The element of authenticity in brand management is vital to building customer loyalty in today’s digital marketplace. Never has it been so easy for consumers to share their opinions about a product or service, making it imperative for companies to be transparent in handling customer feedback.
If a company has values and morals and is honest in their communications about their brand, consumers come back for more.
So, what does it take for a brand to be recognized as authentic and how does it affect their profitability? To be perceived as authentic, a brand must convince their customers that they are true to their core values in all aspects of their business. They must consistently align their marketing efforts with their mission statement, act with integrity at all times, and stand for more than just making money.
What Makes Branding Truly Authentic?
According to a study published by Cohn & Wolfe in their Authentic Brands Report, what consumers want most is honest communications about a product or service. This branding strategy has proven to create customer loyalty for many large companies today.
Let’s take a look at a few of these companies and how they have benefited from brand authenticity:
Since 2016, Chobani has reached nearly $2 billion in sales. Clearly, they are doing something right.
It all started in 2005 when a Turkish immigrant, Hamdi Ulukaya, came to America and found the quality of our yogurt to be lacking. He saw the perfect opportunity to make a difference when he discovered a yogurt plant for sale.
After purchasing the yogurt plant in 2005, Ulukaya combined his passion for quality yogurt with his sense of duty to the local community. Also, his dedication to creating a well-paid, happy workforce prompted him to give 10% of the company to his employees in 2016.
Because of Ulukaya’s commitment to excellence, Chobani is now known as an authentic, trustworthy brand that consistently delivers a quality product. The company’s tagline represents their passion for excellence in all aspects of their business: “A cup of yogurt won’t change the world, but how we make it might.”
Zappos was founded to offer the most extensive selection of shoes and provide the best online services for shoppers. Founder, Nick Swinmum, and CEO, Tony Hsieh, built the company culture around ten core values that they continue to adhere to even as the company has expanded to produce over $2 billion in annual revenues. Their goal was to get customers to associate the Zappos brand with excellence in customer service, and they have done just that.
To ensure that their customers receive the best possible products and service, Zappos embraces some unconventional approaches in their organizational structure and their marketing campaigns. Their goal is to inspire customers and employees to see themselves and the world with a fresh perspective.
Zappos founders also encourage maintaining a company culture that embraces change and one that will deliver a “wow” experience. One of their core values is to “be adventurous, creative, and open-minded.” With their commitment to building a unique, positive, and transparent culture, Zappos has managed to remain successful despite the increasing competition.
How to Harness the Power of Authenticity with Your Brand
If you want to avoid being left behind in today’s competitive, ever-evolving marketplace, it is important to understand the mindset of the global consumer. According to Cohn & Wolfe, about 87% of global consumers say it’s essential for brands to “act with integrity at all times.’
To learn more about how a creative brand agency can help you harness the power of authenticity with your brand, contact the experts at Web Content Development today.