Written by the Golden Bloomers International (GBI) account team: Sara McCauley, Sierra Gamelgaard and Terra Zicklin
Transparency is key for any company, organization or nonprofit to succeed on social media. Being active on social media is no longer a choice companies have. They need to be constantly monitoring, reviewing and engaging with their followers. Transparency is defined as the degree to which an organization shares certain information with its stakeholders. Being transparent can entail being honest about a company’s values to the public, as well as sharing financial statements openly with its employees, leaders and stakeholders. The act of being transparent on social media is not only ethical because it can lead to more brand fans or followers.
When a company practices transparency on their social media platforms, it appeals to the public because it shows a raw, human side and creates a more authentic brand voice that consumers will trust. A company’s online presence, good or bad, can give the brand a certain reputation and influence sales. Social media’s powerful impact on brand reputation is why it’s important for companies to be transparent with the public. Transparency can bring in new consumers and create better relationships with current consumers.
In addition, social media plays a role in determining whether a consumer uses a company’s service or buys their product. Today, it is too hard and risky to hide poor customer service or a lousy product from the public; anyone can tweet or review a company online in a couple of minutes. With the power of the Internet, companies need to be aware that anything considered “bad” business practice can come back to haunt them. As avid social media users, we are constantly online looking at reviews before we decide to use a service or buy a product. We have come to rely on the Internet as a way to trust companies. Here are some tips for companies to increase trust among their consumers:
- Be honest. Gain your consumers trust and always be truthful about your practices and values.
- Be human. Use employees and customers to tell your story as a brand. If you make a mistake, live up to that mistake.
- Engage with your consumers.
- Use your own voice. On social media, sound and act like a real person.
Check out this video to learn more about how transparency has become a game changer in the world of business!
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