A business built on over-promising and under-delivering may see short-term gains, but it is not sustainable in the long run. In today’s business world, delivering on promises is paramount. However, many businesses fall into the trap of over-promising and under-delivering. This practice can have severe repercussions on your reputation and, ultimately, your bottom line.
Here’s why over-promising and under-delivering is detrimental to your business.
Erodes Trust: Trust is the foundation of any successful business relationship. When you make promises to your clients, they expect you to fulfil them. Failing to deliver on these promises erodes trust, making clients sceptical of your future commitments. Think about a supplier that let you down, would you do business with them? Once trust is broken, it is incredibly challenging to rebuild, and clients may seek more reliable partners.
Damages Brand Image: Your brand image is how the public perceives your business. Over-promising and under-delivering tarnishes this image, leading to negative word-of-mouth and reviews. Given the proliferation of social media and immediate feedback, negative feedback can spread like wildfire, causing long-term damage to your brand’s reputation and making it difficult to attract new customers. By the same token, being able to deliver on your promises and creating that feeling of trust, can generate great PR and word of mouth brand image that cannot be bought.
Loss of Repeat Business: Repeat business is a crucial component of sustained success. Clients who feel let down by unmet promises are less likely to return. They may also discourage others from doing business with you. Ensuring consistent delivery on promises encourages client loyalty and repeat business, which are vital for growth.
Legal and Financial Consequences: In some cases, failing to deliver on promises can have legal ramifications. Contracts and agreements are often based on specific promises. Not fulfilling these can result in legal action, financial penalties, and further damage to your business’s reputation.
Increased Stress and Pressure: Over-promising creates unrealistic expectations not just for clients, but for your team as well. The pressure to meet these inflated promises can lead to burnout and decreased morale among employees. This can further impact the quality of your service or product, creating a vicious cycle of underperformance.
Clients and partners value reliability and consistency. By delivering on your promises, you build a solid foundation for long-term relationships and growth.
THIS is good PR.
