Showing posts with label New Diagnostic Tools. Show all posts
Showing posts with label New Diagnostic Tools. Show all posts

23 February 2009

Brand Trust: The 4Cs Model

Brands are like diamonds. Rather intangible. Hard to value with the naked eye. We look at that nice piece of sparkly glass and have no idea of its worth. De Beers solved this by introducing the 4C test. It worked. Now we can compare carat, colour, clarity and cut information before choosing the one we want.

Why don't we introduce a similar model to quickly assess brand trust. The 4Cs being - Clarity, Competence, Consistency and Connection.

1. Clarity - what is it that the brand promises to do that others don't? We can use my brand essence test here.
2. Competence - do customers believe it does what it says it will do?
3. Consistency - is the message consistent over time ...across communication platforms ....between comms, company actions and the delivery experience?
4. Connection - how strong is the 'pied piper effect' versus competitors. How many followers buy off promotion? What price premium do they pay?

Having a clear promise and delivering on that promise are inherent requirements for a successful product/service. But the measure of a true brand is the premium paid by its consumers. It's true sustainability measured by the number of consumers who repeatedly see that premium as one worth paying. This is a quick way to see where brand trust is being eroded, and help us decide how best to act. For instance, looking at consistency will highlight the confusion that car buyers might feel when they decide to buy a German brand only to discover it's actually made in India now.

See previous article on brand trust.

12 January 2009

Brand Essence in Just 6 Words

It is hard to write a story in 6 words but Ernest Hemmingway did. "For sale: baby shoes, never worn." A powerful sentence isn't it? It instantly creates a myriad of images and emotions in our minds. If I say "Maiden voyage....iceberg....not enough lifeboats.", you know I mean Titanic. The 6 word story has become a bit of a phenomenon with magazines like Smith and Wired encouraging people to write their 6 word life story and share it.

Why don't we apply the same principle to brands? Can you write your brand story in 6 words? It's a good test of how clear and unique the positioning really is against the background noise. I've had a go at three. Is Starbucks instantly recognisable from the words "Third place between home and work" or McDonalds from "The fastest burger anywhere on earth"? Can you name this brand just from 6 words? "Mint with a hole. Fresh breath." We live in times of overwhelming choice and little differentiation. Weaker brands are increasingly vulnerable - think Robertsons Jam. To get on the shortlist, to swing the vote as the wallet is opened, means having a clear brand story present in your customer's head.

Have a go at writing the 6 words which best sum up your brand or a brand you work on. How easy was it? Did the results surprise you? Might your competitor say the same? Would customers recognise you, and you alone? It's a revealing exercise. I'm not sure that McDonalds wants to be "the fastest burger anywhere on earth". But in my head it is. No mention of quality. But accessible and fast. Given the description some might say Burger King, but I'm betting more people would say McDonalds and that's not a bad place to be. Every brand has a 6 word story. What's yours?

This idea is now available to download from SlideShare as a powerpoint presentation.