Page 110 - MYM 2016

Building Trustworthy Brand Value
is about the size of the business ideas. e market impact of brand leaders outweighs their market share.
or o ce, a convenient café experience where you could relax alone or sit with friends, work on your laptop or read a newspaper, and you get a choice of personalized great co ees made by trained baristas.
Market leaders have an opportunity and a
responsibility to lead. When pe“ople attack, they When Starbucks lost touch with its promise, sales
attack the leader. Some call this the penalty of leadership. We call it the prize of leadership. When
declined. Howard Schultz, the founder returned to the helm restoring the brand to its original premise.
a leader speaks, the world listens. In today’s climate of uncertainty, the imperative is to stand up for what you stand for.
Leaders innovate, they
do not just renovate. Dyson
built an amazing brand on a
series of consistent, relevant innovations. He began by addressing a common problem in an indus-
try that had not innovated for years. He designed and delivered a superior performing and bagless vacuum cleaner. He followed this by inventing a powerful fan that had no fan blades. He re-invented the hair dryer to make it safer and better. Dyson is a leadership brand.
2: deliver what you promise
Trust means that a brand will consistently live up to expectations. Promise what you can deliver; deliver what you promise. Be speci c. If you promise everything, you promise nothing. Make a trustworthy promise that if you buy this brand you will get this speci c experience. A brand is
a contract with a customer. Live up to the brand contract.
Starbucks promises a place away from the home
It’s important for brands to deliver
on their promise. Starbucks, for example, promises
a consistent café experience at any of their stores, while Apple promises high- quality, cutting-edge technology products.
Promise what you intend to deliver, and deliver what you promise.
3: be a trusted informational and educational resource
Information reduces uncertainty. In a world drowning in data, the challenge is to transform that available data into accessible, valuable, trustworthy customer information.
Amazon enhances its online mall store by o er- ing information personalized for you, suggesting products you might like based on what you have purchased. ese recommendations are accompa- nied by customer reviews. People o en trust the information from peers more than the advice of experts.
Information not only informs but it educates. Information helps people feel competent through knowledge of how to use the information. Com- petency breeds comfort. IKEA has an online responsive helper named Anna. Go online and “Ask Anna” for help if you need a new kitchen item or if you need a new kitchen.
An Apple computer is certainly intuitive and easy to use. But, if you are computer challenged,
Promise what
you can deliver; deliver what you
promise.
110 | MINd YOUr MarkETING OCTOBEr 2016