Daily Law Group
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Which has the greater buy-in: a product or business?

Regardless of what you buy, you purchase products for numerous reasons. You might appreciate the workmanship, appearance or price. But in some cases, there may be more to your choice. As demand for business transparency increases, consumers are able to make more informed decisions based on the company. There is a trend toward supporting businesses because of what they stand for, rather than looking for the lowest price on a product.

For example, when you buy diapers, you might consider which brands have a minimal environmental impact. Or you might only drink certified fair trade coffee. But if you consider starting your own business, do you understand the importance of transparency?

Educate your prospective customers on what is important to you as a company

Just as a consumer, numerous things will be important to you in your business. And while no company is perfect, providing transparency about your goals and desires for your company can increase brand recognition and loyalty.

While the quality of your product or service remains important, many consumers consider where they will direct their business based on a company’s:

  • Environmental impact
  • Social responsibility
  • Ethical business practices

Your company initiatives may look vastly different depending on your starting point or end goal. However, in a sense, providing open communication to your target market gives them the opportunity to choose the causes to which they invest their resources.

If you are transparent about the goals that are important to you and your company, your customers may buy into what you are trying to do and be more likely to spend their money on your products or services.

When you understand how business is about helping consumers drive positive change through their buying habits, you can integrate their desires with your bottom line.

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