Why Belief Is Big for Business
Belief is a fire. It can start with spark or end with a fizzle.
And businesses that forget to tend the fires of belief in their customers are choking the engine that drives their bottom line.
Customers must believe that the money they're exchanging will be in return for a product, service or subscription that will be of equal or better value. These transactions are the foundation of the global economy.
There are three tiers of belief when it comes to the customer:
When you get exactly what you pay for
The fire of belief is active while buying oranges, toilet paper and gasoline. You've moved into a state of unconscious assumption that your grocery store and gas station won't swap your preferred items for ones of inferior quality. This belief is like a match, neither bright nor warm, often sputtering into darkness.
When you get more than you pay for
Visible when Apple® releases its newest iThing, also at professional sporting events, concerts and on inspiring travel experiences like DreamTrips. You (the customer or believer) are paying for access into the inner sanctum, surrounded by those who share your enthusiasm. The more this belief grows, the less you worry about payment and more about how much you feel a part of the story. This belief is a roaring fire.
When you get less than you pay for
This is a violation. Either you violated your own sense of belief and bought something that you knew was sub-standard, or the company made promises they couldn't keep or refused to make it right. There are two feelings that often result from this scenario, skepticism and betrayal. The skeptic may retain a spark of belief, but the fire of the betrayed is wetter and colder than a glacier.
Belief is more powerful than money, more useful than skill and more attractive than beauty.
Businesses that understand this principle can transform how people think, communicate, work and play. They transcend an economy of simple transactions and become a way of life.