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Buzz, Gossip, and Reputation Public opinion, also known as buzz, gossip, or reputation, is
most effective and efficient means of business promotion. Word spreads on its own power. When people talk, people listen.
The key to long range business success is, then, to do everything possible to insure that
reputation of
business is, first, stellar, and then, familiar. By stellar we mean that
values of honesty, integrity and compassion function at every level of business operation. And by familiar we mean a matter of common or public knowledge. Don't be overwhelmed. The aim is not perfection, but maturity, in
same sense that maturity is valuable to personal development.
Any attempt to convey
impression of such values apart from actually incorporating them into
life and operation of a business will, in time, come to be understood by
public as deceitful, superficial and immature. All such efforts are harmful to a business because they contribute to negative buzz (a negative reputation), which is more harmful than no buzz at all. An unknown company has a better reputation than a company known for greedy and deceitful practices. And a company known for honesty, integrity and compassion will engender customer (or public) trust and loyalty over
long run.
Businesses not guided by long-range perspectives, values and goals actually harm themselves by delaying operational adjustments that will be increasingly difficult and costly to make. The least expensive way to do something is to do it right, because doing it over always increases expenses.
The Virtuous Cycle Advertising, marketing and public relations work best on this kind of foundation. When
substance of
campaign is actually in
best interests of
customer(s), people take notice. When
motives of a business transaction serve
success of
company and
well-being of its customer(s), a kind of business momentum known as a virtuous cycle is born.
A virtuous cycle is a kind of positive symbiosis, or mutually beneficial relationship between two entities. Here those entities are a business and its customers, or
public. James Surowiecki has written an interesting article on
virtuous cycle (http://www.forbes.com/work/free_forbes/2002/1223/248.html). While this article is about an historical virtuous cycle among Quaker businessmen, Quakerism is not necessary to such a cycle. However, a moral consensus among those involved in
cycle is necessary. Call it what you want, but it appears to be a kind of common faith, where
content of
faith is honesty, integrity and maturity.
It’s more than
stupid economy. Character not only counts, but adds up to sustainable profitability over time.
The ideal advertising or promotional campaign will employ
instruments of branding (logos, mottos and
like), not merely to create an impression or image in
minds of customers, but to allow
public to associate a particular business entity with high moral ground. The purpose is to remind
target audience of
character and principles of
business. Again, those characteristics and principles must first be in place.
Advertising Success Two things affect
success of such advertising campaigns in
marketplace. First,
public must share
values of
character and principles of
business to some degree. That consensus must be in place between
business and its customers. A side benefit pertains to
quality or character of
customers such a business will attract. Don't we want honest, mature customers?
The associations being suggested by a campaign must resonate as valuable and important to
target audience. And, second,
associations should involve more substance than image, more reality than perception. The idea is not to create an image, but to reveal a reality. Advertising and promotional campaigns should take
high road. They should endeavor to help businesses to actually occupy
high ground of honesty, integrity, character, industry and excellence, not to merely suggest them.
There is little value in simply knowing or communicating
name of a business. Rather,
purpose of a campaign should be to associate a business brand with its actual character and principles. This approach can be successful in
marketplace because character and principles are important values of human experience. And because they are already important to
majority of people, and important to
development of personal maturity, they will be recognized and remembered. Even when people don't practice such virtues themselves, they are valued for their inherent worthiness. People feel good about associating with worthy values.
Empty Advertising Of course, it is possible to generate
impression of business virtue apart from its reality. But over time, such an approach will produce a negative effect because people will discover
ruse. Lies universally generate hostility, even among thieves. No one appreciates a liar. People don't like being fooled. Consequently, businesses should concern themselves with getting their own houses in order, and on quality branding, prior to embarking on an advertising or promotional campaign.
It should also be noted that advertising and promotional campaigns can and should be used internally to encourage and reinforce
development of particular principles or values within a company. Such efforts often involve programs of workplace value enhancement. Certain behaviors can be encouraged through
use of incentive programs. Honesty and integrity can be rewarded within
company to encourage their adoption as company policy. Programs can be developed that will remind and encourage
kind of character and principles that a company would be proud to show to
public. And
public will be delighted to see them, and will reward such companies with business and loyalty.
Done right, advertising and promotional campaigns can build a profitable virtuous cycle between companies and customers. And they don't have to be loud and obnoxious.
©2003 Phillip A. Ross

Phillip A. Ross, entrepreneur, freelance writer and owner of Business Specialties (www.business-specialties.com), lives in Marietta, Ohio, and provides identity products and promotional services to position companies and organization for substantial success.