What do companies like Apple, McDonalds, Starbucks and Toyota have in common?
They have successful brands.Meaning, customers trust they will deliver on their promise. And the reason they’ve earned this trust is that they’ve delivered, consistently, in the past.
What entrepreneurs and marketers need to appreciate about building a trusted brand is that without an effective ‘Branding Trifecta’ in place, the efforts will be in vain.
‘The Branding Trifecta’ has 3 critical components:
Number 1 – The Value Proposition: aka the promise, is defined as the bundle of benefits and advantages a customer will benefit from your business and its products and services.
Number 2 – Marketing Tactics: This component speaks to the tactics you will employ to entice and attract your ideal customer, so they are genuinely interested in what you offer (your promise). This is typically addressed by how you position the company in the minds of your customers, the Corporate Identity and the different platforms you’ll market the business on.
Number 3 – Customer Success: This is where you systematically ensure your customers achieve their desired results and preferred experience.
- Customers want more value for their money
- Reduces certain steps in the processes
- Improve the quality of the process and\or experience
- Increase their knowledge
- Help them create better growth opportunities, etc.
Customer Success is facilitated through your:
- CRM (Customer Relationship Management)
- Customer Experience
- Consistency (in delivering your promise)
Without these 3 components a business does not have a solid foundation on which it can build a scalable trusted brand.
See supporting slides attached (video). Would love to get your thoughts and comments on this idea.