Tuesday, November 12, 2013
Why Authenticity is the Key to Growing Your Business
How to apply authenticity
It all starts from the top, so set a vision that your company's personnel understand, embrace, and can implement. Then ensure that your "authenticity" motto aligns with your business goals, so you can clearly demonstrate to stakeholders such as investors and lenders that you have a growth strategy in place. Here's how to do that:
Sounds easy, right? But you'd be surprised how many companies lose their operational soul, delve into every sector deemed profitable, or adopt strategies that are counter to their mission. Define what your business does -- its mission and vision -- and stick to those core values.
Ever heard of something called "corporate social responsibility"? Well, CSR is one way an organization can give back to society-at-large and the communities in which it does business. Consumers love that, and it's a win-win for both the company and the aid recipients.
Don't give mixed messages that might lead to mistrust and confusion, both of which could make you lose customers down the road. Stay close to your values, mission, and vision as much as possible. For example, Apple's tagline is "Think different." All of the company's products and services somewhat match that slogan.
Back up what you say
To build trust and customer loyalty, your word must be credible. If you want to establish a solid reputation, make sure your company delivers on its operational commitments. For example, if "Maintain customer satisfaction 24/7" is your tagline, prove it to patrons in the way your handle things like complaints, merchandise delivery, and service quality.
The last thing you want is bad press, so don't let word-of-mouth tarnish the reputation you've spent years, if not decades, building and growing. Be quick in handling customer inquiries as well as questions from any other relevant party. Think regulators, business partners, activists, and consumer groups.
Build solid privacy practices in the way your company operates, especially when it comes to archiving online data. In this age, everything business-related is kept on the "cloud," so make sure your cloud provider has implemented effective policies to safeguard your company's data, as well as your customers' private information.
Cultivate your client base
To grow your business, you must cultivate your clientele. These include your existing and past customers, along with a mishmash of interested parties ranging from prospects to social media followers. It's important to cultivate fans because, while some may be unable to buy your product or service today, they definitely will in the future. Plus, they'll encourage their friends to do the same.
Polish your reputation
Don't spare any opportunity to polish your reputation, establish authority in your industry, or seize on a good PR occasion. Being authentic also means burnishing that authenticity every now and then, so everyone will take notice, including your competitors.