What is it?
According to a Forbes article, “Authenticity means being open to stories that normalize the experience customers have with a brand.” I know you may be asking yourself…huh?
Fair enough…so, let’s backup for a second, and take a look at the issue at hand – the value of trust. It’s an asset that is hard to come by, hard to measure, and can’t be found in any or your organization’s balance sheets. According to Forbes, “…only 52% of global respondents trust businesses. It’s even worse in the U.S., where less than half (48%) of respondents say they trust businesses. That’s down from 58% in 2017.“
This downward trend has forced organizations to “…rethink how to engage with consumers and restore the public’s confidence” with an organization’s brand. Throughout my blog, there has been a reoccurring theme of the need for an organization to create building blocks, with each of its activities. In this case, the activity building blocks involve establishing trust via authenticity, and they include: honesty, competence, and reliability.
Why Does it Matter?
Establishing trust via authenticity is as valuable an asset to businesses today, than it has ever been before. The reason is due to four trends, as defined by Rand Corporation’s “Truth Decay” Report, which include: “…[an] increasing disagreement about facts and analytical interpretations of facts and data; a blurring of the line between opinion and fact; an increase in the relative volume, and resulting influence, of opinion and personal experience over fact; and [a] declining trust in formerly respected sources of factual information.”
How to Establish Authenticity?
Building trust with users via authenticity requires personalization, which involves demonstrating an organization’s ability to connect with users, and is achieved by learning about a user’s needs/preferences, and tailoring a customer’s experience, accordingly, in order for organizations to create a connected experience with users.
Anyone that has worked for a large organization is probably saying: “Well, sure, but what about all of the bureaucracy?” To that end, the referenced Forbes article suggests that organizations need to “Humanize company and corporate culture,” adding “…to build brand trust, you should have authentic leadership. CEOs shouldn’t delegate authentic engagement. They should walk the talk and demonstrate that they are purpose-driven with a vision that encompasses the welfare of their employees and the greater good. CEOs should connect with people through channels that humanize them, including Facebook, Twitter, Instagram and YouTube. The erosion of brand trust is a trend that can’t be ignored. Companies that want to tackle the challenge head-on should thoughtfully evaluate how they are connecting with consumers at every touch point — online and off…’You can’t fake authenticity.’ Those who try may do so at their peril.”
“Social media channels can amplify these issues. Platforms like Facebook, Twitter and YouTube can accelerate the spread of misleading and inaccurate information. So what does this mean for brands that are looking to regain some semblance of trust with skeptical consumers? It means that they shouldn’t make authenticity an afterthought.”
Next week, I will discuss the User Journey – which is where an organization can/should direct their efforts following their “Authenticity Lane” starting point, in an effort to optimize a customer’s connected experience.
Brendan Hukill 