Is Your Brand Leading or Lagging
Have you ever asked yourself why one company got to be so large and successful and another didn’t? Both companies may have offered the same type of products and services and yet one excelled in the marketplace while the other had difficulty after difficulty. Why?
This past week, while writing a section for a brand engagement on Brands in Their Markets, I was very impressed by a major difference between leading vs. lagging brands. In this particular engagement, we found that the leading brands consistently kept their brand promises (or exceeded them), whereas the lagging brands routinely break them. In our business, that’s called positive vs. negative equity.
Sound too simple? As you might imagine, there are many ways to build a leading brand. Here are some time-tested ways:
1. Always meet or exceed your customer’s expectations. This seems so obvious, yet so many companies fail to live up to their stated mission and promises.