Trademarks are extremely important to your business, and it is wise to understand why. With so much relying on good marketing, your trademark does make a difference.
Here are three reasons you need to get a good trademark and use it exclusively for your products. Understanding these can make it easier to choose and use the right trademark for your business.
1. Trademarks help identify you
Trademarks, first and foremost, identify your business. This helps customers find you faster, which is exactly what you want. An easy-to-recognize trademark distinguishes you from your competitors and captures the attention of consumers, which helps you brand yourself.
2. Trademarks are valuable
As your business grows, the value of your trademark does as well. Depending on your marketing strategy, getting your trademark known could help you expand into different industries. For example, your trademark might start in clothing fashion and then expand to eyewear, hair accessories and shoes. Your trademark's value will grow with every new customer you have.
3. They're a bargain for businesses
Businesses may pay as little as $275 for a trademark registration initially. Then, they'll spend a few hundred every five and 10 years to maintain the registration. For a product that gets your business known and identifies you to competitors and consumers, this is the deal of the century. Just make sure you update your registration every five and 10 years as required to prevent it from being sold to someone else.
The right trademark does make a difference to your business, so think carefully about the mark you'll use in the future.