08.29.06
The Power of Brand Loyalty
Everybody loves the story of David and Goliath mainly because it’s the triumph of the underdog over the giant. It is also true in big business. Whenever you hear stories of the underdog challenging – and doing it effectively – the big guys, you can’t help but find yourself rooting for them. Then, you ask yourself, how do they do it?
Craigslist, Mozilla, Pom Wonderful, Travelzoo and countless other continue to challenge their larger competitors and remain a constant thorn-in-their-side. They have done it largely by building formidable brand power through a dedicated group of clients/customers who remain loyal and steadfast.
They have done that by keeping an open dialogue with their customers/clients. They want to know what their clients/customers want and have worked diligently to provide it. Secondly, these small but mighty challengers have developed products and/or services that define their market. Their name has become synonymous with the market they now define. Finally, good management, dedicated planning, and sound execution brought their ideas to fruition. The old adage, “its all in the execution” definitely applies.
So, if you are starting out, listen to your customers, find creative ways to meet their needs, and develop a realistic, executable plan to deliver it. If you can effectively do that, your business is bound to be a success.
Quote of the Day from Ghandi: “First, they ignore you. Second, they laugh at you. Third, they fight you. Finally, you win.”
