Richard Gourlay provides advice and support for business leaders to grow and develop their business.

The power of WHY to consumers

 Will they BUY? 

In the old days people used to buy what companies did, what they made, where they sold it and bought what they promoted.  That was the age of big marketing and sales budgets, when big adverts worked, by driving demand through pushing products down channels, offering promotion and celebrity endorsement to generate business.

The age of the Unique Selling Proposition ‘we are special because….. so you will buy’! It was the 1980 and 1990’s so the world did as it was told: “we make what you want because we tell you want you want because we know about your needs”.  This relied upon trust in a brand by the public, which in a pre-internet world gave the control of information to the brands.

Trust, the intangible combination of character and competence which all successful brands must develop and sustain is mad cup of a whole series of elements itemised below.  The importance of ethics in today’s business are essential characteristics which purchasers expect their brand to portray in all their activities. That makes it a key priority for leaders’ to focus on within their role.

 

Honest is essential

Then ethics came into play, as the age of information came into play in the early years of the new millennium. As the internet began its infancy, the power of globalisation was laid bare by the internet. People asked more about how companies did things? Where were products sourced and how became important. Why were the premium footballs, such as those which David Beckham kicked, being made by blind children in India for a few rupees. Why were the clothes models wore being made in sweat shops where workers earned less than for a dollar a day?

The internet changed how the media could communicate, explaining how household names operated and could afford those huge marketing budgets. This forced companies to change their practises (and their internal policies) by educating and fighting back against the likes of Naomi Wolfs’ No Logo expose for example.  The brands who recognised that they could no longer hide their activities became more open and honest and developed trust, while those which did not, suffered public shaming and demise.

How business operated mattered, and so in response companies upped their awareness of their social impact and visibility through corporate social responsibility. How people did things mattered not just when the likes of Bhopal and Exxon Valdez disasters struck, but in everyday life.

Fair-trade has become a household name in consumer goods, with high street stores vying for credibility of having an ethical policy, supporting local goods and having transparent policies of how they operate. This gives more confidence but leaves companies open to further scrutiny and often to unsatisfactory answers to vital key questions, not at least within developing countries, who are now the fastest growing emerging markets for many brands.

Ethically; should I buy from you?

The biggest question which consumers and business now asks people is why businesses are doing these things.  Everyone has become so empowered with information sources that people want to buy the WHY, not the what. Buyers want to understand the ethics of the company and importantly the people behind the decisions it takes. Customers want to know that these decisions accurately reflect the real cultural and values that company has, not just the marketing hype, which the brand portrays. Today this is the real power of the internet.

What’s the real purpose of the company, who and what is driving it and what does it really believe in and stand for. No longer is a small donation to a local charity enough to say it supports the community, customers want to know how much, who gets involved, is it company wide and deep or just a year-end tax saving. In today’s world the importance of ethics in today’s business cannot be understated for leaders to focus upon in their role.

Ethical Values Being Lived

In fact the world has changed completely, confidence comes not from what you say but why you are saying it. The educated and informed world means that it’s not just politicians who have seen their reputation tarnished but any business in any sector who does not explain it why factor.

It snot just whistle blowers who expose mal-practice in today’s world, everyone is communicating through so many channels, from traditional word of mouth, through social media and beyond into a connected world, where reputations must be transparent. As everyone’s voice matters, being ethically transparent, open and honest is now essential if a brand is to be trusted.

Winning customers is no longer all leaders have to focus on. Finding talented staff, channels partners and customers is now a multifaceted challenge for leaders to deal with. Ethical short-cuts damage brands reputation and those damaging allegations now stick, and become magnified to stakeholders as statements are now online, like a bad trip advisor review, it never goes. A tarnished reputation is exactly that.

No matter what sector you are in, understanding the still emerging power of the internet in sustaining your reputation is essential and never more so than in explaining why you are in business and why you matter. The importance of ethics in today’s business has never been so important to establish and maintain.

Like to learn more, then contact us at Cowden Consulting or see our website or social media channels for more about Cowden Consulting:-

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Our services: business planning, strategic planning, business development, strategic marketing, Return on Investment, director development, director mentoring.

Cowden Consulting works with business leaders throughout the UK to improve their business.

Dyson strategy to outcompete the competition

What Makes a Great Brand (Part 2)

Clear Brand Strategy

Being clear and precise is also important in the company’s messages for a brand to succeed, a strong undiluted brand message must enthuse internally but must also consistently connect with customers through touch points, look at Innocent, Dorset Cereals or Apple as classic examples of touch point. They also demonstrate a clear story delivered with passion about who they are what they do and why they matter. This focused and consistent message is not just a marketing message but an ingrained set of values which consumers buy into with passion. These brands not only position themselves as premium players in their fields and earn more but they also continuously find new ways to spread their key messages to customers, they have a clear brand strategy to achieve it.

Everyone Lives the Brand

Another vital aspect of any brand success is that the people within that brand demonstrate what they preach, they live that lifestyle, support that brand and contribute to its success. It is their lifestyle, it is a part of the way they and their brand do business.
 Great brands go beyond the brand to understand its real value to existing customers but also to tomorrow’s customers.  Whether it is a family run local shop or a global supermarket chain great brands position themselves so they develop and hold a market position to develop long-term success.

Great Brands

Great brands also develop their own uniqueness, not just the product or service but the whole package is how we do it around here. There needs to be not only consistency but the brand hand writing and value on how they do it. The best brands always develop singular simple signals for customers, cutting through jargon to create clarity without patronisation.
For brands to succeed in today’s global markets these golden rules have never been more important as consumers have never had so much information, but if you follow these simple rules of brand success you can develop and maintain a great brand.

Looking for Advice 

If you want to develop your company’s brand and are looking for some advice on developing your company, its marketing, its sustainable competitive advantage then contact us at Cowden Consulting to see how we can assist you, or read more about us in this blog or at Cowden Consulting.