In spite of increasing competition, in most markets, McDonald’s is the first restaurant people associate with fast-food restaurant chains. And, when asked to name a popular cola soft drink, the majority will think of Coca-Cola first.
In marketing, the first business consumers think of in a category is said to be the business with TOMA…Top-of-Mind Awareness.
And here is why capturing TOMA for your business is important. Share-of-Mind or TOMA translates directly to share-of-market. Worldwide, McDonalds outsells the number two and three fast-food chains combined, and Coca-Cola outsells Pepsi and RC Cola combined.
Many businesses make the mistake of depending solely upon advertising to build their way to high awareness levels.
But advertising can’t make a bad business a good business.
If your business is not already getting repeat business and referrals, you will not be able to maximize the return on your advertising investment.
If you are getting repeats and referrals, advertising is one of the most powerful tools you can use to multiply that success.