My recent report, “Driving Toward Communications Sourcing Excellence,” looks behind the scenes to find out why Formula One (F1) sourcing professionals enjoy such a great customer experience from their network providers. It’s a two-way street: Providers ensure that the F1 team’s network is reliable, always available, and delivers peak performance when needed, and F1 sourcing pros provide the guidance, insight, and support to make sure providers know what teams need. This is as much a concern for CIOs as it is for sourcing pros in their quest to win, serve, and retain customers.
Matt Cadieux, the CIO of Infiniti Red Bull Racing, said, “AT&T has a dedicated F1 account team that I meet for regular account reviews to discuss our requirements and plans. In the rare event of a problem, we also have excellent relationships with AT&T’s top executives. AT&T has consistently delivered projects when required; for example, in 2014 it provisioned new access networks in England and France and at racetracks around the world. These circuits have been fully operational — we show up and they just work.”
What It Means
My colleague Tracy Stokes believes that a consistent customer experience builds a trusted brand, and I couldn’t agree more. It also leads to:
We live in a world filled with technology-empowered consumers who have access to more information on brands than ever before. Armed with this information, they are telling brands where, when, and how they want to engage. This new world has sent marketers and the brand’s they support into a tailspin — they are losing control of their brand message and are losing trust with consumers. My colleagues Tracy Stokes, Chelsea Hammond, and I have developed a framework that helps marketers stop their free fall and chart a new course for their brand to win mindshare and market share in this new world. We call it the TRUE Brand Compass Framework.
In this framework, we take the stance that for marketers to succeed in building a 21st century brand, they need to focus on a new set of metrics that capture brand resonance. Professor Kevin Lane Keller perfectly states what brand resonance is: “where customers feel a connection or sense of community with the brand and they would miss it if it went away.” In our research and advanced analytics on brand resonance, we identified four key dimensions that each significantly influence brand resonance. These four dimensions are TRUE: trusted, remarkable, unmistakable, and essential.