To compete in today’s market, it is important for a company to build a relationship with its consumers to set itself apart from competition. Consumers want to know they are investing in a company they can trust. In order for the company to build a relationship and create trust with a consumer, it must become transparent and communicate with its public.
This communication must be maintained by communicating with its public about both the positive and negative changes going on in the company. The crucial component is communicating in real-time, when these changes are happening, so the consumer hears it from the organization. No person in a relationship wants to be blind-sided, especially a companies most reliable investors.
Communication is the key to getting any type of relationship through tough times. The best way to diffuse a blow out is by playing offense not defense. When something has happened, the best step a company can take is to notify its public. Owning up to the problem in the beginning can help resolve the issue in a calm manner and benefit all parties involved.
Yet external communication is not the only place where businesses can go wrong. A business exists because of the people behind the scenes. It can lead to bumpy roads when a company fails to promote fluid communication throughout operations. It should strive to build an internal relationship throughout the organization to promote communication and drive success.
Boris Groysberg and Michael Slind give advice on how to effectively promote communication in an organization, stating that companies should promote dialogue and engage employees to ensure the company is pursuing an agenda that aligns its communication strategy with its organizational strategy.
In order for a company to succeed, it is important to promote communication with its key public and employees to build a relationship that is worth the consumer and employees’ time and investment.