Creating Brand Goodwill

- July 25, 2012

Action Wednesday/Positioning

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing.  Today is Action Wednesday and we are going to talk about something that I love to talk about which is creating brand goodwill.

Just what is goodwill?  Goodwill is created by positive actions that you take to enhance your brand.  In a technical sense it is called an intangible.  For example, if you sell your business for $200,000 when you had a $100,000 book value that difference of $100,000 is goodwill.

I’m going to site a couple of example of brand goodwill.  Mark Cuban, owner of the Dallas Mavericks professional basketball team, noticed that around the NBA visitor’s locker rooms were not very well outfitted.  He decided to provide a much better experience and furnished really great towels knowing that the NBA visiting players would take them home.  That was ok because by taking the towels they would remember his good brand experience which could prove to be advantageous in the future as he traded for some of these players.

Then we have the example of Sid Sold it Again.  Sid is a realtor who would loan his client a moving van following the sale of a home.  That van was plastered with his logo and picture that read: Sid Sold it Again. As the client was driving around town after such good sales experience they had a positive feeling about Sid and everybody in town knew that Sid sold another home.

You assignment for Action Wednesday is to think about creating brand goodwill for your company.  Remember what Mark Cuban did with the towels and what Sid did with the moving van and determine what you are able to do for your company and create goodwill for your customers. What positive actions can you take?

Thank you for joining us for Action Wednesday.  Be sure to tune in tomorrow for Recon Thursday.  To discuss an online or face-to-face service engagement and enhance the marketing and branding for your organization, contact James Glover: (505) 501-1330 or  I’m Jim Glover, That Branding Guy, for Once a Day Marketing and we’ll see you next time.