BRIDGING THE GAP BETWEEN MARKET SHARE AND MINDSHARE BY BTL MARKETING

The year was 1801, a partially deaf German was trying to keep himself awake by plunging his head in cold water in a bid to make history.

As he went up the scale of C#m, mastering every keystore, he eventually came up with an elaborate composition with a rather pedestrian name of Piano Sonata No.14.

The composition was later named the Moonlight Sonata. The composer was Ludwig Van Beethoven.

Is this a history lesson on, arguably, the most beautiful piece of music in history? No. 

It was an attempt to zoom out and admire the scale by looking at the whole and appreciating the minutiae that stack up to make the whole.

The sum is greater than its parts.

If we come back to the bread and butter of our existence, two things are leading the pack in the sphere of retail design – Market Share and Mindshare.

Considered distinct from each other, market share dominates the world view of ‘number crunchers,’ while ‘storytellers’ are governed by mindshare. But what if we tell you that a detached approach is subpar in announcing yourself to the world, and the two seemingly distinct domains are intertwined?

The sum is greater than its parts.

A robust market share is a weapon that reinforces the position of your brand in the consumer’s minds, while a sizeable mindshare makes the brand seem ubiquitous to whatever niche it operates in, which then drives sales. Think Xerox for photocopiers, Sharpie for a sketch pen.

At this point, it’s fair to question the point of this insight. The domain in which this interwoven approach of market share and mindshare comes into play is cluster markets, one of the best ways of conducting BTL marketing By leveraging below-the-line strategies in such focused environments, businesses can ensure both mindshare dominance and market share growth

Think of an area within a city that deals in the same product/service, all vying to get your attention—Zaveri Bazaar in Mumbai or Balli Maran in Old Delhi. They are some of the most famous cluster markets in the country, dealing in jewelry and footwear respectively. These markets have seen some of the best activations for BTL marketing, where localized, on-the-ground efforts created a tangible impact. (Hyperlink to 'saturating senses and markets with branded cluster markets’ blog).

The path toward mindshare dominance is direct when a business chooses to brand a cluster market. The very nature of cluster branding in BTL marketing involves an overwhelming approach of painting the market red (or whatever your business’ colors are), essentially embedding the business within the fabric of that market. This creates an impression as strong as the face tattoo on Mike Tyson.

On the flip side, the sheer hold of mindshare is so powerful that the consumer feels the urge to act and choose the dominant brand, driven by subconscious influence. This drives sales and market share.

The vast swarms of people in cluster markets unlock a unique avenue of branding in the form of BTL marketing, which bridges the gap between market share and mindshare. Instead of calling it ‘spending,’ investing in a cluster market reinforces your brand in a condensed space, making it the brand, which aids in moving products off the shelves.

The sum is greater than its parts.