Thursday, December 25, 2008

Transparency in Marketing

I recently updated my business website, and took a big leap that sometimes keeps me up at night: I published my firm's hourly rates. This is a big departure from typical firm operations.

I chose to do it because I believe that today's consumers want transparency; they want to know what they are going to pay and what they are going to get for what they spend. Despite having this desire as a consumer myself, I kept my business rates clouded and a little bit confusing up until a few months ago.

It's interesting: at a restaurant, they will put their prices right up front, but they will keep their recipes secret. In a retail store, each item is marked, but they may not tell you from where the item came. In a marketing firm, they usually keep both their pricing and their methods somewhat secret.

There is a great video about this concept that you might want to check out: The Benefits of Radical Transparency. Let me know what you think!

No comments: