The Three Keys For Brand Success
1. The Best Perceived Brand Value Wins!
Value is not based upon cost only, except for situations where the product or service is viewed as a commodity. Make sure that every customer experiences enhances your brand’s perceived value. Customers develop their perception of value through a subjective feeling that is the result of comparing their experiences with a brand’s products and services to competitors based on their own needs, preferences, buying behavior and characteristics. A customer’s perception of value constantly changes and it is based upon their perspective of three key attributes:
- How much time is involved?
- How will the experience make the customer feel?
- How much money will it cost?
2. A Genuine Brand is not about what you sell…
it’s about how your organization makes people feel!
While your business may be focused on the products you offer, such as financial services, healthcare or coffee etc., the product does not drive your “brand’s emotional connection.” Your brand’s emotional connection is the result of how your customers feel about their brand experiences…this is what will determine your success. Your customers may forget the details of their last interaction with your brand, but they will never forget how you made them feel. Recruit, hire and train only those people that are emotionally capable of delivering your Promise of exceptional experiences for your customers, whether it is in person, on the phone or digital.
3. Create the Paradigm Shift before your Competitor does!
Change will continue to occur at an ever increasing pace. Your choice is to lead the change, follow the change or get out of its way! If your organization is not prepared to transform and lead change, then be prepared to become irrelevant. So often, small businesses feel that big enterprises control the future…not true!
- Hertz did not create Uber
- Sony did not create Apple
- Bank of America did not create PayPal
However, transformation can create success!
- Holiday Corporation (Holiday Inn) created Hampton Inn
- Dayton Hudson created Target
- Sam’s Five and Dime created Walmart