Jim Stengel, former global marketing officer at Procter & Gamble, has just published a book entitled, Grow: How Ideals Power Growth and Profit at the World’s Greatest Companies.
Jim’s book is based on 10 years of research conducted by Milward Brown Optimor and features 50 brands that have a shareholder return of 400% over the past 10 years while the S&P 500 was down 7.9%.
Jim’s premise is that maximum growth and high ideals are highly correlated. “A brand ideal of improving people’s lives is the only sustainable way to recruit, unite and inspire all the people a business touches from employees to customers. Without that connection, no business can truly excel.”
Stengel suggests growth seeking CEOs consider the people their companies serve, along with their shared values and beliefs. He suggests the CEOs define the ideals, or higher-order benefits, their companies provide to the world.
Here are the five “must do” activities which leverage the ideals of the business and enable the business to grow and perform:
- Discover a brand ideal in one of five areas of human value.
- Build the business culture around the ideal.
- Communicate the ideal to engage employees and customers.
- Deliver a near-ideal customer experience.
- Evaluate the business progress and people against the ideal.
What is your brand ideal that your business is built upon?