Mitigating risk.
Consciously or not, every decision we make comes with risk.
Whether to continue reading this, and waste three and half minutes, or stop here and miss out on a valuable insight?
Catch the 08.23 and arrive early, or hope that the 08.55 isn’t delayed and have an extra twenty minutes over breakfast with the family?
Is it better to pursue that seemingly huge opportunity, or invest the time, energy, and resources into four smaller projects?
Our lives are full of options, choices, and risk. Yet we tend not to like risk, and seek to mitigate it wherever possible.
Which perhaps accounts for why, for many people, life ends up vanilla, beige, and a bit bland, principally because we tend to stick with the same products and services: our desire for certainty, or at least high probability, overrides our curiosity.
People tend to stick with the same brands.
Rather than try one they’ve not heard of before, it’s safer to stay with the tried and tested; it’s less risky to stick than twist.
Because brand mitigates risk.
But are you taking a huge risk with yours?
Most businesses don’t invest enough in their brands, preferring the reassurance of measurable ROI from tactical marketing.
And yet, brand is often the reason why people buy inferior products and services to yours.
So if you seek long term, consistent, profitable growth, then invest in your brand.
Help people to trust you more than your competition – help them to reduce their concerns and fears, help them to mitigate risk…by choosing you.
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