Wikipedia says the cornerstone is “…important since all other stones will be set in reference to this stone, thus determining the position of the entire structure”.  So if there is more than one – which one determines the position of the entire structure?  Which one will guide decisions about company strategy, pricing, product offering, pricing etc etc.

Let’s take MAYTAG as an example.  Their cornerstone is dependability. And they do a very good job of staying true to that one central concept. Everything from product development, to pricing, marketing and even manufacturing are all driven from the concept of dependability.   Now consider the implications if they had two cornerstones - dependability and  bargain. Which cornerstone is used to make decisions?  Can you have a credible message that highlights both of these concepts?

The key is that you own one cornerstone in your customers’ mind.  Keep it simple, credible and stay true to it.  One well constructed cornerstone is worth far more than multiple competing cornerstones.  Strong brands are well-known for one overarching characteristic whether it be dependability, safety, excellence, or innovation.

I recently read a blog entitled “Riding High Through the Recession – What Jam Bands Can Teach the Brands“.  The blog, by Rob Rush, really drives home the cornerstone point  as it relates to customer experience.  In the blog he highlights how hotel chains and other brands can learn from “jam bands” who stay true to their value proposition.  In his blog he says  ”…these jam bands can teach other companies and brands struggling to make ends meet a thing or two about successful branding. Keep your value proposition simple and remain true to it.”

I couldn’t have said it better myself!

So – back to the original question:  ”Can you have more than one cornerstone?”

My response:   At your own risk.

Picture This

You are 1 of 8 people sitting in a conference room – all smart, ambitious, experienced executives.  The agenda centers on product strategy.  The meeting is going into hour 3, the conversation is getting heated and it seems that everyone is using a different set of decision criteria to justify their position.  The operations guy wants one product, one price point.  The B2B sales guy wants products based on usage.  The CFO wants 150% profit margin.  The CEO wants some cool idea that will rival Apple. The web sales guy wants well…the kitchen sink. And so on.

And Then – The Unthinkable Happens

The marketing executive decides to stop the madness.   “Our brand clearly positions us as the consumer advocate, offering products that give our customers choice and good value.   Are we going to implement a product strategy that does not align with our brand message or are we going to change our brand message?”  The room goes silent.

It may seem trivial. I mean, you know those marketing people – they always over react!  What does product strategy have to do with your brand anyway?   Short answer – A LOT!  Imagine if Volvo (brand essence:  safety) decided to offer a low cost model that did not have the safety features standard in their cars.  It would go against the essence of who they are, how they built their company and their reputation.  Ultimately, the brand would suffer because the message would not align with the product.

There are so many companies  that have created a great visual brand identity .  Quite honestly that is the easy part.  What takes work and discipline is defining your cornerstone, consistently representing that message in every aspect of your business and using it to guide your strategy. That is how great brands of all sizes are built.

Next Post – Can my business have more than one cornerstone?

Imagine Saint Paul’s Basilica without the cornerstone.  How long would the walls stand?  If they stood would they all be straight?  Would they have visible cracks?  Would the roof leak?  Would it be safe for people to come inside?

Wikipedia says the cornerstone is “…important since all other stones will be set in reference to this stone, thus determining the position of the entire structure“.  You can easily take this statement and apply it to brand essence.  ”The brand essence is important since all other messaging and business decisions will be set in reference to it thus determining the position of the entire company.”

So what is your cornerstone?  And why does it matter?

Today’s challenging environment can mean less control over your brand message in the marketplace. Social media has given the customer a voice in shaping your brand. Economic conditions have  lead to finding cost effective ways to manage your business. Companies are exploring indirect sales channels to boost sales coverage and effectiveness without increasing their workforce. Many more have outsourced customer service. With all of this comes the risk of blurring your brand message. Unfortunately, many companies have not  taken the time to insure their brand message is well defined and well communicated.

Now more than ever it is imperative to make sure your cornerstone is in place and well defined.  There are so many opportunities to cost-effectively grow your business but starting down any of those paths without a cornerstone in place can significantly impair your results.

Because after all, if you can’t summarize your brand in a word or short phrase then how can you expect everyone out there telling your story to understand what your brand is about?

How do you make decisions without a cornerstone?   We’ll explore that next week.

What jumped out at me was the last paragraph of the posting:  “Now that the economy is starting to recover, its a great time to look at your brand and determine where revitalization is needed. Focus spent on shaping the perception of your brand is an investment with lasting, long-term returns.”

The point is critical. Your brand is not a static component of your business.  There are so many things that impact business – the economy, technology, competition, globalization etc. Taking a good hard look at your brand message is not just an exercise for a new or young company.  It is something that should be done by companies at all stages of growth. I am not necessarily talking about a new company name, logo, color palette or tagline – although those might be necessary.  I am talking about what words you use to describe your unique value proposition to your target audience.  How are you different, better than the competition?  Why should a consumer or business spend their money with you?

Here are some questions you can ask yourself to determine if it is time to revitalize your brand message:

1)    Are there other potential audiences that you could sell your product/service to that you aren’t reaching?

2)    Do you want to expand into other markets/geographies but aren’t sure if your brand will stand out from the noise?

3)    Do your customers understand what makes you different/better and is it what you think makes you different/better?

4)    Are you losing market share to companies that are not direct competitors or that you would not have considered competitors in the past?

5)    Has your value proposition been diluted with the external factors?

6)    Can you describe your brand in one word, one sentence? (would customers and employees respond the same?)

7)    Can you describe your company in one paragraph? (would customers/employees respond the same?)

An established company can experience significant benefits by taking a step back and assessing your brand message.  It probably will not result in an immediate 35% uptick in customers but it will position you for sustained growth and help differentiate your company in the over-crowded and over-exposed climate we live in.

I see it all too often, a company embarks on a branding project because they want a new hip logo, want to refresh their colors or want a tag line that is going to save the world. While these are all noble objectives they overlook the most important component of the brand – how it is represented in words. The brand in its most simple form is a word or phrase that encapsulates what the brand stands for, what it promises to deliver.  What do you want people to think of when they hear your company name?  What word do you want to own in the customer’s mind?   It’s called your brand essence.  Start there, figure out your brand essence first and everything else will flow.

Sounds easy enough – right?  Well, it isn’t something that should be dreamed up and voted on over lunch in the boardroom.  Defining your brand essence is a process. It requires a thoughtful approach that takes into account both internal and external perspectives and dynamics.  If done correctly, the process will yield a well thought-out brand framework that can serve as a roadmap for all internal and external communications and help define your culture.  A well defined brand will drive strategic decisions about what types of customers you target, how your business is run and what types of people you hire to name a few. The list is endless and so are the benefits.

There’ll be plenty of time for the fun stuff:  What does the logo look like?  What should the color palette be?  What is the tag line?  These will all be much easier to create with a well developed brand essence and messaging framework.  So start with the words – it may not be as glamorous as the graphics but it will take you a lot further.

My next post:  Defining your brand essence – it’s not just for new companies.