Can confidence get us out of this mess?
By the end of the month I’ll be back with my next branding post, this time looking at the value of the internal brand, but this last few days has had me thinking a lot about confidence.
It’s fair to say that a combination of over confidence and a feeling of invulnerability got the countries that are currently suffering into their current mess.
So can confidence also help haul us from the depths?
I’d like to argue that the way to break the paralysis most feel from the Euro crisis and that gripping many of the major world economies is for a few to stand strong, declare their confidence, and forge forward in their markets.
For a bank to do this may bring withering looks of derision from the masses, however a bank is best placed to declare such confidence. And, should it be well judged confidence, that bank will quickly carve its name in rock and secure its profits as we flock to a much needed leader.
While the prize is beyond the imagination of many, this potentially rewarding course also is fraught with peril too.
Misplaced confidence will sink the institution beyond trace.
Success will no doubt create a bandwagon such as we saw through much of the last decade with another fragile emotion, that of “trust”. Once a few businesses realised the value of trust, and traded on it, suddenly many were shouting how trusted they were. And, naturally, we as the general public reacted by trusting everyone and everything less. Suddenly trust wasn’t so sexy.
Therefore I posit that confidence could create a new success, but also a new bandwagon. Those leading the charge need to adjust quickly and shift to a new track as soon as others start trying to muscle in on the territory. As ever the old adage of “innovate or die” stands strong.
There is an opportunity here for bold brands. To stand tall. And declare their strength with eloquently crafted words that shout the message “We are confident in our future, join us and share the rewards.”
Who’s feeling strong?