3P Profit Formula – #1: Promise, & How It Can Grow Your Profits

Chapter 5 of Tema Frank’s forthcoming book, PeopleShock: The 3P Profit Formula for the Digital Era. The 1st P is Promise.

Chapter 5 of Tema Frank’s forthcoming book, PeopleShock: The 3P Profit Formula for the Digital Era. The 1st P is Promise.

As many of you know, I’m finishing writing my new book, PeopleShock: The 3P Profit Formula for the Digital Era. The 3Ps that lead to profit are Promise + People + Process. In today’s podcast episode, I take you through Chapter 5 of the book.

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Behind the Brand: Vision, Mission and Values

I’d love to get your feedback on it! If you have time to listen to the whole episode and/or read the full transcript, you’ll get to hear the fun stories that go with the key points. But if you are time-pressed, here are the highlights:

  • Have a strong, clear, memorable rallying cry, or purpose. That will make it much easier to develop customer, staff and supplier loyalty. It also gives you a filter to help you make difficult decisions on priorities.
  • The whole team should be involved in developing a new mission statement. If it is imposed from the top it will have little impact.
  • Your mission or vision statement should be one sentence, and not longer than about 15 words. If people can’t remember it, they’ll have trouble living it.
  • You can support your mission statement with a list of core values. Again, try to keep the list short enough to be memorable.
  • Simply saying you offer great customer service won’t be enough; everybody claims that. What is your unique selling proposition (USP)?
  • Have a firm base of values and principles. That will help your organization deal with the challenges when things go wrong.
  • Breaking your promise to customers is one of the hardest customer experience mistakes to overcome. This is especially true of misleading sales or marketing promises.

Do you want to hear or read more of the book before it is released?

I’d love to get your feedback on it. Drop me a line at tema [at] frankreactions.com. Thanks!

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