brand-promise

Brand Promise And Why It Matters In Business

A brand promise is usually one or two sentences that accurately communicates what a consumer should expect when interacting with a brand. When a business creates a brand promise, it is making a declaration of assurance. Brand promises are often seen as extensions of brand positioning statements that explain why a business exists. A brand promise then tells the consumer how a product is service is better than those of a competitor. 

Understanding brand promise

Brand promises can be overt in nature – with courier company FedEx being a prime example. The company motto “when it absolutely, positively has to get there overnight” is a public promise which the company has never compromised.

Brand promises can also be less overt. McDonald’s delivers on familiar, consistent, and affordable meals without incorporating making specific promises around these characteristics. Instead, the brand promise of McDonald’s is the less tangible ability to help families take the guesswork out of choosing a restaurant.

Three steps to creating a successful brand promise

1. Define the promise

The most successful brand promises will combine the personality, mission statement, values, and USP of a business into a succinct and deliverable package.

Combining these important elements ensures that a business creates a brand promise that is not only authentic but unique. 

Here, the brand promise should be written down for clarity. But the promise itself must also be present in a less tangible form. That is, the promise should be reflected in every aspect of internal and external business culture.

2. Deliver the promise

Next, determine how the promise might be delivered. FedEx’s promise of overnight delivery seems simplistic on paper, but tremendous buy-in from employees and other relevant stakeholders is consistently required to make this promise unbreakable. 

At this step, it’s important to remember that cutting corners and making promises do not mix. Businesses who promise to prioritize consumer needs without first determining what they need are doomed to failure.

3. Track and adjust performance where necessary.

While it is true that there is some degree of art in developing a brand, businesses still need a trackable strategy in place. Engagement metrics will provide clear insights on whether a brand is resonating with its audience or whether marketing needs to reconsider its approach.

Surveys and questionnaires are also a great way of determining whether consumers understand a brand. Indeed, carefully worded questions can reveal a range of insights around the credibility and authenticity of a brand promise.

Some more examples of companies with successful brand promises

  • Apple – who give consumers a chance to own the trendiest, sleekest, and most technologically advanced electronics.
  • Lynda.com – offering affordable and convenient high-quality training on a range of topics.
  • Nike – with an all-encompassing promise to bring inspiration and innovation to world athletes. 
  • Coca-Cola – whose beverages promise to instill a mindset of fun and optimism through refreshing and uplifting experiences.

Key takeaways:

  • Brand promises set expectations for the business to consumer relationship. The promise should permeate every aspect of a business and be authentic, unique, and consistent.
  • Brand promises can be tangible and overt in the sense that they are explicitly stated. But they can also encapsulate specific experiences that consumers come to expect when interacting with an organization.
  • To develop a brand promise, businesses must combine aspects of their values, mission statement, values, and USP. Importantly, there must be no potential for the promise to be broken through inadequate due diligence or a lack of employee buy-in.

Other related key concepts connected to branding

Create brand awareness

brand-awareness
Brand awareness is a measure of how familiar a customer is with a brand. The greater the brand awareness a business enjoys, the more their products and services are recognizable to their target audience, thus, in theory, augmenting its long-term strength on the marketplace. Brand awareness is a key element of an effective marketing strategy.

Over time, build up brand equity, one of your most important assets

what-is-brand-equity
Brand equity is the premium that a customer is willing to pay for a product that has all the objective characteristics of existing alternatives, thus, making it different in terms of perception. The premium on seemingly equal products and quality is attributable to its brand equity.

Position your company and product so that people can identify with your brand

brand-positioning
Brand positioning is about creating a mental real estate in the mind of the target market. If successful, brand positioning allows a business to gain a competitive advantage. And it also works as a switching cost in favor of the brand. Consumers recognizing a brand might be less prone to switch to another brand.

Define your ideal customers and work hard to get them

marketing-personas
Marketing personas give businesses a general overview of key segments of their target audience and how these segments interact with their brand. Marketing personas are based on the data of an ideal, fictional customer whose characteristics, needs, and motivations are representative of a broader market segment.

Communicate what makes your product unique to generate a strong commercial use case

unique-selling-proposition
A unique selling proposition (USP) enables a business to differentiate itself from its competitors. Importantly, a USP enables a business to stand for something that they, in turn, become known among consumers. A strong and recognizable USP is crucial to operating successfully in competitive markets.

Tell your business story, and make it part of your offering and philosophy

business-storytelling
Business storytelling is a critical part of developing a business model. Indeed, the way you frame the story of your organization will influence its brand in the long-term. That’s because your brand story is tied to your brand identity, and it enables people to identify with a company.

Read Next: Brand Building

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Published by

Gennaro Cuofano

Gennaro is the creator of FourWeekMBA which target is to reach over two million business students, executives, and aspiring entrepreneurs in 2020 alone | He is also Head of Business Development for a high-tech startup, which he helped grow at double-digit rate | Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy | Visit The FourWeekMBA BizSchool | Or Get in touch with Gennaro here