Nike. Coca-Cola. Apple.
Unless you’ve lived under a rock your entire life, you have well-formed perceptions of each of these juggernauts.
Sure, they have quality products. Memorable logos. Catchy slogans and jingles. But their sustained success in driving growth, capturing new markets and dominating their respective industries is due to something much broader:
Each has a compelling brand promise.
For Nike, it’s “To bring inspiration and innovation to every athlete in the world.”
For Coca Cola, it’s ” To refresh the world… To inspire moments of optimism and uplift… To create value and make a difference.”
And Apple’s brand promise is just two words: “Think different.”
Notice anything? Not one of these mentions the products these companies make.
Okay, so if a brand promise isn’t about your products or services…what is it?
What’s a brand promise?
Similar to a unique value proposition, a brand promise is a clear, distilled statement of the value you deliver to customers. It should define your entire business and answer these three questions:
- Why do customers buy from you? (i.e., What sets you apart from the competition?)
- What problems do you solve? (i.e., How are your products or services relevant?)
- How do you make people’s lives better? (i.e., What are the quantifiable benefits your products or services deliver?)
What constitutes a strong brand promise?
A compelling brand promise should:
- Directly answer the questions above.
- Be credible and straightforward (i.e., skip the clichés and esoteric language).
- Be memorable and inspiring to your target audience.
Why is a strong brand promise so important?
Like your position and your people, your brand promise is one of the four pillars essential to driving business growth and change. It helps:
1. Define who you are – and aren’t. The elements of your brand promise create a compelling picture of the value you deliver, allowing your target audience to differentiate you from your competitors. When your audience clearly understands: who you are; what you can do for them; and how you do it uniquely well, they’re more likely to buy from you.
2. Build trust. Your brand promise describes the value or experience customers can expect to receive every single time they interact with your brand. When you consistently deliver on that promise, it reinforces your brand’s value in your customer’s mind. Over time, the trust you build positively influences purchasing decisions boosts your profitability and builds the foundation for higher customer retention.
3. Facilitate line expansion and change. When customers recognize and trust your brand, it’s easier and less expensive to launch new products or services. Loyal customers who know and trust your brand will be interested in your new offerings, anticipate their release and be confident that the changes you make are in their best interest.
4. Create a competitive edge in your market. Defining, building and consistently living up to a compelling brand promise sets the stage for business success in any market conditions. In addition to building recognition, credibility and customer loyalty, your brand promise allows you to stand out in a meaningful, sustainable way – and beat back the competition no matter what changes the world throws your way.
Are you looking for help developing your brand?
Developing a strong brand promise is a business imperative in today’s fast-changing environment. If you could use assistance creating yours – or managing any aspect of your company’s marketing – give BARQAR’s experts a call today!