Brand Promise and How to Make a Deal with your Customers
Do you offer a guarantee like this one? They should pay me $5 just for having to read all this nonsense. Let’s talk about a few ways this fails:
- Every product in the store has been bar coded and the checkout system is completely computerized and has been for decades. Are customers really concerned about getting overcharge? Really? All this guarantee does for me is make me wonder why their computer checkout systems are not accurate. It doesn’t breed confidence.
- Why the exclusions? Are the computers somehow less accurate for this random selection of categories? Why should I not receive accurate pricing on these categories as well? Maybe they want to punish their smoking or drinking customers, but dairy? I don’t get it.
- They’re going to give me a $5 gift card? So I have to come back and shop in this inaccurate-pricing store again. No thank you.
There are so many limitations here and no real incentive for this store to ensure accurate pricing. For a guarantee to matter, it has to be painful for the company to deliver on that promise. For more on this idea, read the article The Power of Unconditional Service Guarantees. BBBK offers a guarantee that really packs a punch. “If you are ever dissatisfied with BBBK’s service, you will receive a refund for up to 12 months of the company’s services—plus fees for another exterminator of your choice for the next year.” Would that promise be painful to BBBK if they broke it? Does that give you confidence buying from them?
There are actually two concepts here, brand promise and a brand promise guarantee.
Let’s start with brand promise. To ensure you have a good one, it must meet three tests:
- It must be measurable.
- It must be unique (creating differentiation between you and your competitors).
- It must meet the most important needs of your core customer.
The second concept is that of a brand promise guarantee, or catalytic mechanism. The guarantee is what makes the promise real. If there’s no pain to your company when you fail to deliver on your promise, then it’s an empty promise, like buy this beer and you’ll look attractive. How’s that working out for you?
Take a moment and ask yourself if your brand promise meets the criteria above and is it painful to the company when you enact your guarantee. For more information schedule a free coaching session today.