5/6/2023 0 Comments Halo effect![]() When our clients want to build stronger brands, we often recommend focusing on an industry in which you have a strength and a service where you can gain a true advantage. They allow themselves to become a commodity and are reduced to competing on price alone. Instead, it reinforces an impression that they are nothing special. The Halo Effect does not help these firms build stronger brands. By trying to be everything to everyone firms end up being nothing to anyone. Instead, they stretch their marketing budget across all their offerings and target every possible client with the same intensity. ![]() Yet firm after firm fails to use this simple insight to build brand strength. See Also: Top 5 Brand Building Strategies for Professional Services Firms Why Firms Fail From that starting point, your brand strength can grow. But you do need to have a strong presence somewhere. Similarly, you don’t need to be highly visible to everyone. You just need to be the best at something and the Halo Effect will help pull the rest of your services forward. Your firm doesn’t need to be the best at everything. Here is where Professor Thorndike and his Halo Effect come to your rescue. Instead, you must demonstrate it.īut demonstrating your reputation across every possible service delivered to every possible industry is a near impossible task (not to mention expensive). So how do you increase your firm’s brand strength? Just telling everyone that you have a great reputation obviously won’t do it. Similarly, a great reputation that few people know about gains you little more than client loyalty and a handful of referrals. Does any experienced professional services marketer believe that full-page display ads alone strengthen your brand? High visibility alone doesn’t really strengthen your brand. Firms that have better reputations coupled with higher visibility have stronger brands. ![]() So what exactly is brand strength? At Hinge, we define brand strength in professional services as the product of a firm’s general reputation and visibility among target clients. From our own experience, we know that firms with high brand strength do better in the marketplace, whether they need new clients, business partners or employees. ![]() The concept of a strong brand is something that we all understand on a very intuitive level. Unfavorable impressions are also generalized via the “Devil Effect”.Think of it as the Halo Effect’s evil twin. Not surprisingly it can also work in the other direction.
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