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The mission statement guides Google in making decisions so that it is able to achieve it - an example - Project Loon’s, whose objective is to provide Internet access to rural & remote areas of the world. Why? Because if these areas do not have Internet access how will they access world’s information?
By the way, most companies, around the world have a mission statement, which is eruditely crafted & hung on a prominent place in the office. But it was crafted, not with the intention of pursuing them, but because it was a cool thing to do. Hence the Mission Statement, much like a trophy partner, hangs proudly in the reception, mostly ignored.
Even in the early stages of its inception, Google received a prodigious response for its search product. The initial success got its inventors to dream of making ‘Google the Coca-Cola of Search' – making the trademark 'Google' globally synonymous with search, as Coca-Cola is with ‘thirst’. This led them to the doorsteps of an external Marketing Consultant – an ex-Coke person to seek his counsel in drawing up a Marketing plan so that their dream could be realized. This person, in due course, presented an elaborate plan along with the an elaborate investment plan, which if implemented – he assured them – can make Google the Coke of ‘Search’. The young Google owners, reviewed the proposed plan, thanked him, but thankfully took a decision of not investing in Advertising & Sales Promotion, but invested the same money and more in perfecting an already perfect product – which would consistently deliver an awesome experience so that the users become Brand Advocates of Google – always use Google whenever they needed to do a ‘search’, scream & shout at every opportunity and form a platform to broadcast their views to everyone who would care to listen to them that Google is an awesome ‘search’ product. The result – Google’s customers became it's Brand Advocate & vicariously its sales person!
3. Monetizing Strategy: Google offered its ‘search’ product for free. Then how did it make money? Its search product delivered an awesome experience to its users. Over time, its platform was densely populated. Then an invisible digital ring was erected around its large ‘user’ community. Any advertisers who wished to speak to Google’s community had to pay Google for that privilege - they made money, not from the actual users but the advertisers who desired to speak to their users!
1. Craft a Mission statement. It should be simply worded, easy to understand and have the power of inspiring your stakeholders over an extended period of time. It should also place your company on a higher moral ground.
2. Do not invest money in Traditional Advertising media vehicles – TV, Press, Cinema, Radio & Outdoor - to build your brand. Instead, invest that same money in creating an ‘awesome product that delivers an awesome experience’. This will get your customers to become your Brand Advocate & do the selling & marketing for you.
