Transparency on social media is something I've never really struggled with: my Twitter feed is probably about 40% Marketing, 35% Politics and 15% memes which is a depressing, but accurate, summary of my life. No surprise though that the stakes are a lot higher for Businesses.
In fact, according to a study from Sprout Social, businesses have the most at stake with regards to transparency on social media. According to the survey 81% of respondents viewed Businesses as having a responsibility to be transparent when posting on Social Media, outranking Politicians (79%), CEOs (77%), and even their Friends and Family (66%).
Check out the article for a nice summary of the findings - it's a great reminder that whilst operating in the era of "Fake News", a bit of honesty goes a surprising distance.
The report shows that customers are more loyal to companies that reflect those qualities and are willing to walk away from those that don’t. For example, a stunning 89 percent are willing to give transparent brands a second chance after a bad experience, and 85 percent are willing to stick with them through a crisis. Stakes are even higher for companies when it comes to their actions on social media. More than half of the consumers surveyed (53 percent) say that they are likely to consider a brand that’s transparent on social for their next purchase. But a lack of transparency can lead 86 percent to take their business elsewhere.