There exists an immutable, multifaceted, and interconnected relationship between mindshare and market share. Plus, a condition of duality.

(Okay, we just got philosophical on you. But hang in there with us because this is an important and cautionary tale for leaders charged with taking their company to the next level.)

The meaning of market share is readily understood; it’s the portion your company commands within a sector. This translates into things such as sales, revenue, buyer preference, valuation and more.

You’re not alone if mindshare is less familiar to you. Mindshare is what your stakeholders – including prospects, customers, partners, investors, employees, job seekers, investors, competitors and more – believe about your company. Just like market share, you want to grow and nurture your company’s mindshare.

Which brings us to the first of two Laws of Mindshare we’re presenting today: Positive mindshare fosters market share growth.  

Positive mindshare manifests in multiple ways, including:

• Your organization is viewed as an innovator and thought leader
• Buyers believe your offering can solve their problems
• Partners rank your products and services as the top solution

Most importantly, when a company has mindshare, the probability of getting short-listed, winning business and growing market share significantly increases.

However, the opposite sequence can occur which informs the second of today’s Laws of Mindshare: Market share loss fosters negative mindshare.  

Negative mindshare similarly reveals itself in multiple ways such as:

• Your organization is viewed as damaged goods and rudderless
• Buyers don’t trust your offering to solve their problems
• Partners think your offering as uncompetitive and risky.

Put simply, when a company’s market share is in decline – or, worse, in freefall – mindshare morphs into a damaging stakeholder-driven narrative of fear, uncertainty and doubt (FUD) for the brand.

How strong is your mindshare? And are you in control of it?

To answer those questions, take a look at how your market share is trending.