If you are an entrepreneur, this is information you should etch on your hearts. So, the past week I observed some complaints in the business sphere. Clients coming online(Twitter precisely) to call out brands they patronized because they compromised on quality and brand promises. Some things you should know
- A brand is a promise; the values and promises consumer buys into. It distinguishes your organization, product or services from your competition in the eyes of customers.
- A client takes a chance on a startup based on an untested brand promise and the determinant of loyalty is based on results delivered.
- Branding doesn’t make up for inefficiency, lack of skill or dishonesty. It may attract but it won’t sustain clients.
Except it is a non-profit organization, businesses are set up with profit in mind. Profit is an integral part of a business, it is necessary for the survival of businesses. Yes! But when the knowledge is placed above offering value and delivering on the promises your business offers then it is just an organization building a house of cards, it is bound to collapse. Focusing absolutely on profit at any cost would eventually destroy your brand reputation and business eventually. Consistent delivery of values your brand offers would bring about consistent profit and long term brand loyalty from your customers.
Start-ups can not afford not to deliver, your new company can not afford to be found wanting. At this point of your business, your delivery on brand promise is your greatest marketing strategy, you need to show your clients you can be trusted, that trust is not just a mission statement on your company’s profile. large profit margin can be tempting but at what cost?
5 Core Principles for Start-ups
1. Be Consistent with Quality Promised
One of the issues that led to a brand being called out on twitter was the case of a business using inferior material for a product that enough money has been collected to use quality material. This act might get you that large profit for this business deal but your reputation gets ruined, you can always make a profit but a ruined reputation, well it is a ruined reputation.
2. Always Revert to Your Brand Promises
It’s like setting goals and outlining step by step how you would achieve them. In the cause of the time, it would take to achieve these goals you would have to go through it constantly to make sure you are on track. the same thing applies to your brand promise, you have to constantly refer to them to ensure you are delivering. A customer is patronizing you for a particular/some reason(s). Knowing what this may be and satisfying it should be your primary focus. This ensures repeat clients.
3. Build a Name Through Integrity
“Your reputation and integrity are everything. Follow through on what you say you’re going to do. Your credibility can only be built over time, and it is built from the history of your words and actions.”Maria Razumich-Zec
Freshbooks.com has this to say, “In fact, if you Google the word integrity, it comes with many definitions; but the meaning boils down to the same result. Integrity equates to trust. If you can’t trust a company, why on earth would you bother doing business with them?
That’s why operating with integrity is so vital for a business today. With the rise of technology came the rise of greater transparency. Businesses who failed to be transparent in their dealings with the public, or did not deliver on their promises to customers and clients, found themselves getting reamed on the web.
The second a new potential customer or client Googles the name of your company and finds poor reviews extolling how other clients trusted you and were let down, is the same second you lost that new potential customer to someone else. All because of trust and integrity. Some businesses have it. Some don’t. Be one of the ones who have it.”
If your startup is perceived as lacking business integrity, it is as good as being dead on arrival. As in other relationships, trust is necessary for business.
ALSO READ: HOW TO CREATE VIDEO ADS WORTH REMEMBERING
4. Learn to Collaborate
There seems to be the wrong notion that you must be the one to satisfy every detail of a business deal. You would only get overwhelmed. If a request is made for 1000 products and you don’t have the capacity to deliver on the quality you promise, nothing stops you from outsourcing the production, collaborate with a similar business that can handle what you can not handle. The customer knows you handled the request, the customer is satisfied and repeat business is ensured.
5. Birth Loyalist
I learned in my customer care experience and my observation of businesses in general that a repeat client is what sustains a business. You might say you can strive for new customers but the truth is brand loyalist keeps your business economy stable and they are your brand ambassador. A lot of new clients would come in because of their testimonies. Applying the first four principles would ensure you get brand loyalist and this forms your community. They are absolutely important for your business growth. If a time comes when an error is made by your organization and you are sincere in addressing this error they would be the ones to tell of your consistency up until that moment. They would be key players in saving your business reputation.
Technology has enabled some businesses to put a front that has no substance in terms of brand promises, a lot of businesses cut corners and cheat to gain large profit. Trust and honesty is now something to make our core values resonate with prospective clients without the intention of delivery. This same technology is ensuring transparency, the world is a global village and information travels faster than ever before and stays longer. You can not afford for your business reputation to be in tatters because you failed to deliver on the brand promise.
I would love to hear how you have been able to deliver on the brand promise. What does business integrity mean to you, is it entirely possible in business?
