Steve Jobs likened brand building to a bank account. He coined the term “brand deposits” to describe how experiencing positive interactions with a company (e.g., a successful product launch) increased customer loyalty, whereas “brand withdrawals” (e.g., negative press) reduced it.
Jobs hypothesized that as long as a company maintained a healthy balance (e.g., a greater number of deposits than withdrawals), customers would remain loyal, even in the occasional tough times.
Professionals make the same brand “deposits” and “withdrawals” every day through the interactions they have with their colleagues, contacts and customers. And, whether or not you’re actively paying attention to your brand, you can bet others are keeping a record of your bank account balance.
Brand interactions are like traces of DNA – everywhere you go, you leave behind pieces of evidence about who you are.
So what brand DNA are you leaving?
- Do you show up five minutes late or five minutes early?
- Are you criticizing or cheering others on?
- Do you seek to understand or to be heard?
- Is it about winning or collaborating?
- Do you see the glass as half full or half empty?
- Are you complaining or creating?
- Are you one person in the office, a different person on social media?
- Do you follow through or leave others hanging?
- Do you step up or step back?
Chances are, if your brand deposits are significantly outweighing your brand withdrawals, you are likely doing okay.
Not sure? Ask a few trusted colleagues or friends what you’re “known” for.
The human brain loves to categorize, so people around you constantly analyze the evidence they see to formulate their view of your identity. Be a conscious contributor to your brand. It’s worth the investment.