Mindshare, also known as share of mind, is an approach to marketing that involves attempting to make a company, brand or product the first one that comes to mind when a customer thinks of a particular market. This is used as an approximate metric to measure consumer perception to rival companies, with the goal of asserting certain brand names over others. Some ways to achieve this could include a catchy jingle, careful positioning, strong social media presence and calculated communication by marketing teams.
In comparison to market share, the volume of sales between competitors, and heart share, a consumer opinion ruled by personal emotions rather than logic, mindshare focuses on consumer awareness and product popularity. Marketing efforts to increase mindshare are focused on the establishment of a brand as the first option that comes to a consumer's mind when they are in the market for a product the brand offers.
The optimal mindshare outcome occurs when a company’s name or product name becomes interchangeable in common vernacular with the product itself, also known as top of mind. Some popular examples of this occurrence include Q-tip, Xerox, Kleenex, and Hoover.
How does a brand get mindshare
- Offer quality, accessible products or services.
- Place importance on customer service and positive interactions with customers.
- Position the brand to highlight effective, competitive features.
- Depict a consistent company image or identity.
- Establish authority through search engines and social media channels.