Succeeding in business nowadays can be daunting. After all, not only must you compete with brick-and-mortar outfits, but you also need to do better than online retailers. To win new customers and retain existing ones, you should become familiar with the rule of seven.
According to Indeed, it takes the average consumer seven interactions with a business to develop brand loyalty. Once your customers are loyal to your brand, you do not want them to confuse your company with others. Therefore, it is critical to take steps to protect your company’s brand identity.
Create strong branding
Even though you have an in-demand product or service, you need a catchy way for customers to identify your business. This is where your name, logo and slogan come in. To get the most out of these, it is critical to create a strong brand. Put simply, by choosing a name, logo and slogan that are easily identifiable, you help to minimize consumer confusion.
Pursue trademark protection
While you may be able to come up with a powerful name, logo and slogan by yourself, you also may want to employ the services of a branding professional. These services are not likely to be inexpensive, of course. Therefore, to ensure you receive the full benefit of your investment, you should pursue trademark protection for your name, logo and slogan.
Enforce your trademark
Even though you theoretically may be able to assert ownership of your brand identity without obtaining a trademark, trademark protection removes all doubt. Furthermore, you do not want to ignore infringements on your trademark. By taking action against all infringers, even those with marginal infringements, you keep your brand identity strong.
Ultimately, while protecting your company’s name, logo and slogan may take you away from other important tasks, generating and enforcing a bold brand identity are likely to improve your bottom line.