In today's society, there are few questions that cannot be answered with a simple Google search. While companies and business entities could once keep private information away from public view, now even the deepest secrets of most organizations are available at nearly everyone's fingertips.
And now, more than ever, in this world devoid of private barriers, it is important for companies to practice transparency towards their target audience in order to achieve success. In fact, while your target audience could quickly uncover any and all truths about your business in a matter of minutes, being transparent and open will help your company in the five following ways.
- Establish an honest relationship
Perhaps the most important payoff of transparency is the creation of an honest relationship between your business and your current or potential customers. Instead of practicing deception in hopes of misleading customers, being honest can show your true commitment to possible clients. But will honesty really help?
Consider the example of Personal Comfort, a U.S. mattress manufacturer. Craig Miller Jr., the company CEO explains: "We offer high quality products and back up our quality claims with facts, this sometimes takes time and extensive detail to explain that our mattresses are worth the purchase. This honesty is what helps build a strong relationship with our customers".
Most businesses make mistakes throughout their existence; yet very few choose to own up to these mistakes without an excuse that avoids liability. By owning up to mistakes, or even admitting to the consequences of your actions, you are demonstrating to your target audience that you will remain accountable for the effects of your business, further building trust between each other.
Of course, if your business constantly practices accountability, it will, in turn, develop a sense of credibility among the target audience. If your key demographic understands that your organization is prepared to admit fault and take responsibility for its actions, they will be more likely to see you as a credible source of information.
Furthermore, your target audience will be more eager to conduct business with you, as opposed to with another company that has not shown such commitment to transparency.
Numerous organizations are the targets of negative allegations regarding their products, services, or actions, many of which may be based on false pretenses. Of course, the target of such words may take legal action to quell these declarations and recover compensation for any harm; but generally, once an allegation or rumor is started, the damage is done.
This damage can be mitigated, however, if a company practices transparency from its inception. If the organization is committed to being as transparent and open as possible with its target audience, it is less likely that any accusations will have any serious negative harm on the course of business. Instead, the current or potential customers can examine the company's reputation of transparency and stay loyal as these false claims are debunked.
Finally, companies that practice transparency in today's society are certain to command a sense of loyalty from their customers. In fact, customers are more likely to stay committed to a transparent organization simply because this type of honesty is so difficult to find in the modern age.
Far too many businesses are working hard to cover up past mistakes or spread liability among other parties, that tired consumers would much rather invest in a business that has no interest in deceit.
Consider the Benefits of a Transparent Organization
Are you interested in gathering a greater client base and commanding loyalty among current and potential clients? In reality, there may be no better way to achieve these goals than by maintaining transparency in your organization, which will help build trust and credibility, and ensure your customers are satisfied.