08 Feb How Being A Transparent Brand Builds Lasting Customer Relationships
At the core of every consumer brand is a strong and loyal consumer base. Brand loyalty allows companies that luxury of building their brand and dipping their toes into new and bigger ventures. Without it, businesses can struggle with revenue and ultimately fail.
In order to help you to build strong and lasting relationships with your consumers, here is a list to help you to understand how being transparent can help you to build brand loyalty.
The internet is giving consumers a new sense of authority over the purchases they make. Just a few decades ago, consumers were limited in option by the items stocked on a local store’s shelf. Now they can log into Google, Amazon, and eBay and buy items from all over the world. No longer limited to a small pool of options, today’s consumers are informing their purchases based on internet searches and cultured buying experiences. A quick ten-minute session on Yelp, Wikipedia or Amazon Review can help them to understand how a brand operates too. Meaning they’re also using the internet to make sure that they’re purchases are morally sound as well.
As such, brand transparency helps consumers to feel like they are in control of their decisions. Brands that make it easy to find information about how they operate and produce products instill a sense of confidence amongst their consumers. For one, this sense of transparency ensures consumers that a brand has nothing to hide. Secondly, it makes consumers feel like they are doing business with a brand that cares about their needs and wants. Remember, today’s consumer wants to feel like they’ve chosen a brand. Not that they’ve been backed into a corner because they have limited options and information. The consumers that do make choices based on little information are the ones most likely to crossover to a brand that provides more information.
When consumers make their buying choices they want to know that they’ve made the right decision for themselves, their family and even the world. Consider you have an option of buying two brands that seemingly sell the exact same product at the exact same price. One brand produces the product under “unknown” circumstances. The other can prove that they produce their product at a local factory where workers are paid well and operate under forgiving hours. The smart and sentient consumer will go for the local and morally conscious factory every time. As such, being transparent about how you conduct your business will be key to building and sustaining an authentic brand image and thus gaining the trust of your consumers.
Yet, trust isn’t something that can simply be bought or assumed by a “label.” Trust has to be earned. Because of this, brands have to do their best to be transparent to consumers about the products they’re selling. Those that are slow to revealing their methods of operation will swiftly be passed over for the ones that are open books.
Every brand is on a constant chase to obtain a shopper’s dedication. A customer that is loyal to a brand won’t just be good about purchasing their product when they can, they’ll be consistent. The only thing is, it’s a slippery concept for brands to catch. In the internet age, loyalty can be a particularly difficult quality to obtain. Especially because most products have been commoditized.
For brands, this means helping consumers to make purchases that are ultimately investments in their own community or the social causes and charities that they consider a priority. Consider the concerns that are at the heart of your own purchases. If you’re buying fish, would you feel better about your purchase if you knew that it was healthy for you and the planet? Perhaps your gym membership would feel better if you knew that for every monthly payment you make 4% of the costs go to charity. Whether it’s providing full labeling transparency, creating informative ad content brands have to show consumers how they’re involving themselves in the fight to make the world a better place. Provide potential clients and current consumers with access to consumer education, product information and a brand that is completely transparent.
Today’s buying trends speak volumes to the expectations that consumers are holding brands to and what they want out of brands. More so than ever, consumers want brands to help them make the world a better place. By conducting a brand transparent business, companies can gain build consumer trust, enable them to feel empowered and earn their loyalty.