HOW BELIEFS AND TRUST DRIVE BRANDING AND BUYING

Barry Gesserman, PresidentBirthAgent Marketing, LLC

Premise

• The ‘recovery’ may never come.• Deeper marketing framework needed.• You must act.• What you can do.

Buying has always been about needs, wants and solutions to problems.Traditional approach• Communicate benefits, supported by attributes, desired by the target market.

Alternative approach• Leverage beliefs to gain trust and build an enduring relationship with your customers.

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 #1in the Delaware Valley!

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.

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?

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?

Buying is an emotional decision based primarily on Trust

Information

Trust

Beliefs

The value of your brand is a function of trust.

When you share your beliefs, you build trust, because your beliefs reveal your motives.

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

Your Value Proposition:Why People Do Business with You

Trust

Core Beliefs

Brand Positioning

Authentic core beliefs enable and empower performance that delivers at the moment of truth to engender trust and support the brand positioning.

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.

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.

The Basis of Trust: Warmth & Competence

People were the first brands, faces the first logos.

• What are your intentions towards me?

Friend or Foe?Warmth

• Ability to carry out intentions?

Strong or Weak?Competence

Relational Capital Group, Chris Malone

Trust in Brands mimics trust in People

Relational Capital Group, Chris Malone

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.

Would this little guy turn on you?

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’

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.

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.

John Mackey’s Personal Why• Believes that supermarket food should be healthy, safeand delicious.

• Attracts employees and shoppers who hold same belief, and can afford the price.

• Created a superior in store experience.

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.

Why I lease Subaru’s

Information

Trust

Beliefs

• Subaru makes the best all wheel drive vehicle.

• Rafferty Subaru is a fair, competent dealer.

• All wheel drive provides better traction and safety in rain and snow.

• A company who makes only AWD vehicles will do it best.

• Subaru has always made only all wheel drive vehicles.

• I am an aggressive driver.• Style sufficiently attractive.

How to build trust…… and salesElements of competency

• Whom do you serve?• What do you do well?• Narrow your focus?• Specialization• Product differentiation• Scale• Skilled labor• Technology• Geography

Elements of warmth

• Persona/Style• Physical presence• Behaviors• Transparency• Availability• Caring Culture• Helping, not selling• Your story/personal why• The corporate why

Your Value Proposition:Why People Do Business with You

Trust

Brand Positioning

Core Beliefs

Thank you!• Barry Gesserman• BirthAgent Marketing, LLC• barry@birthagent.com• M: 610.304.2371