If one mentions, BMW, Nike, Southwest Airlines, or Starbucks, you immediately conjure up in your mind an image as to the quality of that firm’s product and whether you would recommend that company’s products to a family member or friend. References to Augusta National, Bethpage, Oakmont and Pine Valley also create an immediate image – in this case, of great golf courses.
In business, there are only two things that matter. There are reality and perception. However, reality only matters to the extent that it influences perception.
The truth of that statement was reinforced this weekend as I viewed a Facebook posting by Bob Fagan.
Jimmy Fallon and the incredible musicians U-2, dressed in disguise, went into the subway at 42nd and Grand Central Station in New York sponsored by Alfa 91.3 FM. Click here to view the video.
As Bono was singing and the band playing, Jimmy Fallon worked the crowd indicating that this was a local group available to be booked for your parties or Bar Mitzvahs. Fallon was imploring that if you like what you hear support your local artists with some coins.
The reaction from the crowd was apathetic. No one cared, only a few dropped money into the open guitar cases next to Bono.
It wasn’t until Jimmy Fallon stated, “This is not working” and they took off their disguises as Bono continued to sing, did large crowds begin to amass.
What is the lesson? The brand image of U-2 had an immediate positive impact far greater than the quality of music perceived by the passerby.
What are the implications for you? Knowing how strong your brand image is in your competitive market greatly influences your revenue potential.
What do you think? Comment below.