How I'd Build Brand Trust as a Small Business — Transcript

Full transcript

1. 0:00At what point should you even start
2. 0:01thinking about brand?
3. 0:03>> Brand?
4. 0:04>> Or revenue level.
5. 0:05>> So, brand happens is always happening at
6. 0:08all times.
7. 0:09It's just that it's really just on what
8. 0:11scale. And so,
9. 0:13I just think about it like this.
10. 0:15>> [sighs]
11. 0:28>> So, these are kind of like the three
12. 0:30kind of levels brand if you think about
13. 0:32it from a customer perspective.
14. 0:34So, in the beginning you say something
15. 0:35about your business. And this is the
16. 0:37weakest stuff. So, you see a trailer
17. 0:40about Godzilla, you're like, "Oh, maybe
18. 0:42this is interesting." And then you talk
19. 0:44to your friend who's like, "Oh, I saw
20. 0:45it. It was really good." You're like,
21. 0:47"All right. Well, maybe I'll go see it."
22. 0:48And then you see it and then you're
23. 0:49like, "Okay, I will now make a decision
24. 0:51about this thing."
25. 0:52And so, the idea is that if you branding
26. 0:54on a small level is just pairing. It's
27. 0:55associations between things. And so,
28. 0:57every one of your customers who has
29. 0:58bought something from you, you have a
30. 1:00brand with them. It's just a question of
31. 1:02how big is your reach on top of that.
32. 1:04So, you many people here have brands.
33. 1:05They're just small. And so, branding is
34. 1:08just a deliberate pairing of things that
35. 1:10your customers know and like with your
36. 1:12business which they at the beginning
37. 1:14won't know and will be neutral towards.
38. 1:16And so, if you pair the things that they
39. 1:18know and like with who they don't know,
40. 1:20your business, and then eventually like,
41. 1:23then over time you can eliminate the
42. 1:24thing they like and what will stay it
43. 1:26will rub off on your brand. And then
44. 1:28they will fundamentally associate
45. 1:30that likingness with you.
46. 1:32Does that make sense?
47. 1:34Okay.
48. 1:35So, at what point
49. 1:37should you focus on branding? At all
50. 1:39points. It's just your reputation in the
51. 1:41short term.
52. 1:42Um
53. 1:43and really
54. 1:45content and stuff allows you to brand at
55. 1:47scale because distribution is free.
56. 1:50Big brands just run ads that aren't
57. 1:53direct response and they just make
58. 1:54associations because they have enough
59. 1:55brand presence that they just continue
60. 1:58to blast them out.
61. 2:00And that's it.
62. 2:01And so, if you think about the vectors
63. 2:04of brand,
64. 2:05there are three.
65. 2:08You have direction.
66. 2:12You have influence.
67. 2:15And you have reach.
68. 2:19So,
69. 2:21>> [sighs and gasps]
70. 2:21>> with direction, it's towards or away.
71. 2:25With influence, it's effect size. It's
72. 2:27how powerful is that?
73. 2:29And then reach is how many people are
74. 2:31affected by it in general.
75. 2:33And so, your parents, for example, prob-
76. 2:36I mean, depending on your relationship,
77. 2:37let's assume you have a good
78. 2:38relationship with your parents, they
79. 2:39have towards directionally, like you'll
80. 2:42listen to what they say, you'll be more
81. 2:43likely to.
82. 2:44It's strong influence,
83. 2:46but the reach is very low. It's just
84. 2:48you. They're your parents.
85. 2:49Your parents don't have a very big
86. 2:50effect on me.
87. 2:53Trump, for example, has very strong
88. 2:57towards and away for different
89. 2:58submarkets.
90. 3:00Sorry, has towards and away for
91. 3:01different markets. The strength of that
92. 3:03influence is very high for everyone who
93. 3:06knows who he is. Meaning, he will
94. 3:08influence, he will change your behavior
95. 3:10in one way or another, either to either
96. 3:12towards or away based on your
97. 3:14based on your directionality, your
98. 3:15affinity to- for for him.
99. 3:18And then reach is very high. Many people
100. 3:20know who he is. And so, fundamentally,
101. 3:22if these are the three components of
102. 3:24brand, this is really
103. 3:25multiplier. But it's really just do they
104. 3:27like you?
105. 3:28And do they believe you?
106. 3:32When you make claims.
107. 3:34And so, over time, what happens is, when
108. 3:36you're a small business,
109. 3:39you
110. 3:40have to provide proof that you're good.
111. 3:43Because everyone lies and exaggerates.
112. 3:45So, you have to provide overwhelming
113. 3:46proof over and over and over and over
114. 3:47again.
115. 3:49As time goes on, and you keep more and
116. 3:51more promises to more and more people,
117. 3:53your word becomes good enough.
118. 3:57And so, you can have a brand that
119. 3:58converts at a higher percentage without
120. 3:59showing proof when they come out with a
121. 4:00new product because they have a track
122. 4:02record of having kept their promises in
123. 4:05the past.
124. 4:06So, if Spielberg comes out with a movie,
125. 4:08Spielberg fans will go see it without
126. 4:10anybody else having given them proof.
127. 4:11They say you say nothing because they
128. 4:13know they have a history of positive
129. 4:15reinforcement with the brand.
130. 4:17That make sense?
131. 4:19And so, as a small business, you just
132. 4:20have to do [clears throat] a really good
133. 4:21job, do it over and over again, and give
134. 4:23away stuff that's valuable for your core
135. 4:25audience.
136. 4:26That's it.
137. 4:28>> Okay.
138. 4:29>> [laughter]
139. 4:31>> That's your mini master class on
140. 4:32branding. Uh
141. 4:33yeah. If you're not getting as many
142. 4:35leads as you want and your business is
143. 4:36demand constrained, [music] meaning you
144. 4:38could service more customers than you
145. 4:40currently have, then this is for you.
146. 4:41So, marketing is changing and I think
147. 4:44ACQ tends to be on the bleeding edge of
148. 4:45this stuff. We certainly spend the money
149. 4:47to do it, but we also build [music]
150. 4:48custom software and we pay amazing
151. 4:50vendors and very expensive people to
152. 4:52figure out the system that we have right
153. 4:53now and I want to share it with you kind
154. 4:54of open kimono style. If you're not
155. 4:55getting as many leads as you want,
156. 4:57boy, do I have a thing for you. Click
157. 4:58below, book call, and uh
158. 5:01hopefully I'll see you in Vegas.