4.3 The Brand Promise is helping to attract the best customers in the market | Made to Thrive 25/34
Welcome to video 25 out of 34 two-minute videos detailing the key concepts in my new book, Made to Thrive.
Made to Thrive outlines the five key roles that a leader must undertake in order to transition from being a good leader to being a great leader.
Those five roles are accountability, ambassador, culture, strategy, and succession planning.
Today we’re talking about strategy, and in particular 4.3, ideal customer needs are identified and the brand promise is helping to attract the best customers in the market.
If you try to be everything to everyone you end up being nothing to no one.
There are three main stages as you grow a business.
The first is zero to one million dollars. And that is a desperate scramble to get revenue from anywhere.
Then you’ve got one million to 10 million. And that’s a scramble to get net profit because net profit is offset by the investments that you need to make in the business in roles such as leadership positions, sales managers, or senior accountants.
Over $10 million the challenge becomes gross profit. And that’s because the market, unless you are unique and valuable, will begin to commoditize your offering.
As you grow through each of those revenue levels and meet each of those challenges having a brand promise that meets the needs of your ideal customers is really important.
Because that’s gonna separate the good from the bad. I’m sure that you’ve got customers you’d never want to deal with again, even if you’re under a million and it’s a scramble for revenue.
But, equally, I’m sure that there are customers that you would love to replicate. You’d love to get more of those customers.
Well, a great brand promise will help you to get more of those customers because it meets the need of those customers.
Your brand promise should be compelling for your ideal customers, but equally maybe elicit a negative response in some other customers, the customers that you’d never want to deal with again.
If you’d like to learn more about Made to Thrive you can watch all of these videos on YouTube. Or you can buy the book on Amazon. And I’ll put the links below for both of those.
Learn where to order Made to Thrive below