As a speaker for TEC International, I had the opportunity to meet with business professionals throughout the United States and Canada. As my topic was branding, I always started each session with a simple question. “What is a brand?” The answers were all over the map. “Image, mark, product, logo, perception, identification, name, etc. The most common answer was that “brands were products”. Hmmmm?
Brands are not products. You can put products in boxes, stack them on pallets and store them in warehouses. They take up “physical” real estate. Brands on the other hand are more about thoughts, ideas, associations, feelings, promises, experiences, etc. They take up “mental” real estate. The value of mental real estate is far greater than physical real estate. Brands that ultimately define their categories can be worth billions…far greater that they assets they own, reside in or deliver to their customers. Why? Because a “brand = trust”, and people value in that which they trust… and little value in that which they don’t.
How do you build trust? You build trust by making promises and keeping them…and the value of that trust is directly proportional to the uniqueness and meaningfulness of the promises you make and how well you keep them.
People are brands too! What’s your promise? How well do you keep it? Can you be trusted? If people put value in that which they trust and little value in that which they don’t….shouldn’t it be YOUR goal in life and business to make good promises and keep them?