Monday, November 2, 2009

What is your promise?

Most people spend most of their lives trying to fit in, but in business you want to stand out for all the right reasons.  In his article, The Brand Promise, Identifying the Single Most Important Measurable in Building Value, Verne Harnish, author of Mastering the Rockefeller Habits--the “Growth Guy” columnist for several publications and a contributing editor for Fortune Small Business magazine had this to say in his article on Brand Promise:
What is the promise you’re making to your customers that both really matters to them and makes you different from your competitors?
Would it be obvious if I went to your website or looked at your marketing materials?

This Brand Promise decision is at the heart of an effective strategy to differentiate your firm from the  competition. And your devotion to delivering on the promise must be maniacal and complete or the promise becomes an empty slogan. Determining a brand promise is a fateful moment in the life of any company. Choose the right one – the one your customers respond to, the one you can track and execute day after day – and you win. It’s truly that simple. Choose the wrong one, and you’ll probably flounder for years, never quite hitting your goals. So, how do you choose the right brand promise for your organization?
So, how do you choose the right brand promise for your organization?
Ask yourself, what is your customers’ greatest need? Not their wants – they’ll “want, want, want” you to bankruptcy if you let them!
What you’re looking for is what really matters to the customer that also demonstrably differentiates you from the competition. And while you’re at it, go to http://www.4pcb.com/, http://www.weldaloy.com/, http://www.rackspace.com/, and http://www.eagleu.com/ and study how these firms highlight, communicate, demonstrate and execute on their brand promises. Some of them are not the most elegant sites you’ll see, but they communicate a clear message.

There are two “must read” articles to help drive a brand promise. The first is Jim Collins’ (famous author of “Good to Great”) HBR article “Turning Goals into Results: The Power of Catalytic Mechanisms” – you can download the article at http://www.jimcollins.com/ (clickon Library then Articles). The second article is one I wrote entitled “The X Factor.” Goto http://www.fortune.com/ and search on my last name Harnish – you’ll  see it in the list – I promise!"

I recommend you spend time reviewing the articles and other resources at Gazzells.com and then get to work carefully crafting your Brand Promise. Finally, don’t go it alone, ask for help; send us an email or talk to your local SCORE chapter counselors.

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