When you think of your favorite brand, what emotions or feelings does that brand produce? Are they feelings of security, success or even a sense of belonging? A great brand will not only make you want to do business with them or buy their products, but will make you feel that you are someway connected to the brand. This is marketing at its best as it fulfills a human need; the need to feel that we are a part of something bigger than ourselves. This is known as “brand trust”. “Brand trust” not only produces repeat customers, but allows a company to expand their product offerings or delve into a new market at less risk that those who don’t have “brand trust”. Or said another way, each brand has at its center something that gives it strength, once “brand trust” is established, therefore allowing them to take risks. These new products become the spokes of their center strength. As a company, you must understand what your strength is before you can grow it.
A common misconception among companies is that they believe a brand is something they produce, or something it does. On the contrary, brand is how you do it. It is not the strengths or value proposition that your company or product brings to market but rather it is how your customers view your products or connect with it in a personal way. The brand may even encompass more than your actual product as in the case of Starbucks. Founder and CEO, Howard Schultz tells a story about a barista who once told him that “We are not as he once thought, in the coffee business serving people, but rather in the people business serving coffee”. Early on Starbucks realized how critical their front line employees (baristas) were to the overall brand. If they took care of the baristas by offering them great benefits and working conditions, this in turn would result in greater customer loyalty and trust in their brand. I think no one can argue about the success that Starbucks has had not only in growing their business but creating one of the truly great brands in business today.
“Brand trust” is not easily earned but can be easily lost. Companies should be very cautious when they are producing new products or launching new marketing strategies. Perhaps reflecting on whether or not this product will coincide with the overall brand or asking if it will help build brand awareness. If the answers to these questions cause one to pause, these product ideas possibly have the potential to damage the brand
In the end, building” brand trust” is more than just having a great marketing strategy or creating great advertisements. It is about connecting your company and products in a personal way with your customers. What are you doing to build “brand trust” Do you know what your competitors are doing?
For further reading on this topic: “A New Brand World”, Scott Bedburry.
A common misconception among companies is that they believe a brand is something they produce, or something it does. On the contrary, brand is how you do it. It is not the strengths or value proposition that your company or product brings to market but rather it is how your customers view your products or connect with it in a personal way. The brand may even encompass more than your actual product as in the case of Starbucks. Founder and CEO, Howard Schultz tells a story about a barista who once told him that “We are not as he once thought, in the coffee business serving people, but rather in the people business serving coffee”. Early on Starbucks realized how critical their front line employees (baristas) were to the overall brand. If they took care of the baristas by offering them great benefits and working conditions, this in turn would result in greater customer loyalty and trust in their brand. I think no one can argue about the success that Starbucks has had not only in growing their business but creating one of the truly great brands in business today.
“Brand trust” is not easily earned but can be easily lost. Companies should be very cautious when they are producing new products or launching new marketing strategies. Perhaps reflecting on whether or not this product will coincide with the overall brand or asking if it will help build brand awareness. If the answers to these questions cause one to pause, these product ideas possibly have the potential to damage the brand
In the end, building” brand trust” is more than just having a great marketing strategy or creating great advertisements. It is about connecting your company and products in a personal way with your customers. What are you doing to build “brand trust” Do you know what your competitors are doing?
For further reading on this topic: “A New Brand World”, Scott Bedburry.
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