According to a recent study, the purchasing habits of consumers are influenced by the social values of the brand. The study revealed that this was the case especially when the price and quality are set at similar values. This highlights the increasing demand for authenticity. In fact, the new standard of brands is authenticity. There are many imitation brands in existence, however, they are not sustainable. So, what then is authenticity? Why is it important for a brand to be authentic? You’ll find the answers to all these questions while learning how to create an authentic brand.
Brand authenticity is the degree at which a brand is identified to be honest in its dealings from the perception of its customers. This includes the level of faithfulness shown towards its core values, goals and customers. Authenticity is achieved by a brand when its purposes are in line with the values of its customers and employees.
Research by the BCG revealed millennial’s to place only loyalty discounts above authenticity when choosing the brands to subscribe to. Also, the advancement in technology has ensured that consumers can pay closer attention to their favourite brands via the internet and social media platforms. A brand is not authentic will surely be found out, and this can be bad for business. So bad, that it can drive down sales. An inauthentic brand will easily lose the trust of its customers, damage its reputation and reduce its chances of attaining success in whatever goal it set out for, in the first instance.
It is highly rewarding to set up an authentic brand. And doing so will position your brand to lead the pack. How can you go about this process? Here is what you should know:
Brand authenticity requires a high level of honesty and transparency. Whether you provide a product or service, you need to make a commitment to quality. Cutting corners will hinder your brand in the long run. Also, when your brand is not genuine, your attention will be divided as you will be spending more time trying to hide the inauthenticity of what you are offering.
Your customers are the live wire to your business. But as sad as it is, customers are wrongly often-treated as statistics, not as key elements of the business. A brand that does not understand the needs of its customer would not be able to provide the solutions needed. This can prove to be damaging to a brand. Understand the needs of its customers can really prove to be tricky, especially if the business is already in operation. It is much easier for brands that are just setting out in their early stages to accomplish. This underlines why authenticity must be adopted from the onset
Stories that are told provide information on how to handle the situations we encounter. The vision, which is powered by the brand’s culture, is central to the story of a particular brand. It is important that the story of the brand is told as it contributes to the way it is perceived by its audience. Everyone who has a part to play in the operation of the brand should be heard. This includes the top management personnel, clerical stalls, as well as the customers. When the story of the brand is told accurately, its customers will perceive it to be genuine.
Your values will determine the culture of your brand. The purpose of the brand in line with your core values creates a culture that drives your brand closer to its vision. Standing by your set values will ensure that you maintain a solid stance and you will be undeterred, even in the face of challenges.
Transparency fosters a close relationship between your brand and the outside world. When you reveal what you and your brand stands for, your customers will easily trust what you do.
Sometimes, the unexpected happens. When mistakes occur, admit it. Denying it might prove to be so counterintuitive, especially when you are found out. The stench of being hypocritical will linger in the minds of your customers. This can easily be averted when you own up to the issue and make genuine efforts to make amends. Doing so will bring you closer to your customers.
The positives of being an authentic brand outshine little benefits of not being genuine. When you give people a reason to care, you are making your brand authentic in effect. This will prove to be beneficial to your brand both now and many years to come.
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