Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. Today we are looking at the trend to enhance brands through transparency.
Given the advent of the Internet and social media, it's difficult today for a brand, even when desired, to stay below the radar of its customers and critics. Stories, good or bad about the company, are shared, liked, retweeted or commented on instantly around the world.
Rather than sidestepping or avoiding this information-sharing capability, some brands are actively engaging such transparency. One company in particular, Everlane, is taking market openness to a whole new level.
Everlane is an online apparel retailer that believes consumers have the right to know what their products cost to make. At Everlane, they reveal their true costs, and then show customers their markup. They call this approach "radical transparency" and it positively reflects on Everlane’s desire to keep customers informed.
I firmly believe that Everlane's openness will transform pricing in the future, adding another strategy to the 7Ps of Marketing. Keep your eyes open for more companies sharing their manufacturing process and pricing with their customers. As you develop branding strategy, ask yourself how your brand can be more transparent to customers. Openness is "in" and embracing this trend may increase the strength and stature of your brand.
Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. Contact James Glover at (505) 501-1330 or email firstname.lastname@example.org. Listen to Ask Those Branding Guys™ every Monday at 11:00am (MDT) streaming live on SantaFe.com KVSF 101.5 FM.
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