The Dalai Lama shared once said, “a lack of transparency results in distrust and a deep sense of insecurity.”
This simple statement expresses a typical consumer’s thoughts about companies or brands that are not transparent in their practices or description of their product’s ingredients. When distrust festers in the consumer’s mind, it becomes an uphill battle to gain back consumer trust.
When the Baby Boomer generation was in the coveted buying demographics of 18-49, businesses had to adjust to the taste and preferences of purchasing behavior. Similarly, Millennials have ushered in a new world, assisted by technology, which has evolved the purchase process and how information is searched and shared via social media. Hence, businesses’ go-to-market strategies have seen directional shifts that take place throughout the year.
Food providers have borne the brunt of this shift in behavior. From restaurants to packaged goods suppliers, the marketplace has seen brands redefine how they source, create, and package their products. Why? Consumers have overwhelmingly demanded it! Many consumers will not purchase a product that is not transparent about how the product was made, what ingredients were used, and if the packaging come from sustainable materials. Plus, many consumers will switch brands if it is made known to them that the company is transparent in their practices and ingredients. Fundamentally, consumers are going back to the basics.
Consumers, in many cases, will pay more for a product whose labeling is completely transparent. Using simple words to describe the materials used is also important. It is assumed that if the labeling contains words that cannot even pronounced, most consumers would assume it is not good for you and not purchase that product. If you want loyalty gains, it’s important to be transparent.
Trust can be earned with providing clean labeling on products. Even if your business is not in the food industry, taking a page from successful brands about transparency practices could provide a competitive advantage.
In a world where marketers are literally slugging it out to garner share increases, adhere to consumer beliefs and purchasing behavior. A smart marketer is one who constantly studies the marketplace and watches the evolution of consumer triggers that enhances the changes of gaining a purchase.
Adele Lassere is a marketing/advertising consultant, freelance writer and author of “Elements of Buying” (a self-help advertising guide), available at Amazon.com. Adele was listed as Black Enterprise’s 2016 Women of Power in Advertising & Marketing and 2013 Top Women Executives in Advertising & Marketing. Contact: [email protected]
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