This is one of the most underappreciated words in marketing. It is a word that should be used more often, but it has yet to be fully used in this way. It is the word that should be used when a company wants to gain attention by creating a new product, service, or trend, not when it wants to spread its message.
I see a lot of buzz from marketing companies using acronyms, but I think this one is the most important one. Not only because it is a powerful way to build brand equity, but because it is so easily misconstrued. The acronym is very hard to spell because there is so much stuff that is spelled with an acronym. But because there is so much stuff that is spelled with an acronym, most companies don’t use them because it seems like too much work.
Marketing is very hard. I agree. It’s also very easy to mistake marketing for a marketing buzzword. So I think the acronym is more important than most people realize. If you have to spell your acronym, you’re probably not doing your marketing right.
Although marketing is usually defined as sales and advertising, marketing is more than just those things. Marketing is a method of communication. It is the use of techniques (both subtle and obvious) to persuade people to buy a product or service. Of course, this definition is too broad. Marketing can be anything from selling your company a new car, to being the best salesperson in the world.
So for example, it is possible to effectively market a product or service by marketing it as an acronym. A marketing acronym might be: WOW, wow, we are really impressed; UGLY, ugly, we are really surprised; and, I don’t even know what this one is called, but we should definitely get it.
For instance, the world of marketing and business has evolved greatly in the past few decades. In the ’80s, you would get a lot of press for your company’s acronyms. Remember, there were no newspapers back then. And most of your press would come from the media (and other companies) that you were trying to convince your customer base to buy or give their product.
I do agree with you that the marketing and branding thing hasn’t changed much over the last 25 years. But I think that it’s time for the media to catch up and start using acronyms properly. We’ve got people who don’t even know what an acronym is, and a lot of the times they’ll say it to be funny. But it’s not a funny word.
I’m not saying this as the marketing/branding expert, but I think that it is a good idea to use acronyms for marketing purposes. But if you are going to use acronyms for marketing (as I did), make sure that they are clear and concise. If you are going to use acronyms in marketing, be sure that they can be understood by the majority of your customers without being a complete pain in the ass.
The reason I say this is because I have seen a lot of marketers get really offended when they hear an acronym and then have to explain why they are using it. I can take some anger out of a customer by saying, “I’m going to call you ‘R’ and you will say ‘R’ and this is going to sound like an acronym.” But if you are going to use an acronym, make sure that it is clear and concise.
Yes, an acronym is an acronym. If I am going to use a marketing acronym, how are you going to know? I don’t know why I use an acronym. You can’t make me understand it.