The Presidency as a Brand - Get it?
As I sit here watching President Obama in his first national address, it is impressive to note his sincere and impassioned argument for support of the stimulus bill. Whether or not you agree with President Obama or the bill, one thing that is clear, is that he is committed to living up to the promises he made during his campaign.
During his historic campaign, millions of people rallied in support of the promise of hope, change and progress that Obama represented. As always, there may be some debate on if President Obama's administration is living up to that promise, but there can be very little disagreement on the fact that everything that is done/said/distributed/reflected,is aligned with the promise originally made.
Align this example with your business. Your business brand is more than a logo or a snazzy creative campaign -- your brand is a PROMISE. It's a promise to the market about what you are going to do and how you are going to do it. It involves not only what you say in your creative campaigns, but how your customers are serviced when they come to your online/brick and mortar store.
Are you being careful about your brand promise? Do you know what your promise is? And, are you being as careful as the Obama administration regarding aligning all actions/reactions to your promise?
www.mymarket-ease.com
A moment of sappy...
I just got home from teaching an amazing group of young people how to start a business. It's a multi-week course, and I'm hoping that they get half as much out of it as I do.
A long time ago, when I decided to start
MarketEASE, there was a fire in my belly and a creative drive that made me feel like I could conquer the world. These days, with the day-to-day work that always needs to be done, I sometimes lose track of the excitement and enthusiasm I once had. This is no doubt very familiar to most of you.
Tonight, those young people reminded me what hope and eagerness for the future looks like. The looks on their faces as they contemplated what could be, and excitement at what they could create just based on their vision, was like a breath of fresh air.
It was a great reminder that we shouldn't forget why we are doing what we're doing. It's easy to get so caught up in the forest that we can't appreciate the cool shading of the trees.
Is it hard work? Absolutely. At times do we wonder if it's worth it? Probably. But we all looked like those young people once. Didn't we? Or have we gone too far to remember?
www.mymarket-ease.com
"Value" comes at a price.
By all reasonable accounts, we are now doing business in a "value" market. Simply put, because consumers are so careful about where their dollars are going, they are looking for the best deals.
Does this mean you need to slash all of your prices to be competitive? Not necessarily and you should tread very carefully with this approach. If you cut back on all of your pricing, you may find it difficult to raise them again when the economy recovers -- and you may alienate customers in the process.
Instead, evaluate your pricing structure to ensure you are competitive. And most importantly, be sure you are providing as much value as possible for the dollars being spent.
Use promotional offers when appropriate, especially for your most loyal customers to keep their business.
And last but not least, LISTEN TO YOUR CUSTOMERS and RESPOND. They will let you know how best to adjust your strategy.
What is your business doing to adjust in this "value" market?
