Now more than ever, consumers have access to information about companies. The idea of a business sweeping something under the rug or hoping it blows over is outdated and unrealistic. However, this is a positive. Use this chance to show your brand is honest and trustworthy in order to gain lifelong customers. Brand transparency is here – fully embrace it.
What Is Brand Transparency?
Brand transparency is how a company shows itself to be open and honest when in the spotlight of all things related to public interactions. It is one of the strongest way to gain consumer trust and loyalty. It’s also a large factor in brand identity.
Imagine a time a company was open and honest in their communication. How did it make you feel? Conversely, try to remember a time where a company was closed-off and sheltered from the public. How did that make you feel? The difference is quite drastic.
What Are Some Benefits of Having a Transparent Brand?
When I was younger, a sales employee at a sports department store swiped my dad’s identification without asking. My dad was upset about it, not knowing why it happened. The sales clerk proceeded to print out a statement which showed exactly what the company does with the information they got from the swipe. Though my dad was initially upset, this smoothed everything over.
The above example is proof of the power transparency offers. And the same applies to brand tenfold. The greater the transparency, the more satisfied the customer. Here are some of the main benefits of guiding your branding strategy toward total transparency.
It builds trusting relationships
Transparency shows a company is both trustworthy and honest. Even after a mistake is made, a company who admits the mistake and is honest about the mishap benefits from their transparency. This humanizes your brand and invites customers to tie themselves emotionally to your product and services.
It maintains customer loyalty
Statistics show that consumers patronize transparency at a high rate. Companies with sincere records of open behavior and communication are rewarded with stronger sales. On top of this, transparency develops loyal customers and usually creates lifelong customers.
How Can I Achieve Brand Transparency?
Transparency goes further than strategizing and implementing – it becomes a lifestyle of your company. That’s why it’s important to commit to the unorthodox and sometimes uncomfortable methods of increasing brand transparency. Here are some lesser-known ways that companies seldom attempt.
Show vulnerability (every once in a while)
Your company isn’t perfect, and that’s okay. In fact, no company is perfect. We all accept this as fact, especially consumers. Therefore, if a company is presenting itself as flawless and without any mistakes, consumers become very suspicious and lose trust.
So instead of presenting yourself as a perfect brand, try embracing your flaws. Show that you can be vulnerable. It helps you connect with your consumer, as they may see themselves as having similar hang ups in life.It also assures them you’re going to be truthful in future transactions with them. Certainly this doesn’t mean you have to admit every little mistake, but a few playful pokes at your own brand can work wonders.
Increase communication and widen feedback channels
Make yourself more accessible to your consumers. This boost in communication creates better understanding. Also, give customers more room to offer their opinion on your product or services. They will value your willingness to allow their suggestions. They’ll also appreciate the fact that you are committed to hearing their criticisms and appreciations. All of this leads to an established rapport, ultimately through transparent brand practices.
Once you’ve achieved brand transparency, remember that it’s a lifelong process. Find new ways to stay open and honest with the public – it will make a huge difference.