Promises Kept...

Marketers have much to learn from President Bush and the ailing US economy. As the subprime mess spread companies laid off employees, Wall Street began to tank and the ‘R’ word swiftly entered our collective consciousness. In response Mr. Bush proclaimed his belief in the strength of the economy. Nothing happened. Despite repeated assertions from Mr. Bush the train wreck continued with international markets soon joining the melee. On January 18, he called for, and Congress agreed to consider, a $145 billion economic stimulus package, yet the downward spiral continued. Only when the Fed took action and cut interest rates did Wall Street reverse direction, albeit breifly, and we saw a glimmer of hope in a one day surge…but we’re not out of the deep, dark woods by a long shot.

If a brand is a promise then certainly one of the main tenets of any brand is credibility; or the belief by the consumer that the product lives up to it perception. Mr. Bush, and Congress for that matter, has little or no credibility with the US voter and apparently the situation is the same with Wall Street, financial and world leaders as it wasn’t until action was taken that the train wreck slowed.

The lesson for marketers is twofold; allow your audience to believe in your brand by remaining credible in the marketplace, and, strategy without action creates a vacuum.