Authenticity the Key to Growing Your Business

keysWhen it comes to content marketing, you can try all the advertising, promotional, and PR ploys, but authenticity remains key. What is authenticity, you might ask? It means staying true to your business values:

It may sound like a no-brainer, but very few companies are able to withstand internal pressures or external turbulence without losing their authenticity, according to a recent study.

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:

Be real
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.

Be charitable
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.

Be consistent
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.

Be responsive
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.

Respect privacy
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 competito

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Are You Doing Too Much?

Once a business is established, it’s common practice to add products and services in the name of diversification and the desire for more profits. It’s a wise business move to choose products and services that will appeal to customers you’re already doing business with.

But what’s the point of diminishing returns? When does adding more products become less profitable or even start losing you money?

Lego is known for its beloved interlocking toy bricks. The company has been around since 1949. You and your children have probably built many fun projects using their colorful, iconic blocks.

As with many other successful brands, Lego decided to diversify. The Denmark-based company added games, movies, clothing lines, and six themed amusement parks (Legoland). Lego added many new colors to the primary colored bricks originally available. Costs were added at a much higher rate than new profits to pay for all this diversification.

The once very profitable company began bleeding red ink. A new CEO (Jorgen Vig Knudstrorp) was brought in to fix the problem. One of the first questions he asked was this: “What do we need to stop doing?”

Beginning in 2005, Lego sold the theme parks and whittled down half of the brick colors. They became more efficient and creative at doing what they were good at by concentrating on less rather than more. By the end of the same year, Lego was profitable again.

Sometimes the answer to doing more is to actually do less. Doing less frees up time and resources to concentrate on the key products and customers that bring you the bulk of your profits. If you have too many services or products, start considering what things you should stop doing, so you can focus instead on what really matters.

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