by By: Sara McCauley
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Transparency is key for any company, organization or non-profit to succeed on social media. It is no longer a choice that these companies have, yet they still hold the power to control the strategies of being transparent on social media platforms. Transparency is defined as the degree to which an organization shares certain information with its stakeholders. This can range from its values, employees, leaders, culture and business practices. The act of being transparent on social media is not only ethical; it makes good business sense too because it shows the consumers and investors of a company that they practice CSR along with many other things.
So, is social media a truth serum for businesses?
In one way, yes. When an company practices transparency on their social media platforms its appeals to the public because it shows a raw, human side to an otherwise cold shoulder that people usually experience online. When a company sees positive feedback form their online campaigns or posts on Twitter, it guides them to post the information, like values and culture, that the consumers care about. A company’s online presence, good or bad, can give the brand a certain reputation and thus determine sales. This is why its important for companies to catch on to the trend that is being utterly and completely transparent with the public.
Social media plays a huge role in determining whether or not a consumer uses a company’s service or buys their product. In this day and age, it is too hard and risky to hide poor customer service or a lousy product from the public because anyone can tweet or review said company in a couple of minutes. With the power of the Internet, companies need to be aware that anything that could be considered “bad” business practices will come back to haunt them. As an avid social media user, I am constantly reviewing or looking up reviews before I use a service or buy a product from any country. I have come to rely on the Internet as a way to trust companies and as long as companies realize that transparency is the best option, they are in the clear.
Social media platforms is a tricky place where private and public figures can trip over their own shoelaces and create a mess, or use the fast-paced as a way to create better business. It is an easy way to really connect with the public and prove to potential consumer that a company can be trusted. Who doesn’t trust someone who is honest? It is always better to be transparent than to die trying.
Check out this video to learn more about how transparency has become a game changer in the world of business!
Sara,
I’m glad you touched on how online reviews or social media posts about companies can influence potential consumers. I’ll often find myself lost on the internet for more time than I would like to admit, because I’ll get caught up in reading reviews or people’s Twitter rants about a business. I feel as though people from our generation trust reviews on the Internet as much as they trust word-of-mouth reviews.
I definitely think that social media is a truth serum for companies. I trust companies who admit their faults/flaws online, because it proves that they are honest.
Great post. It’s important for customers to see that the brands they use are run by real people and with social media there’s no excuse not to be transparent. The less you say yourself the more others will say for you, publicly and online.
Sara,
Transparency has become so key in reaching the new generation of young adults. They want to have a genuine conversation with a companies, and companies need to understand their values in response. Spot on about reviews. They lead you to believe what others are thinking and often some of those people are company initiated reviews!
-Mike
@mikeeiden11