Every company wants to build brands that click with customers and stand for something special in the marketplace. This applies to the wine industry as well. According to William C. Taylor and Polly LaBarre authors of Mavericks at Work, you can’t build something special with the same old ideas about designing products, delivering service, and crafting messages. As you evaluate how your brands stack up, ask whether you’ve mastered the five new building blocks of marketing.
There’s always a demand for something distinctive. Even in the most crowded markets, there’s room for an innovator with something original to offer and something authentic to say. The challenge: how do you make a compelling offer to customers who already have more than enough of what you’re selling?
Not all customers are created equal. If your goal is to establish a psychological contract with customers, then almost by definition you won’t appeal to all customers.
Brand is culture, culture is brand. There is a direct connection between a company’s identity in the marketplace (how it relates to customers) and its performance in the workplace (how it relates to employees).
Advertising to customers is not the same as connecting with customers. If you want customers to invest in and talk about your brand, then invest time and money in developing products worth talking about in the first place.
When it comes to creating brand value, dollars-and-cents thinking doesn’t always make sense. Many companies try to outsmart their customers, to figure out angles to get more out of them. Better to figure out how to give more to your customers. The goal is to maximise the value of your connections with customers, not to minimise expenses.
Source: Mavericks at Work, by William C. Taylor & Polly LaBarre.