In today's world, brands that connect with consumers on the basis of beliefs and trust will outperform those that remain fixated on attributes and benefits.
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How beliefs and trust drive branding and buying decisions
1. HOW BELIEFS AND TRUST DRIVE
BRANDING AND BUYING
Barry Gesserman, President
BirthAgent Marketing, LLC
2. Premise
• The ‘recovery’ may never come.
• Deeper marketing framework needed.
• You must act.
• What you can do.
3. Buying has always been about needs,
wants and solutions to problems.
Traditional approach Alternative approach
• Communicate benefits, • Leverage beliefs to
supported by gain trust and build an
attributes, desired by enduring relationship
the target market. with your customers.
4. Buying has never been about data and
claims, especially now.
Information has its limits.
• Too much….. overwhelms us.
• Contradictory…. confuses us.
• Claims lack credibility.
Tommy’s Toyota #1
in the Delaware Valley!
5. Beliefs drive how we process information.
Based on
• Our own experiences, bias or self-interest
• The experiences of friends and family
• Social media & reviews
• What others believe
• What others will think
Established beliefs enable us to function.
• A framework of understanding.
• Make decisions efficiently.
• Reduce risk or optimize outcome.
6. Our beliefs, not information,
drive our politics
• ObamaCare
• Global warming
• Keystone Oil Pipeline
• Raising taxes
• Teachers’ Unions
• Stimulus spending
• Government regulation of Wall Street
• Solar Energy
• Fracking
• High speed rail
Whom do you trust? Why?
7. How do your beliefs influence your buying
behavior?
• Japanese vs. American brand cars
• Store brand vs. national brands
• HUP vs. St Mary’s vs. Abington Hospitals
• Comcast vs. Verizon
• Big banks vs. local banks
• Horizon Services vs. local HVAC
• Anderson windows vs. local dealer
Whom do you trust? Why?
8. Buying is an emotional decision
based primarily on Trust
The value of Trust When you share
your brand is a your beliefs, you
function of trust. build trust,
because your
beliefs reveal
Information your motives.
Beliefs
9. Trust is creating the expectation that your
brand will deliver at the moment of truth…
When
• The insurance company handles your claim
• You open the jar of pickles
• The dry cleaner returns your shirts lightly starched
• The AC unit lasts 15 years
• The dealer takes back leased car without charging for dings
• The jury delivers the verdict
• The IRS audits your firm
• The search results deliver what you want
• You fix or make good on a promise undelivered
10. Your Value Proposition:
Why People Do Business with You
Brand Positioning
Trust
Core
Beliefs
Authentic core beliefs enable and empower performance that delivers at the
moment of truth to engender trust and support the brand positioning.
11. Your Brand Positioning:
an Identity, not just a logo or slogan.
• Know whom you serve,
• the unique value you offer them,
• and communicate this effectively.
12. A brand that captures Belief and Trust will outperform
one that depends solely on Attributes and Benefits.
Brand positioning: Volvo is the safest car you can drive
• Traditional Brand Platform
• Target: higher income, suburban families with kids
• Attributes: steel frame, sturdy construction, more air bags
• Benefit: safety for your loved ones- survive a crash
• Alternative Approach
• Target: Drivers who are primarily concerned about safety
• Belief: Volvo’s commitment to and expertise in auto safety is
unmatched in the industry
• Trust: Volvo is a car that will get me there safely.
13. The Basis of Trust: Warmth & Competence
People were the first • What are your
brands, faces the first intentions towards me?
logos. Friend or Foe?
Warmth
• Ability to carry out
intentions?
Strong or Weak?
Competence
Relational Capital Group, Chris Malone
14. Trust in Brands mimics trust in People
Relational Capital Group, Chris Malone
15. Matt Fisher vs. Progressive Insurance
Matt’s sister, Katie, was
killed in an auto accident in
2010 by a driver who ran a
red light.
17. To build trust, tell them why you do what
you do and live it daily. Authentically.
• Personal passion
• Motivation
• Principles
• Infusing this spirit in your employees
• Turning the ‘personal why’ into the ‘corporate why’
18. Steve Job’s Personal Why
• Believed there was a
better, more elegant
way.
• Attracted idiosyncratic
artisans to work there.
• Delivered easy to use,
beautifully designed
products.
19. Tony Hsieh’s Personal Why
• Believed buying shoes
online could be a
superior shopping
experience.
• Hired people who
loved shoes and
helping customers.
• Earned trust with 365
day return policy.
20. John Mackey’s Personal Why
• Believes that
supermarket food
should be healthy, safe
and delicious.
• Attracts employees
and shoppers who
hold same belief, and
can afford the price.
• Created a superior in
store experience.
21. Brandon Cook with his
grandmother, dying of
cancer, called Suzanne
Fortier at local Panera
Bread in Wilton, NH for
some clam chowder.
We are bakers of bread.
We are fresh from the oven.
We are a symbol of warmth and welcome.
We are a simple pleasure, honest and genuine.
We are a life story told over dinner.
We are a long lunch with an old friend.
We are your weekday morning ritual.
We are the soft doughy insides and the
crunchy crust.
We are the kindest gesture of neighbors.
We are home. We are family. We are friends.
We are Panera. 500,000 likes on his mother’s page.
22,000 comments on Panera page.
22. Why I lease Subaru’s
• Subaru makes the best all
wheel drive vehicle.
Trust • Rafferty Subaru is a fair,
competent dealer.
• Subaru has always made
only all wheel drive vehicles.
Information • I am an aggressive driver.
• Style sufficiently attractive.
• All wheel drive provides
better traction and safety in
Beliefs rain and snow.
• A company who makes only
AWD vehicles will do it best.
23. How to build trust…… and sales
Elements of competency Elements of warmth
• Whom do you serve? • Persona/Style
• What do you do well? • Physical presence
• Narrow your focus? • Behaviors
• Specialization • Transparency
• Product differentiation • Availability
• Scale • Caring Culture
• Skilled labor • Helping, not selling
• Technology • Your story/personal why
• Geography • The corporate why