What Type of Bank Account is your Brand?
Actions and behaviours are all part of creating consistency in your brand.
Building trust and loyalty with your customers can be as simple as applying some basic principles for your business.
Steve Jobs, one of the most successful entrepreneurs in history, is renowned for building Apple into one of the world’s most recognisable and valuable brands.
In an interview, recently shared by Robert Grow on Instagram, Jobs shared his insight on what he referred to as, Brand Bank Accounts, and how these simple approaches are invaluable for any business aspiring to achieve similar heights of success.
Jobs’ described that he saw Brands as one simple thing, TRUST. That customers trust YOU (your brand).
As a result, he described how he viewed Brands in a similar fashion to bank accounts, having both Deposits and Withdrawals, and that these were dependent on what experience a customer has.
So, if a customer has a GREAT experience, they buy your product or service and LOVE it, that’s a DEPOSIT into your BRAND account.
In a customers mind, if they buy something, and they have a BAD experience, then it’s a WITHDRAWAL.
If you have a good brand it means that people are TRUSTING you to make GREAT products or services and to give them a GREAT experience, and if something goes wrong, to take care them.
Work on providing customers GREAT products, services and experiences .
Jobs went on to say that’s what Apple try to do. They focus on the basics, about how they can make the best products in the world, how they make the best buying experience in the world, and if something goes wrong, how do they service the customer in 24 hours instead of week? So fundamentally, how do they take care of their customers and provide the best customer service in the world too?
Jobs’ belief was simply, if they do that, then customers will have GREAT experiences with both their product AND their BRAND.
Customers then TRUST it and in return, their brand is GREAT in the customers’ mind.
Trust and Brand equity are essential for success.
Businesses that both understand and prioritise building and maintaining strong Brand Bank accounts will be better positioned to attract and retain customers and build lasting relationships.
If you would like to discuss with us how to start building your Brand Bank account then we’d love to start work on building your Deposits!
By refining your customer experiences, developing a customer-centric culture, and not just listening to customer feedback, but acting upon it, you can earn and continually develop the TRUST of your customers and build a successful brand.
Contact us today to find out how to maximise your Brand DEPOSITS and minimise your WITHDRAWALS.
Related Posts
Your Logo is Not Your Brand
Your brand identity is what connects you to your customers. It is far more than just having a logo to use.
Empathy: A Skill for Leaders.
Help demonstrate empathy to team members:Put yourself in their shoes.Show care + concern.Acknowledge their feelings.Ask questions.Don’t judge.Show emotional support.Let’s lead with heart and purpose.
Branding a Person
Questions like ‘Why Do I Exist’, ’What Future Do I Want to Help Create’ demand a level of thinking that affects us on a very intimate level.