Consumers expect more transparency from businesses than they do from politicians, friends, or even themselves
credit: Robin Kurzer
The Social Media and the Evolution of Transparency report (free, registration required) surveyed 1,000 US consumers and found that an overwhelming number (86 percent) think it’s more important than ever before for businesses to be transparent.
These consumers define transparency as being open (59 percent), clear (53 percent) and honest (49 percent).
The report shows that customers are more loyal to companies that reflect those qualities and are willing to walk away from those that don’t.
For example, a stunning 89 percent are willing to give transparent brands a second chance after a bad experience, and 85 percent are willing to stick with them through a crisis.
Stakes are even higher for companies when it comes to their actions on social media. More than half of the consumers surveyed (53 percent) say that they are likely to consider a brand that’s transparent on social for their next purchase. But a lack of transparency can lead 86 percent to take their business elsewhere.
Perhaps surprisingly, 81 percent of consumers say that businesses have a responsibility to be transparent on social — a higher standard than they set for politicians, friends, or even themselves.
The report says that “increased accountability elevates the role transparent and authentic social strategy plays in successful brand-consumer relationships” but adds that stakeholders need to connect the dots.
From the report:
… Many stakeholders fail to connect how transparency communicates authenticity to consumers. Businesses must come to terms with the fact that the majority of people expect to have relationships and communication with brands that fuel a sense of personal and direct connection. The “always on” nature of social puts pressure on businesses to commit to transparency in advance, in multiple formats and in real time. said to “think of transparency as Teflon for your brand.”
SPYDER web marketing helps brands build their social media presence and engage their target audience, contact us to discuss how we can help today. 833 3 SPYDER / 833 377 9337
Jim is a Senior Digital Marketing Strategist Spyder Digital and has over 19 years of experience in the field. His insight and ability to drive new business for his clients from the Internet is unparalleled.
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