Right this moment’s Manufacturers Want Heroic Credibility
Consumers distrust curated media and traditional marketing. They want to make their own decisions based on raw footage, real-time updates and unfiltered live streams. You don't want the polished media release, the staged press conference and the practiced answers.
Then how do brands win consumer trust?
The answer: heroic credibility. Consumers are ready to follow brands that have real values. Heroic credibility speaks to the willingness of brands and executives to make bold statements that clearly and unequivocally state their philosophy and values and then refuse to step down in the face of criticism from the inevitable, social media-driven wolf pack.
Heroic credibility is about value-based leadership. It is the belief that companies need to do more than just meet the financial goals of their owners or shareholders. In line with the 2019 Business Roundtable's Statement of Corporate Purpose, companies have a responsibility to invest in their people, to deal ethically and fairly with their suppliers, and to support the communities in which they do business. Heroic credibility takes the concept of stakeholder responsibility one step further. Heroic credibility is the belief that businesses must be driven by a set of values.
Core values show the way
On Black Friday, November 25, 2018, outdoor apparel maker Patagonia did something it had never done before. It donated ALL sales for that day, one of the busiest shopping days of the year, to environmental causes. Revenue for that one day was over $ 10 million, five times more than the normal trading day. But Rose Marcario, then President of Patagonia, was neither surprised nor worried. She was rather excited because she believed that many of the customers were new to Patagonia that day and had decided to buy the brand after hearing that Patagonia had sued the Trump administration for their intent to reduce the size of the Bears Ears and Grand Reduce Staircase Escalante National Monuments in Utah.
Why did Patagonia decide to sue the federal government – a downright strange move for a clothing company? Because one of his core values is: "Use business to promote nature."
Patagonia firmly believes in something beyond financial growth, as founder Yvon Chouinard has often said. "We're in business to save our home planet." Patagonia's vision is to educate consumers about what quality looks like, how responsible garments are made and how consumers can be stewards of the earth and its belongings. All of the brand's actions and products are based on a number of values that go beyond the narrow confines of their product category. Patagonia has been on the lists of the most respected companies and most innovative brands for several years because it has always lived its mission statement. Patagonia is heroic credibility.
Patagonia decided to publicize its lawsuit against the federal government over Bears Ears and Grand Staircase-Escalante National Monuments by putting up billboards and running print ads saying "The President Stole Your Land". It wasn't a PR stunt. It was an expression of the brand's core values and while it sparked political controversy and caused a social media frenzy, Patagonia never flinched. And customers were thrilled because the brand demonstrated its values - and the values of its customers.
When your branding promotions align with your branding purpose and values, consumers will trust you and feel committed to your brand. They will proudly wear your logo and be a brand ambassador.
Viewpoints need to transmit your brand DNA
However, if you have any social or political positions that are not deeply ingrained in your brand's DNA, then take care. Case in point: In February 2018, DICK & # 39; s Sporting Goods decided to remove all AR platform rifles from stores because the CEO expressed his condolences to the victims of the tragic shootings in Parkland, Florida (the deadliest shooting in high school in the history of the USA) wanted to show. While it was a compassionate act, it wasn't tied to the brand's values (in fact, some argued the sports store had no defined values) and consumers punished the brand. In the months that followed, DICK lost $ 150 million, and even a year later, it was still feeling the effects ($ 154 million in sales down and $ 51 million in sales).
Brands that focus on the values of their customers find committed and trustworthy customers. However, do not cross the very thick line that separates authentic values from moralization on issues over which you have no authority. If you push your limits and tell customers what to think of problems you can't own, customers will turn you on – just like with DICK's sporting goods.
In addition to attracting and retaining committed customers, a strongly value-oriented business also attracts the best talent. In 2018, Mercer, the world's largest recruitment firm, identified three factors that both applicants and employees expect from a company. The third most important factor (after flexibility in the workplace and commitment to health and wellbeing) was "the desire to work with a purpose". The Mercer study found that "focused work increases employee motivation, productivity, morale and general job satisfaction". In fact, "thriving employees are three times more likely to work for a company with a strong sense of purpose."
Value-based work is also high on Millennials' wish-lists for what to expect from their employer or potential employer. According to the 2018 Deloitte Millennial Survey, employers who “proactively have a positive impact on society” ranked second only to “better financial rewards and benefits”.
Contribution to brand strategy Insider By: Paul Leinberger and Stephen Denny, authors of the new book Unfiltered Marketing: 5 Rules for Regaining Trust, Credibility and Customers in a Digitally Distracted World (Career Press)
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