Information overwhelms the web and all companies try to attract customers to their business. It is a constant battle against the competition. The only way to attract the
user is to be different, to have certain products or services that customers can only find in your company.
This can be very difficult as there is so much competition in this global world that even creativity is undermined. It is difficult to provide a product that has not been invented in the internet age. But, another element that companies have to differentiate themselves from the rest is transparency.
If your business transmits the values it has, the transparency of your accounts, the steps it follows or its main objectives, the customer will know your company in depth and it will be one of their top. Thus, if you have a business that transmits confidence
and security, users will think of you when they need a product or service.
In this step, transparency marketingcomes into play, a term that can change the way some users view your company.
What is transparency marketing?
This concept embraces the requirement to share with your customers information about your employees, management, values, culture, business processes and the results obtained of your strategy . You may think it is better to hide information so
that competitors do not copy your ideals or ways of working, but opaque doors in a company drive consumers away.
In the digital world where it is very easy to see what each business does, it is longer only required to provide safe and useful products or services. Nowadays it is essential to transmit values related to social responsibility. Customers don’t just want to buy your product and go back home with it, no, nowadays customers need to know that they are cooperating with sustainable, charitable and transparent companies.
It has become a fundamental requirement for active companies on the internet as it is used as a way to differentiate themselves from the rest. Transparency marketing can be transmitted doing various actions such as:
Sharing employees’ stories .
Explaining how the company works.
Communicating mistakes as well as successes.
Broadcasting values that represent the company.
As you can see, these actions are related to trust improvement in the company. The more human side of your business will help you to get closer to your audience and make them trust that they are buying from a committed company.
Transparency marketing policies will help your company to create a relationship based on trust and assurance on the part of the consumer. In addition, this bondwith your lead will generate benefits such as improved sales and customer loyalty.
Ways of being transparent
Vulnerability
In the era of the perfect life in networks, companies carry out the same actions concise actions that align with the objectives to achieve. Each determined action must be related to a task, a person in charge and a date to finish it. In the end, you must create a plan that marks the difference compared to the previous one, that includes changes you have identified during your analysis and, thus, minimize the errors. In order to do that, you must create realistic goals that are achievable and are aligned with the company’s vision. as ordinary users, showing their most positive and successful side. We all want to show how well we are doing and the happiness of our lives. But this is not always the case. There are bad times when projects do not go the way we want them to.
That is why it is important to transmit the vulnerable side of our company to the user. With human communication, the consumer will see that they are not just buying a product, but a story. People don’t buy from companies, they buy from
people. This is fundamental to take into account because if we transmit a story that connects with them it will be easier to create a relationship of trust with the user.
Price transparency
Many companies have chosen to show both the prices involved in labour, shipping, materials and even the profit of the business itself. This form of transparency is highly valued by customers as few show what they earn from the sale of their
products. This practice is especially prevalent in eCommerce because it attracts consumers to buy from their shop, gaining trust through pure transparency.
It is reasonable that you do not want to show what you earn on your website, but it is a perfect example of how people want to be aware of everything that is going on in the company they are buying from. This price reflection helps the user to know that they are paying a fair price for the product they are buying and are not being cheated.
If you do not want to show your profits on the internet, you can take other actions such as creating content focused on explaining the price increase/decrease to gain the trust of your consumers.
Social transparency
Stories attract the consumer. If users see that behind a company there is human value, stories of overcoming, success and constant struggle, they will see themselves reflected and it will be one more reason to make a purchase.
Furthermore, if your company collaborates with humanitarian organizations; if it is committed to the development of sustainable products and local resources; if it hires people from third countries to give them a chance of a future or simply by collaborating in a monetary way, it is one more reason for consumers to buy from your company.
Reputational transparency
A good reputation attracts new customers. Therefore, it is important to take care of your company’s reputation among consumers and on the internet. When dealing with rumors or accusations, you will have all the keys to put an end to those negative
ideas that are going around.
In the case of performing a bad action, it is always advisable to apologize on behalf of the whole company, because when this is done well, it will be noticed by consumers. It is essential to transmit that the regret is real because if you apologize and the user feels that you are not being sincere, your business reputation will get worse.
How does it help your customer relationship?
The setting up of this process has numerous advantages in the relationship with the customer. As we have mentioned before, the consumer wants to be aware of what is happening in the company he/she is buying from, wants to know how it works and
what values it has.
This serves to verify that the values of the company are the same as those of the consumer. Nowadays, it is as important to have a good product as it is to transmit your thoughts about some areas of concern to users, such as sustainability or
humanitarian aid.
Trust, loyalty and honesty on the part of the consumer will be the elements that you will gain if you implement a transparency marketing strategy. Carrying out this strategy does not mean disclosing every detail of your company. You must create boundaries to know what information and data to share and what not to share.
Above all, it is essential to determine with whom you will share that information.
If you implement this process, you will not only get closer to your customer, but you will also be unconsciously advertising your business in a positive way. Good actions
attract good customers.
Future
Companies are increasingly creating working environments based on trust, honesty and shared values. This feeling must be transmitted to consumers. Customers value
the closeness of companies, their involvement and their recommendations and advice.
More and more businesses are basing their business philosophy on the transparency marketing strategy. Thanks to the implementation of this process, the closeness, loyalty and trust with consumers is multiplied.
It is essential to always think about the values we want to transmit, the concern for the consumer and their needs. Our growth will be greater if we base the creation of our company on the trust and confidence of consumers.
In addition, implementing this system will help you connect with consumers’ who share your values. This will make your job and that of your employees much easier.
Transparency should be the motto of all companies to create communities based on respect, trust and loyalty. Developing this strategy will bring you closer to your customers and help you grow with them. In spite of the hard moments that may arise, it is better to face them together with your customer and try to give them the necessary explanations to continue together.
If you have not yet developed transparency marketing in your company, don’t hesitate to try it because you will fall in love with this way of working that benefits both your customers and your way of working.
