and much success.