The brainstormer Quiz of a recent group caught up my attention, moving away from its usual formats as it’s presented with a difference. The task given to the group was to identify a brand from a series of funny, catchy slogans, tagline used as an aid in promoting brands or products in the past and present. These catchy slogans have clever phrases and used as great motto to advertise and promote brands in a big way. When the Quiz Master announced the answers to each of those almost all the brands were known or we use in one way or other in our day to day life, however one could relate or memorize only 10% of the brands with these catchy taglines.
Why only a few brands come to our mind and we look for those? Researchers have proved, the human mind has the ability to retain and recall things that are unique and distinctive. There are areas in our brain which can store certain brands and slogans but not all. The brands that truly influence our mind are the one that emotionally we attached. Many of these products are unique that has enhanced our lives in one way or the other.
Many of the successful brands of today had created an exceptional customer perceived value which is mathematically equal to the benefit divided by the cost. The price is only one part of the three fundamentals i.e. Time, Feeling and Money. We often think the perceived value means the lowest cost. There are brands that highlight the lowest prices as a distinctive point and generally, this is an indication of the brand getting surrendered to the consumer’s mind as a commodity, lowering its value proposition and begins to start losing its brand identity. The crowd gets attracted to the lowest price will be primarily being loyal to the price and not to the delivered value. They will leave when a competitor comes in at a cheaper price.
Smart companies of today compete for emotion as it says connects your brand with your customer’s heart and not with the head. Position the brand to keep your customers grounded with emotional engagements. In a brand value formula, the perceived value should exceed the total cost both functional and emotional. A genuine brand understands that the lowest price strategy alone will not necessarily guarantee customer loyalty and satisfaction.
In order to be passionate about a brand, the organizations need to create, believe and deliver in a brand promise. Many Organizations of today including the fortune 100 or 500 talks about their commitment and dedication to customers, on one hand, is looking for outdated and low-cost solutions, overlooking how their brands are perceived in the market. It seems the corporate world of today are suffering from a ‘policy-mania’ that is a policy to control every possible process and actions. The policies are important, however; remember promises are delivered by people and not by policies.
We all use the word ‘genuine’ often means authentic in other words ‘trusted’. In today’s world, there are very few promises one can really count on and people appreciate if yours is one of them. The organizations which belief in creating such genuine brands and promises are the one which benefits today from the “integrity dividends”.
Think like a ‘Brand’
Every human being is a brand, the way we dress, talk and socialize. To be a brand we should think like a brand, which requires a different mindset, perspective, and unique approach. To become a personal brand doesn’t mean being powerful, rich or famous. Your promise as a brand is about how you want to be described and how you would like other people to feel about for which we will have to raise the bar both at a personal and professional level. Create a paradigm shift today to deliver a promise tomorrow with exceptional esteem be it ‘You or a “Brand” in your mind.