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Open and Share

Open and Share

In a world today where consumer is king: knowledge-filled consumers and information readily accessible anywhere and anytime. It is important that we need to share our knowledge as well as being open in the way we do our business and marketing. There is no point in trying to keep our ‘secret’ of knowledge as well as trying to ‘fool’ the customers that we are the best. Customers today are smart and knowledgeable enough to know who and what is the best for them. In today’s world where building of relationship and emotional connection is the key to success; sharing of knowledge and being open are the building blocks of these two important elements. We need to share our knowledge and be open so that customers would be able to see us as an organization that is more living ‘human’ than rather as just an ‘object’ to do business with or just buy things from. Marketing Playbook and Church of the customer each gave an example of a company understanding the importance of these two elements:

Wal-mart shares its data, knowledge and business procedures with its suppliers and treats them as partners rather than adversaries. This allowed Wal-mart to begin a just-in-time inventory program that reduced carrying costs for both the retailer and its suppliers by implementing a collaborative planning, forecasting and replenishment (CPFR) program.

Progressive Direct, in their marketing campaign openly shows their competitors pricing as well as those lower than them. The reason that they are open about this is that they have position themselves as being honest and being more trustworthy.

We don’t lose much in sharing and being open to others but we definitely gain much more in building value and establishing trust and relationship – “You get what you give”.

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