Need a new plan for 2020 or preparing for 2021? Consider a virtual planning session. Explore Your Options
Watch Demo

Rhythm Strategy Execution Software - Think About Your Brand Promise Guarantee

By Ryan Walcott

    Wed, Oct 16, 2013 @ 10:30 AM Strategies for Growth, Strategy Execution

    Want to turbo-charge your sales?  Then, read this blog and get to work on a Brand Promise Guarantee!

    Your Brand Promise is what sets you apart from your competitors.  It is the thing about you that makes you different in the marketplace that your customers value.  Having the right Brand Promise will help you win more of the RIGHT customers and keep the ones you love by helping you focus on HOW you sell your WHAT to your WHO.

    The Brand Promise Guarantee helps a new customer try you if they don’t know you yet.  The Guarantee reduces the risk the customer experiences when they buy from you for the first time.

    The right Brand Promise Guarantee will shift the risk from the customer to you in order to help you win their trust.  These are NOT safe ideas.  In fact, you may feel your stomach turning at first when you discuss and determine your Guarantee.

    Rhythm 2.0 has a new collection of Brand Promise screens to help you determine the right answers to these questions.  We included a new screen specifically designed to help you work on a Brand Promise Guarantee that will help you win more of the RIGHT customers.

    The new screen helps you think on a Brand Promise Guarantee by prompting you with key test questions that you must consider and answer in order to ensure you have an effective Guarantee.

    •Does the Guarantee make us Different from our competitors?

    •How does it Hurt us?

    •How does it Improve us?

    •Does it Help Close Sales?

    The example on the screen image below is the Brand Promise Guarantee of Hyundai Motors during the beginning of the Great Recession.

     

    Rhythm 2.0   Think About Your Brand Promise Guarantee

     

    Hyundai did something that was bold and that no other automaker dared to do.  They shifted the risk of buying their cars from the customer to themselves by guaranteeing that they would take the car back and the customer could stop payments if the customer lost their job.

    Wow!  That’s an amazing guarantee to offer in the middle of the worst recession since the Great Depression.  What Hyundai did was challenge the assumption that people didn’t want to buy cars.  People actually did want to buy cars, they were just afraid to do it because they weren’t sure if they would be keeping their jobs and income.  Hyundai’s Guarantee removed that fear and opened the door to sales that they would not have achieved without it.

    So let’s examine Hyundai’s offer to see if it passes the criteria for a good Brand Promise Guarantee:

    •Did it make them Different from their competitors?  

    ⁃Yes! Many other automakers were looking for bailouts and would not dare make such an offer.

    •How could it Hurt them?

    ⁃Cars could come back and revenues could be lost.

    •How did it Improve them?

    ⁃It helped them become a stronger brand by building brand awareness during a tough economic time.

    •Did it help them Close Sales?

    ⁃Yes!  Their sales grew while other automakers were closing dealerships.

    So, where do you go from here?  Think and work on your Brand Promise with your team and your Rhythm Coach.  Record your work in the Rhythm software and collaborate with your team and coach using the comments area to keep your conversations going even outside of your face-to-face times together.

    Determine a Brand Promise that will attract new customers and help you keep the ones you love.

    Craft a Brand Promise Guarantee that will shift the risk of buying from the customer to you to help you close more sales and grow your business.

    It may be painful at first, but doing this will make you stronger and will set you apart from your competitors.

    Helping you grow,

    Ryan

     Rhythm Systems Brand Promise Tool

     

    Rhythm Systems Business Blog Subscription

     

    Define Your Core Customer to Develop a Winning Brand Promise (Video)

    Who Is Your Core Customer? (Video)

    Are Your Customers Happy? 8 Customer KPI Examples

    Execute for Your Core Customer

    Defining your Brand Promise

    Brand Promise Examples

    Comments