Category Archives for "brand management"

brand credibility and bullshit article from BNBranding

Brand credibility killers— 5 things guaranteed to set off my BS detector

brand credibility from branding expertsAll great brands share three traits : Relevance, Credibility and Differentiation. It’s like a three-legged stool of success. Today we’re going to focus on the credibility leg.

Many successful businesses are built around commodities or me-too products, with basically no differentiation. And you can build a trendy business on short-term relevance and one-time transactions. But you can’t build a brand that way.

By definition, Brands require loyalty. And without some degree of credibility, you’ll never establish a loyal following.

So you can’t build a brand without credibility.

And once you’ve established credibility in your niche, you have to work really hard to maintain it. Because a lot of little things can whittle away at that leg of the stool, until you fall on your ass.

So let’s look at some things that can kill brand credibility.

brand credibility and bullshit article from BNBrandingWhile our tolerances vary, everyone is sensitive to marketing bullshit. Consumers are quick to call you out on anything that looks like it, sounds like it, or smells like it.

P. U!

So here are a few things that trigger my own BS detector. I’m talking about business practices, marketing tactics and common oversights that alert, annoy and turn-off prospective customers. I’m sure I’m not the only one who has a nose for this stuff.

Brand Credibility Killer #1:  A crappy product or service.

The single most important contributor to brand credibility is the product or service you deliver everyday. The work has to speak for itself. Credibility needs to be built in.

Doesn’t matter if you position yourself as a credible “thought leader” in your industry if the product you put out is a stinky, second-rate knock-off.

What you DO carries far more weight than what you SAY.

So if you’re concerned about your credibility in the marketplace, don’t start with a content marketing initiative. Start with a product improvement initiative.  Then build a story around that.

Killer #2: Too many “yeah buts.”

This one is closely related to cred killer #1. Anytime I hear the a lot of  “yeah buts” from a business owner or salesperson, I know it’s more than just a credibility problem. It’s either an issue with the product or the fundamental business strategy.

You often hear it from enthusiastic entrepreneurs who are trying to raise money to get a half-baked idea off the ground with no go-to market strategy.

A potential investor says, “Wow, that’s a really crowded category with a lot of big-name brands slugging it out for market share.”

“Yeah, but we’re different.”  “Yeah, but they’re too big to capitalize on this opportunity. We’re more nimble.” “Yeah, but our mousetrap is better.”

There’ no way you’re going to establish brand credibility if you’re always making up excuses, playing defense and using “yeah-buts” on a regular basis.

My favorite — from the natural foods industry — is the flavor yeah-but.  I’ve heard this one when companies are fighting for retail shelf space or distribution deals.

The buyer diplomatically delivers the bad news: “Your flavor profile just isn’t up to par in this category.”

“Yeah, but our product is chock full of nutrients.” “Yeah, but ours doesn’t have any additives or fillers.” “Yeah, but ours is Keto!”

Doesn’t matter if it doesn’t taste good.

Do whatever you have to do to eliminate all the yeah-butts from your marketing pitch.

Brand cred killer #3: Gross exaggerations and/or flat out lies.

Nothing triggers the human defense mechanisms faster than blanket statements and bold-faced lies. You’d be amazed how many companies routinely con people.

The industry I’m in — marketing services — is crowded with inexperienced people scrambling to establish brand credibility.  Self-proclaimed “experts” will hype up the latest “marketing strategy”  and proclaim that “This is it! This is the holy grail of marketing! You’ll never need anything else.”

Then, a few months later, it’s something else entirely.

By chasing the shiny object and short-term sales, they sabotage their own credibility.

One big-name marketing consultant says, flat-out, “there’s no such thing as a visual product.” He contends you don’t have to show what you’re selling, just write about it.

brand credibilityThat’s nonsense, of course.

If that were true there would be no fashion industry and every automobile would have the design aesthetic of a Pontiac Aztek.

Other experts stick to the old adage: “A picture’s worth a thousand words” and insist on a visually-driven advertising for every product under the sun.

That’s not the answer either.

The truth is,  you need visual, written and oral brand messages.  And the marketing mix depends…  It depends on your product or service. It depends on your audience. It depends on the medium. It depends on what the competition is doing.

There are infinite variables.

Blanket statements, pat answers and guaranteed systems simply don’t help the brand credibility of any professional services firm. Your credibility, online reputation, and brand authenticity will be better served by simply admitting that you don’t have all the answers.

Confident, credible companies aren’t afraid to say  “we don’t have the answer for you yet, but we’ll sure find out.” That means they’re genuinely listening, and they’re working with your best interest at heart.

That’s far better than forcing everyone into the same “my way or the highway” mentality.

Killer #4: Ridiculously lower prices.

I’m not an expert on pricing strategy, but I know a stinker when one wafts across my computer screen.

Every time my firm buys another URL  or files another Trademark application we get boatloads of junk mail offering us ways to make that new brand successful.

Like the crowd-sourced “brand logos” for $79.

The sure-fire product launch formula for $29.

“Expertly-written” website content and blog articles for only $12.95

Many of those offers are just too good to be true.

Everybody loves a good bargain, but when I see someone claiming to provide a 1-minute explainer video complete with scriptwriting, animation, editing, sound and talent, for $168, I just laugh.

And it’s not a nice laugh. It’s a scoffing, “no fn’ way” laugh that says you have absolutely no credibility and no chance of making a sale. The ridiculously low price pegs the service as schlocky, unprofessional and downright worthless.

So make sure your pricing is aligned with your competitors, to some degree or another. You gotta be on the same playing field, even if it’s a little uncomfortable at first. Let someone else jump on that race to the bottom.

Brand Credibility Killer #5: The faceless website.

more effective advertising from BNBranding

No one wants to do business with a faceless corporation or a shell company. And yet, everyday I run across another ecommerce company that’s selling stuff online with absolutely no hint of who’s behind the curtain.

No “about us” page. No blog. No background, history or purpose, other than making a few bucks.

I made the mistake of buying something on a site like that. Once.

Unless you’re a felon selling counterfeit fashion items, you need to have some sort of content up on your site that shows who you are and what your company is all about.

Even if it’s just a side hustle, it needs a face,  a brand personality, and a story of some sort. If you think you have nothing to say, be honest about that. Own it.  Even a boring story is better than no story at all.

So, if you want to build a credible brand, here’s the plan:

  1. Build a great product or service that people will want to talk about.
  2. Eliminate all the “yeah buts” from your marketing language. No excuses.
  3. Set your prices strategically, with your purpose and position in mind. Don’t race to the bottom.
  4. Be honest. Stop making blanket statements and bullshit offers.
  5. Put a face to the company. Make it human. Give it some personality.

Oh, and I almost forgot… do what you say you’re going to do. If you don’t do that, routinely, the rest of it won’t matter.

Get more on truth in advertising.

Learn about brand integrity and truth in natural foods marketing.

a new approach to website design BNBranding

 

 

 

 

1 bank branding on the Brand Insight Blog from BNBranding

Is “Inspiring Bank” an Oxymoron? The Branding of Umpqua Bank

It’s interesting, where people find business inspiration. For some, it’s the pages of Forbes or podcasts with big-name entrepreneurs. For me it’s the bookstore or the latest issue of Communication Arts or working directly with business owners.

I don’t think anyone looks at bank branding as a source of inspiration.

bank branding on the brand insight blogBanks are not known for their inspiring interiors or groundbreaking marketing practices. The most exciting thing to ever happen at my bank was the emancipation of the counter pens…  They were released from their chains and replaced with crappy logo pens that are now free to take home with just a purchase of a $10,000 15-year Certificate of Deposit.

Nope. The banking industry is the last place I’d look for business inspiration or marketing insight. That is, until I met Ray Davis, the recently retired CEO of Umpqua Bank.

Turns out, he’s not inspired by the banking industry either.

According to Davis, the key question driving strategy discussions at Umpqua has been, “How can we get people to drive by three other banks to get to ours?”

That question has steered the bank’s team to look outside the financial sector for inspiration. For instance, Umpqua’s brand has been heavily influenced by the retail industry. “Build the branches around interactions, not transactions.”

Umpqua Bank has grown from $150 million to $24 billion in assets during Davis’ time as CEO. Today it has 350 stores in three states. But perhaps more importantly for the brand, Umpqua has been included in Fortune Magazine’s list of 100 best places to work  — eight years in a row.

Bankers and banking consultants from all over the world visit the Umpqua headquarters in Portland and the San Francisco branch to see what they’re doing and how they’re doing it. And what’s even more impressive is that executives in completely different industries are also looking to Umpqua for inspiration.

Turns out, we really can learn from a bank when it comes to branding.

So what’s behind it? What’s turned this small town brand into one of the fastest growing banks in the nation?

“Umpqua started to take off once we realized what business we’re really in,” Davis said. “I don’t believe we’re in the banking industry. We’re in the retail services business.”

When Davis applied for the job at Umpqua he warned the Board of Directors that he was going to throw out all the old conventions of the banking industry and start something completely different. Because he believed they couldn’t compete against the big guys in any conventional way.

“Banking products are a commodity,” Davis said. “You can’t differentiate yourself that way. The big guys are just going to copy any good new product we come up with. But they can’t copy the way we deliver the service. They can’t copy our experience.”

bank branding on the Brand Insight Blog from BNBrandingFor that, he borrowed ideas from two great retailers… Nordstrom and Starbucks.

Umpqua stores look more like the lobby of a stylish boutique hotel than they do a bank. You can settle into a comfortable leather chair and read all the leading business publications. Have a hot cup of their Umpqua blend coffee. Check your e-mail or surf the web. Listen to their own brand of music and maybe even make a deposit or open a new account. Who knows.

It’s a dramatic leap when you compare that experience to the cold, marble standards of the banking industry.

Clearly, Davis knows how to execute. He doesn’t talk about “execution” per se, but he obviously has the discipline to match the vision. He’s knows how to motivate and how to manage an organization through dramatic changes. And he’s built a corporate culture that aligns with the brand promise.

Here are some of the things Davis has successfully implemented and some reasons why bank branding is now on my inspiration radar…

• Random acts of kindness:  Local Umpqua teams just do good stuff, like buying coffee for everyone who walks into a neighboring Starbucks. They don’t have to ask permission.

• They get their customer service training from Ritz Carlton.

• Every Umpqua employee gets a full week of paid leave to devote to a local charity. That’s 40 hours x 1800 employees! Any other banker would do the math and say it’s too costly. Davis says it pays off 100 fold. That’s bank branding at it’s best.

• They have their own blend of coffee. Shouldn’t every great brand have its own blend of gourmet coffee?

• Proceeds from Davis’ book “Leading for Growth. How Umpqua Bank Got Cool And Created A Culture of Greatness”go to charity.

• They invented a way to measure customer satisfaction. As Fast Company Magazine put it: Umpqua Bank has a rigorous service culture where every branch and each employee gets measured on how well they deliver on what they call “return on quality.”

• They embrace design as a strategic advantage. At Umpqua branches, everything looks good, feels good, and even smells good!  It’s the polar opposite of a crusty old bank. It’s a pleasing environment, which makes an unpleasant chore much nicer.

• Davis GETS IT. He knows, intuitively, that his brand is connected to their corporate culture. “Banking executives always ask, ‘How do you get your people to do that?’ It’s the culture we’ve built over the last 10 years. It doesn’t just happen. You don’t wake up one day and say, gee, look at this great culture we’ve got here. Our culture is our single biggest asset, hands down.”

Umpqua-bank-interactive• He’s a great communicator. Davis doesn’t use banking stats to motivate and persuade. He uses stories, analogies and real world examples.

• He embraces the idea of a big hairy audacious goal. In fact, everyone answers the phone “Thank you for calling Umpqua Bank, the world’s greatest bank.”

So the next time I’m looking for inspiration, maybe I’ll skip my usual haunts and head down to the bank for a cup of coffee.

For more inspiration, try THIS post.

For inspiration regarding your own marketing efforts, call me at BNBranding.