Trademark and the corresponding domain name is one entity. When you want to create a brand, it is almost impossible to make it without having dot com or at least national domain. Business people need to have an understanding of why trademarks are valuable assets and help grow their business. Marks on the Internet are domain names. Here are the seven top reasons why good branding is essential to your business.
1. Trademarks are a primary communication tool. In a single brand or logo, trademarks can convey attributes and messages about you, your company, and your company’s reputation, products and services if you are the owner of the common name for the business activity like booking.com, hotels.com or similar. Consumers will know that you are a serious player in this particular field.
2. Your trademark should make it easy for customers to find you. The marketplace is crowded, and it’s hard to distinguish your business from your competitors. Trademarks/brands are an efficient commercial communication tool to capture customer attention and make your business, products and services stand out. However, the most important thing is that your trademark allows your customer to find you directly. Your brand could be a critical factor in driving a customer’s purchase decision. When I’m looking for a booking, I will find booking.com first.
3. Trademarks allow businesses to utilize the Internet and social media effectively. Your brand is the first thing customers enter into a search engine or social media platform (Facebook, Twitter, Pinterest) when looking for your products and services. Higher traffic on a website or social media platform translates into more top rankings, bringing even more traffic, more customers and more brand recognition.
4. Trademarks are a valuable permanent asset. Trademarks can appreciate over time. The more your business grows, the more valuable your brand will be. Trademarks are a property asset, similar to real estate, that can be bought, sold, licensed (like renting or leasing) or used as a security interest to secure a loan to grow your business.
5. Please keep it simple. When I want to book a hotel, it is quite obvious we can do that at booking.com or hotels.com.
6. Trademarks on the Internet are cheaper than the added value. In most cases, the value of the generic domain name is much higher than the price you will pay for it.
7. Trademarks never expire. Your trademark and domain name will not expire. Some of the most recognized brands on the Internet are common names like booking.com. Brands are a critical asset. Do your due diligence before investing a lot of time and money in launching a new brand. Be sure the brand fits your company. Your generic name of what you are doing is simply the best.