Transparency is imperative when running a business. If your business isn’t transparent online, you run the risk of creating negative customer experiences, which could lead to bad reviews and low profit margins.
One way to work around this is to put a focus on digital transparency, so you can make sure that you are always being open and honest with your customers, and your team.
Transparency and completeness of information
Transparency isn't just not hiding information, it's about making that information accessible. Take this Temple Tumble slot game, for example. The RTP rate is listed at 96.25%, with clear headers that tell the user how to get free spins, and what happens when you trigger a bonus.
This helps to give the user a clear understanding of what to expect before they launch the game so that they launch the game. Transparency like this is key to gaining trust with your customers, and it’s a clear example of how transparency stems far beyond pricing when providing a service or product.
And whether you sell products or services, you have to make sure that your prices are both clear and available. Try to avoid using complex pricing structures or methods that stop your customers from truly understanding your prices. This includes having a pricing page with no pricing option listed.
Although you may want your customers to get in touch so you can provide them with a custom quote, you should at least have guideline prices, such as “available from $500” so your customers know what to expect. Companies that do this well include KoRo Drogerie and Everlane.
Communicating with Customers
A lot of businesses avoid publishing information about big news reveals, and instead, tease an announcement without any details about it. The business side of the music sector is a prime example of this. Some festivals tell fans that there’s an announcement incoming, but don’t mention a time or date as to when they should expect it.
This can be frustrating, and it also results in you missing out on an amazing marketing opportunity. By simply posting a graphic of a time and date, you can build anticipation, and encourage people to check their socials at this time. Download Festival and Fortress Festival do this brilliantly, with fans opening discussion forums, just to talk about the rumored bands that could be included in the announcement.
Transparency helps to keep messages clear and concise, which is so important in the world of marketing. Companies like Bemoved Media do a good job at explaining the importance of it within a campaign. If you have a new product launch, tell your customers what time it’s going to happen, and if something happens to delay the launch, be honest about it.
Don’t try and pin the blame – your customers will most likely see right through it. Instead, be open and explain exactly what happened. If you can adopt this approach, your customers will appreciate it, even if it involves some degree of disappointment.
The same concept applies if you’re late with a delivery, or fail to provide a service as promised. Simply be transparent about what happened, rather than making excuses.
If you can do this, you’ll find that your customers trust you more and that they are more loyal as a result. This is something money can’t buy, but by implementing honest and transparent business practices, it’s certainly something your brand can capitalize on.
