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Consumers Want to See Open and Honest Yet Authentic Brands

Millennials are looking for honest brands both online and offline

· branding strategy,social media content,corporate strategy,social media usage,brand awareness

By Inspiringly

Today's consumers are increasingly sensitive when a brand's authenticity and honesty is concerned while organizations and businesses alike need to earn customers' respect in a global context of widespread distrust.

The findings of a survey by Sprout Social show that brands should drastically change their mindset if they are to be successful in the age of e-commerce and merchandise on social media channels. Such a change will require massive efforts, though, as traditionally brands are viewing broader transparency as a potential threat to their business strategy.

Over Two-Thirds of Consumers Want More Transparency from Businesses of All Sizes

According to the survey, an overwhelming majority of 86% of American consumers say transparency from brands is more important than ever before. There are no hints at consumers in other regions and countries expressing opposite views when brand transparency is involved.

But how one defines transparency, you might rightfully ask. Let's take a look at the responses by consumers and their definitions of transparency.

How Consumers Define Transparency

About 44% of consumers say honesty defines a brand as transparent. Openness is cited by 59% or respondents and clarity defines transparency according to 53% of U.S. consumers surveyed. Other responses include authenticity with 26%, integrity with 23% and communication with 19%.

All in all, consumers consider a brand honest when the company behind a brand is open (59%), clear (53%) and honest (49%).

And brands that apply a transparent approach across their social media and online activities reap the benefits of growing consumer trust, increasing sales and a better brand reputation. An honest brand also has greater chance for building broader brand awareness as the word spreads over social and community networks.

Transparency Expectations Grow Every Day

Expectations from consumers about brands being transparent grow daily but there is more than that; your customers expect you to promote values and not keywords.

Nine in 10 people say they are willing to give your brand a second chance if you have a history of being honest to them, which includes cases when the customer have had a bad experience.

Furthermore, 85% of respondents reveal they will stick with a brand during bad times if they believe it to be a transparent one.

How Consumers React to Brand Transparency

A chart showing that 53% of consumers will consider an honest brand for next purchases. Another 42% say they would recommend a transparent business to friends and family while 32% are willing to share a positive comment for honest brands on social.

Source: Sprout Social

What you get by being open and honest to your customers is not only a loyal client base but also the chance to be recommended by almost half of consumers on social media as well as get free positive reviews by nearly one-third of your clients.

Watch Your Step on Social

It appears that companies of all sizes and across any industry can benefit from being open and authentic in their actions on social media channels. It is a no-brainer that being secretive usually rises concerns among customers and rarely helps your brand reputation.

Do not confuse trade secrets with competitive advantages and disadvantages. Withholding information about your product/service or business practices will earn you reputation of a non-transparent i.e. untrustworthy brand, which is definitely not your goal.

This chart shows that 69% of U.S. consumers consider a brand non-transparent if they are withholding information, followed by 68% who think ignoring customer question defines a dishonest brand. Some 58% say that ignoring questions by employees is also a sign of non-transparency while 34% consider a brand non-transparent when the parent company avoids to comment on political and social issues.

Source: Sprout Social

Consumers are also increasingly sensitive about brands taking stance on political and social issues. It used to be the other way since a few years ago but now over one-third of U.S. consumers (34%) expect your brand to have a clear standpoint on various current events.

No brand can afford to ignore questions from both customers and employees anymore if the parent company is to retain its reputation as an honest business. You would better address all those questions very quickly as most consumers expect a brand to respond to queries and questions within hours, not days.

Having a content strategy that incorporates an honest and transparent approach by promoting values and not keywords will evidently pay off in the long term.

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