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.
© 2014 Once
a Day Marketing™. All rights reserved.
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