Promise Gap
Promise Gap is the difference between the image consumers have of a particular brand and the actual experience. In other words, promise gap is a sign of how well brands live up to their reputations.
Brands with positive promise gaps exceed their customers' expectations, while those with negative promise gaps let customers down.
Two-thirds (66%) of the 150 brands surveyed for 2007 index have positive promise gaps, just 15% have ones that Promise describes as 'statistically significant'.
'This means that 85% of brands are leaving high returns on the table for those who are successful at delighting customers,' points out Promise director Clare Fuller. The best way of delighting those customers, she adds, is to redirect advertising spend toward improving the customer experience.
The strategy of under-promising and over-delivering is one that seems to be gaining ground. Two recent studies suggest it is key to delivering profitable growth, though both underline how many brands continue to disappoint.
Clive Cooper from Marketing magazine puts "Living up to expectations" as one of the big issues facing marketers in 2007: "The internet has empowered the customer to find out the "real" value of a product or service. Over-promising may have once been profitable, but no longer; it may even detrimental (Promise Index 2006). Companies are quickly finding that their products and services should at the very least be commensurate with expectations, and both complaints and positive consumer activism accentuated by this effect."
Read more about this topic: Promise Index
Famous quotes containing the words promise and/or gap:
“I have loved her all my youth,
But now old, as you see;
Love likes not the falling fruit
From the withered tree.
Know that love is a careless child
And forgets promise past;
He is blind, he is deaf when he list
And in faith never fast.”
—Sir Walter Raleigh (1552?1618)
“She isnt harassed. Shes busy, and its glamorous to be busy. Indeed, the image of the on- the-go working mother is very like the glamorous image of the busy top executive. The scarcity of the working mothers time seems like the scarcity of the top executives time.... The analogy between the busy working mother and the busy top executive obscures the wage gap between them at work, and their different amounts of backstage support at home.”
—Arlie Hochschild (20th century)