Why do you buy something? What is it that attracts you enough that you decide to trust the product and bring it home or invest in it for your business? It is likely credibility. There was something that appealed to your sense of trust and you believed this product credibility factor over another. Imagine picking up a book then seeing one of your favorite authors has endorsed it, or reading an article in a publication about a product you were interested in and someone well known, who you respect, is endorsing the product? This is instant credibility and the speed of credibility speeds the sale---you can sell more faster when a trust third party is vouching for it.
One of the key strategies to increasing credibility is market positioning. Market positioning is a VERY broad topic but to put it in a nutshell, I think it is the combination of ensuring the many points of corporate and product credibility are matched with marketing and communications strategies to drive a brand that is more trustworthy. Points of credibility include;
· A sound management team
· A product that clearly solves a problem
· High profile strategic partners
· Brand recognized customers
· Ensuring messaging tracks with current market trends.
When these foundational points of credibility are achieved the market position is easier to identify and, it is certainly easier for key constituents as well as influencers to embrace the product and company.
This is a high level view of an aspect of the credibility branding model. Over the coming weeks and months I will be offering additional concepts related to credibility branding and also supplying some credibility-focused marketing case studies. (I am always looking for more so please send them my way.) Let me know what you think!
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