Why Company Transparency Yields Loyal Customers
Have you ever wondered why you tend to buy products from a specific brand over other brands? While it’s true that many factors determine how we select the brands we buy from, there aren’t many ways that brands can attract loyal customers in the way that transparency does. And the reason for this is simple—the consumer base has simply gotten so used to seeing companies guard their data so fiercely.
photo/Gerd Altmann
A study by Label Insight in 2016 reveals that about 40% of customers are far more likely to switch to a brand that’s more transparent. Not only that, but more than half of respondents suggested that they are willing to spend more on a product from a company that promises full transparency.
And the reason for this is simple. – Consumers are more likely to connect with a company when they know what the company stands for and how exactly is that particular company trying to achieve its goals.
Not only that, but the more that the company is able to disclose about their product, the more consumers are made aware of what exactly it is they’re buying. Customers are also extremely appreciative of companies that are able to share the material analysis results on their product.
There are a lot of platforms that provide your customers with a semblance of transparency. But these are some of the most effective and also some of the most subtle platforms that you might want to use:
Websites
The first instinct of the smart buyer is to do a bit of research on the product. There isn’t a more likely place for the customer to search other than your company’s website. In general, it’s a frustrating thing for your customer when other sites provide more comprehensive information about your product than your site does. So, try to inspire some confidence in your buyers by ensuring that your information is accurate and complete.
photo/ Gerd Altmann
Social Media
These platforms have become more than an easy source to crowdsource self-esteem. They have become indispensable marketing platforms because of the fact that everyone and their mother has at least one social media account. This makes these sites the ideal platform to casually let customers know about your product.
Blogs
Having your own blog up on your site not only increases traffic and consequently boosts your Google search result ranking. It makes for an interesting place to put detailed information, whether it’s news about your products, upcoming events, and well, just about anything you might want to share in order to connect with your audience.
Physical Stores
Finally, physical stores are one of the most overlooked platforms where companies can display more information about their products. In-store pamphlets and signage actually has a big impact on buying decisions. This is especially true for customers who are just seeing the product for the first time and want to learn more about it immediately.
While these tips are quite easy to implement, it’s still staggering how a lot of companies still fail to make use of these platforms. What’s even more staggering is how a lot of companies actually fail to inspire loyalty in their customers because of their lack of transparency and customer relations. Don’t be like them. Use technology to your advantage, and reach a level you never thought possible..
AUTHOR
Vaan is a Psychology Major who is also an aspiring lawyer. He has about 15 years of writing experience and a passion for all things Law, Psychology, Sociology, Technology, and Fashion-related. When he isn’t typing away on his computer, he spends his time lifting at the local gym, honing his skills in Muay Thai, reading a good book, or shopping for the latest hyped-up sneakers.
