Most of the value of a company is in its brand, says Jeffrey Hollender. He’s the founder and former CEO of Seventh Generation, a maker of environmentally-responsible products for a healthy home, and he spoke recently to a group of business leaders here at KSV.
There’s huge value in how people feel about – and what they “know” about – your brand. And these opinions can be very different from the message you think you’re putting out.
It’s important to insure the value of your biggest asset. But if that asset lies “out there” in the minds of your customers, how do you do that?
Enter social media, where people are talking about your brand, with or without you.
“The best way to insure the value of your brand is through transparency. That doesn’t always come easily,” says Hollender.
There is power in disclosing what you’re doing, especially when you’re the first in your industry to do so. You raise the bar, and set a standard of behavior. When you’re candid about your goals, and are willing to take a stand for them, you just might earn the respect of loyal customers, influencers, and brand evangelists.
Even when you don’t receive perfect marks for each and every action.
Next week, we’ll share how transparency through social media might apply specifically to smart grid and energy efficiency initiatives.