By Dipo Oyewole @dipooyewole
Every enterprise no matter the size, the similarities they share or the differences that separate them, there is always a cardinal factor the unifies them all – trademark, something that each one has chosen to use as a tool to set themselves apart from their competition and every other business.
This trademark is the key signature, the untold ingredient in the background that oozes to the back of the long queue. Interestingly, this similarity is shared by both successful and unsuccessful businesses. No business lacks a trademark, unlike competence which you either have or lack thereof. A trademark is something that sticks with you in all seasons of your business, the good, the bad and the very unprofitable (most times the cause of it).
There can be no scarcity of a trademark in any business. It is often a conscious effort to do things in a certain way to obtain (un)desirable results. Most don’t realise it is also how the business is perceived (there is a fine line between trademark and branding) which is ultimately a result of many factors ranging from customer service relations to representation and so on. However, getting the desired result of the trademark proposed is often where the needle refuses to be threaded.
A trademark is/should deal with the internal capacity, quality standards, overall company performance and business culture as it relates to their day to day operations to achieve their short-term and long-term goals. This, in turn, forms an opinion in the minds of the customers, either poorly or for the better. A signature is a unique form of identification that one can rarely be dissociated from, a trademark is written from the same quill.
Purposes and benefits of a trademark
Distinction: A unique identifier that sets a business apart from its competitors based on how their products and/or services are delivered to the clients. It goes a step further than what a name can provide, not just clarity on the identity of the seller but why it deserves to stand alone and not blend in with pre-existing ones.
Marketing strategy: A trademark is a seal on the name of the business, either to instil confidence in the hearts of those that hear of it or help then make their decisions faster on which competitor to patronise. It keeps the clients and the customers where you want them, with you.
Philosophy: It informs others of what principles guide you in decision making and how it affects the output churned out in the business. A business philosophy is a silent code of conduct, silent because it is not spelt out daily, but daily it is heard in the hearts of all.
They are the principles that steer the ship in either direction it eventually goes or whatever harbour it berths, Paradise or otherwise.
Consistency: Adaptation doesn’t mean unwavering ways of conducting business. Neither does consistency mean being rigid or being so stereotypical to ignore relevant adjustments. Nonetheless, being able to guarantee steady results despite adaptation to circumstances has no higher confidence provider to it. Everyone likes certainty even if the root justification of the decision made is heavily laden with uncertainty. That’s what anyone ever pays for, confidence, in you, your product and service you provide standing the test of time you promised and the confidence that satisfaction will not be extinguished untimely.
Having a trademark is one of the main elements of a successful business, but it requires other comrades to tag along with; competence, hard work, diligence, integrity and others. A trademark is always a launching pad for exponential results, either from those who have had first-hand experience with the business or otherwise, because it generates ripples of perceptions and corresponding emotional responses from existing and potential customers.
I believe it is needless to say having a positive trademark is most profitable for business. Well known thriving businesses that have stood the test of time don’t necessarily do things differently over time, some have maintained the same processes, quality and experience – (Their Trademark) with little or no deviation from what they were known to deliver in terms of customer satisfaction.
Developing or finding (whichever applies) a winning strategy and staying with it guarantees a lasting trademark; of Excellence and sustainable growth. Learning to evolve parts of the said strategy to remain relevant is another pigeonhole to look through as you walk through the doors of success.
While you stair the processes that drive your business, remember a good aroma is not always enough, learn to identify your secret sauce and keep it fresh for as long as you are interested in the growth of the business.
- Oyewole: CEO/Principal Consultant, Sentinel Consulting, dipooyewole@sentinelconsult.org
