A recent event touting the name of a famous executive failed to deliver the promised value and the executive never showed. While the advertisements never stated the executive would show, they were written in a manner that many attendees were surprised by absence of the star executive. In fact, the event uses the name of the executive because license rights were obtained, but the executive is not involved other than to collect payments for the promotional use. This is one example of the need for entrepreneurs and consumers to read between the lines of promotional materials before engaging in any activity.
Promotions of products are similar. Read most nutritional supplements and they provide such promotional information as “General support of immune function”, “Good support for heart health”, or “Promotes wellbeing.” These statements imply great value, but they really say nothing. In fact, the makers of the products have no true claims supportable by real data of any type. The same is true for many statements made of cosmetics and foods. Factual and legal claims of performance of these products would require FDA approval, which would only be given if the claims were proven by significant scientific studies.
As sad as it may be, marketing is partly identification of information that will entice the consumer without LYING! The promoters can come close to lying and often do. The sophisticated consumer may catch on but the majority may not realize the promotional sizzle is not supported by FACT. It is this grey zone that leads to dissatisfaction or distrust once the consumer realizes what they thought would be delivered was nothing more than a gimmick to sell products or services. Promoting services or goods in a manner of meeting expectations is an issue of creditability. Promise something and deliver on the promise is the best way to proceed to enhance support by your customers.
Entrepreneurs meet many service providers promising great things. The entrepreneurs may be highly experienced or not. Regardless of their experience, they will encounter providers with well-honed presentations. It may be extremely difficult to sort out those that will deliver on the promises and those that will not.
The issue of delivery on promises is one area that entrepreneurs can create value for their company. Learning to sort out those providers that will deliver versus those that will disappoint is an education and you may never learn enough to achieve a 100% prediction rate. It is sometimes hard to curb the enthusiasm and use less spin in presentations. However, factual info with less spin and greater emphasis on delivering on promises eventually leads to improvement in the value add of the entrepreneur. Investors and partners want to know they can trust and believe in the leader and that the entrepreneur will deliver as promised. They need to know when one misses on a promise that the explanations are honest and factual.
You can follow Taffy Williams on Twitter by @twilli2861 and you can email him with questions at firstname.lastname@example.org or contact him via company contact info in the website. More Startup information is contained in his personal blog.