Mindshare is what we perceive and believe about something or someone. It’s more that awareness (e.g., “I’ve heard about it or them”). And – for the most part – everything and everyone has mindshare. Learn more about mindshare vs. awareness.

You may be thinking, “Great, I have mindshare, my company has mindshare, and my competitors have mindshare. So, why are folks from Mindshare Advisors telling me I need a mindshare strategy to help take my business to the next level?”

The answer to that question is do you have the right kind of mindshare?  

You can likely rattle off names to most, if not all, of these mindshare scenarios:

• This person is super smart vs. that person is a blowhard
• This company is going places vs. that company is damaged goods
• This product is innovative vs. that product is long in the tooth
• This partner is great to work with vs. that partner is a pain in butt
• This customer account is profitable vs. that customer account is a resource drain

Mindshare needs to be intentionally groomed if it is to have a positive impact.  

Here’s an example of mindshare at work… You’re no doubt familiar with the slogan and logo, “I Love New York.” In the 1970s, New York – specifically, New York City – had negative mindshare due to crime, blackouts, and a city on the verge of bankruptcy. Tourists stayed away. In response, the New York State Department for Economic Development launched the now-famous campaign to foster positive mindshare to ignite tourism. And the rest is history. Read about the I Love New York campaign here.

Positive mindshare is a powerful asset that helps companies punch above their weight class. This kind of mindshare ensures your company is viewed as an innovator and thought leader; it convinces buyers to believe your company can solve their problems; and it influences partners to rank your company as the top solution. In short, positive mindshare fosters market share growth. Learn more about the correlation between mindshare and market share.

If you’re a leader responsible for taking your company to the next level (e.g., launch, growth or exit), make mindshare part of your plan.