The modern world, ubiquitous with digital technologies, changing standard of living has led to the rise of new brands & businesses. The commercial realm, as one of the biggest spheres of human interest never left outside the incessant stream of changes and updates that the world of technology experiences.
In the age of the consumer, the most critical feature that every thriving brand should display is transparency. Brand transparency is what defines the reputation and sustainability of a brand and makes it appealing to customers.
Given the relative risks and challenges attached to brand transparency, it has often become a topic of debate on how this can be of business advantage. Not to forget the endless arguments and contentions that either advocates the implementation of brand transparency or debase its relevance.
Through this article, we’ll share our experience & delve deeper into this problem. For any argument, we’ll measure it alongside facts and in the end, will help you decide if you need to make your brand transparent or not. If yes, what are the perks?
What Is Brand Transparency?
Before we explore the role of transparency in promoting a brand, let’s define it first.
Brand transparency is the practice of adopting an open way of treating customers and being honest with them. By rendering their businesses transparent, entrepreneurs make their brands compliant with the latest trends of modern commercial culture. Also, adapt their businesses to the key needs of the modern customer, and keep pace with the innovations.
Moreover, this information has become the subject of interest of many academics, who explore modern marketing trends through their marketing case studies.
Getting rid of the outdated conventions and principles of running a business is what brand transparency, in fact, entails. Making a business transparent means cutting away from the old-fashioned rules of cooperating with customers.
How Can Brand Transparency Benefit Your Business?
The customer of the digital era shares very little with customers from two decades ago. Armed with boundless knowledge and spoiled with the versatile goodies of modern life, the people of today are harder to entice with marketing. The customer of today is a picky, whimsical, and smart individual that needs more than just a bright advertisement and presentation to get hooked by the brand.
Yes, the consumers of today will inquire exhaustive information on everything they buy or order. And what today’s consumers need is truth and openness from the brands that offer them products and services! Brand transparency can satisfy their needs for quality, customer-oriented, innovative treatment from a business.
Now, let’s take a closer look at how exactly brand transparency can add some points to your business.
Creating solid grounds for trust
By making your business transparent, you open doors for customers to take a peek at how your business works, how the goods are produced, and how services are developed. And this is what hooks consumers like nothing else. They are driven by the need to know the truth.
Furthermore, removing the veil from the brand’s image and introducing customers to its process makes the business trustworthy to customers. Thus, clients will give preference to your brand over other less transparent and open-minded businesses.
Overshadowing your competitors
Nowadays, there are billions of brands that offer similar goods and services. The decision-making process is rather hard & confusing for customers. When brand transparency comes into play it opens up a whole new advantage over competitors who still follow the old-school, non-loyal principles of dealing with customers.
Implementing the culture of brand transparency will allow you to develop a crystal-clear image for your brand, eliminating any shade of doubt or distrust that consumers might have of your brand.
Despite the tendency towards going transparent, the commercial industry does not boast a large number of brands that feature brand transparency. Thus, through adopting this rare and customer-friendly practice, you can indeed lead a company with loyalty and use brand transparency as your trump card.
Social media promotion
Satisfied with the liberal and innovative policy of transparency, your customers will most likely want to share their joy with others via social networks. And, given the popularity of the grand impact of social media, the promotion enhances brand image and increase the number of clients coming to your way.
Are There Any Downsides to Brand Transparency?
Undertaking brand transparency in your business is a long and painstaking process that might cost you time & money. It’s easier to lose focus indulging in the commercial culture of the company, setting aside essential aspects for the healthy functioning of the organization.
Ultimately, nothing will be good enough to make it transparent. That is why it’s important to be sure to allocate the time and funds to go transparent in a professional manner.
The ideation to implementation of brand transparency to your business is a tedious process that requires expensive and time-sensitive steps. To adopt this policy, you need to optimize all the processes and important facets of your brand, revamping the entire commercial and marketing cultures that your business has employed.
This means that only financially stable companies with trained and dedicated staff can afford to go transparent. Although largely beneficial, the brand transparency policy can disrupt the normal functioning of your business and affect its performance.
It’s all exposed
By providing customers with wide access to your business, you should prepare for the clients to discover the flaws of the company. And yes, while it’s quite normal that a brand may experience certain difficulties and challenges, exposing them to your customers is somewhat risky.
A great solution to this can be reducing all possible flaws your company may have, but has the commercial industry ever known a business that was perfect and impeccable? In this regard, the best solution seems to be letting brand transparency into your business and doing your best to eliminate everything that might devalue your brand in the customers’ eyes.
Another big challenge when adopting the policy of brand transparency is information leaks. Yes, by inviting customers inside your brand, you risk having information stolen or simply suffering an information leak, where your data will get exposed not as a result of unlawful activity but as an accident.
That said, you need to provide maximum protection to your company so that no information will leak as you introduce customers to its performance. Going transparent gives you a lot of perks and advantages – however, information leaks will have a potentially large impact on your business unless you take measures for safeguarding your brand.
The Bottom Line
The commercial industry as we know today requires brands to keep pace with the trends and innovations that modern customer behavior dictates. Yes, it’s no longer enough to develop a fancy presentation of your brand to entice consumers – empowered with the opportunities and information of the digital age, customers are extremely difficult to attract. And brand transparency is one of the few solutions that allow entrepreneurs to appeal to consumers and earn their admiration and respect.
Equipped with the techniques and policies of brand transparency, your business will possess all vital qualities that are so deeply admired by modern customers. By including this feature in the image of your brand, you put a lot of things at stake, but the game is definitely worth playing. Despite the possible risks that brand transparency entails, it can do wonders with the performance of your brand and the image it will have in the eyes of the customers.