Building the all-important brand trust starts with fresh rules and, therefore, requires breaking of some entrenched old habits. In this post, I’d like to overturn four of the most unhealthy business myths that impact on brand trust.
1. Business is Not Personal.
In the new economy, the old saying, “business is not personal” no longer holds. Today, business is hyper-personal, with brand trust now firmly in the hands of people.
Humans have many complex emotions and brand reputation is more than a personal buying experience. It extends to things people care about, even if they don’t buy your products or services. And what used to be personal social sharing is now a social-network-personal sharing.
A business absolutely MUST maintain its connection with people if it hopes to survive, and connecting on a personal level is how businesses will thrive in the Digital Age. But what does “connecting” really mean? How can a multinational corporation really connect with each customer – and what can the little guy teach the world about authentic branding?
2. Data-based Marketing is Not Necessary
The current rate of change in business and markets is so fast that the months you spend studying your market are rendered useless within weeks. Sounds logical? Think again. It is not enough to gather information about the demographics and interests of your market. In order to craft a your branding message, you must be involved with your market! It’s the difference between imitation and authenticity. You must learn how to immerse yourself in the culture of your market to become part of their conversations, hobbies, interests, and passions if you want them to trust you enough to buy from you.
3. You Are Not Your Product or Service
The key factor that will separate you from your competitors, that “unique offer”, will never be the product you create. It will never be the premium service you offer. There will ALWAYS be someone who can offer the exact same thing as you (even if it’s a ripoff from you) for a lower price. Most services are covered. In reality, there’s almost no product or service that will make people love you so much they will never get a comparable one somewhere else.
What will make you unique in your marketplace is the trust that it has in you. Your brand either instills loyalty and creates raving fans, or it doesn’t. Those that don’t are forgettable and their days are numbered. In order to build an iconic brand that people love, you must earn their trust – one person at a time.
4. Think Small
When we think of many of the top innovative companies today, we often forget that they all began very small. Nike did not become the leading shoe retailer for athletes by building a large factory and immediately producing a million shoes for the market. Apple did begin by offering corporations their products. They all began small, by earning the trust and respect of a small group of people, who then raved to another small group of people. Thus, empires are built.
If you are already the leader of a large corporation, there’s still hope! Small businesses have an advantage in that they are still closely connected with their customers. Consider your favorite coffee shop – do the employees know your name, your favorite drink, your family? Do they begin making your drink when you walk in the door and always deliver it with a smile? These are the kinds of everyday behaviors that businesses of all sizes need to adopt if they hope to thrive in today’s world.
What are you doing consistently to ensure that each and every team member makes an effort to connect with customers in a positive manner? How are you using social media, newsletters, and your website to actually engage WITH your market and not just talk to them? These are the kinds of things that all your “market research” funds need to be going to!
