That’s right – demand for transparency is on the rise. We’ve seen a 29% increase in reviews mentioning trust and authenticity. And according to Forbes, over 90% of people see transparency as important in their buying process.
For the brands that get transparency right, there are profits to be had. Because when customers can count on you to deliver, they’ll be more likely to buy again. In fact, over half of people say they’ll be loyal to a company for life if it provides complete transparency.
So with all that in mind, here are three ways you can become more transparent as a brand.
1. Keep it real with your customers
Transparency revolves around being open and truthful to the people you serve. You need to say it how it is – because while you can’t always be perfect, you can be honest.
- Be clear about your data usage. Despite data regulations tightening, people remain concerned about how you’ll use their information. We’ve seen a 36% increase in reviews about data privacy concerns over the last decade. Simplify your terms and conditions to make them easily understandable, so customers feel safe and secure doing business with you.
- Explain how your prices are determined. Our recent report found that hidden fees were a common theme in negative reviews written over the past year. A direct explanation about your pricing will help you establish trust with customers. It also encourages them to stay loyal when pricing changes.
- Show your commitment to positive change. Share your ESG efforts with your customers and get them involved where you can. For example, you could plant trees in exchange for their feedback. Not only does this help the planet, but it also makes customers feel good knowing they’re supporting a brand that drives real impact.
2. Open up the conversation
Displaying reviews is a great way to practice transparency. 84% of people trust them as much as personal recommendations. And customers spend 31% more with businesses that have excellent reviews. When people see their peers endorsing you, they’ll feel comfortable to do so as well.
Of course, your reviews need to be verified – otherwise they could come from anyone or be designed to mislead. Make sure you choose a provider that only invites proven customers to give feedback (like Feefo).
If you already collect reviews, that’s great – but don’t pat yourself on the back just yet. Replying to them will take your transparency even further. If a customer leaves positive feedback, thank them. If they leave negative feedback, tell them how you’ll resolve the issue and do better next time. Replying to feedback humanises your brand by starting an honest, two-way conversation. And if that wasn’t enough, it also makes people 97% more likely to buy again.
3. Give your customers the inside scoop
This is another powerful way to show the human side of your brand, and by doing so, prove you operate transparently.
Start by spotlighting your people. Highlight their achievements on social media and explain their roles on your website. If your products are handmade, you may want to tell customers who created them. Take the cosmetics brand Lush, for example. They add stickers to each product, to show customers the name and face of the person who made it.
Speaking of product manufacture – be transparent about that as well. Many consumers use products without truly knowing what materials or ingredients they contain. Letting them in on the secret is a great way to demystify your brand and build trust with your buyers.
It may be as simple as posting behind-the-scenes glimpses of your factory on social media. Or you could share work-in-progress projects, to create a sense of exclusivity and build anticipation before launch. Few businesses take this approach, giving you another chance to stand out from the crowd through transparency.
Honesty is the best policy
94% of people are more likely to be loyal to a brand when it commits to transparency, and 15% say they would advocate for a brand that is transparent in its practices.
Clearly, honesty is the best policy – not just from an ethical perspective, but for generating profits as well.
Operating openly and transparently means putting your customers first and maintaining clear, two-way communication. At Feefo, we’re here to help you listen to, learn from, and connect with your customers, so you can offer them a valuable relationship built on trust.
What's next?
Businesses that want to understand how evolved their customer insight process is can take two minutes to complete our business questionnaire. Once complete, download The Leader's Guide to Customer Experience for actionable insights on how to improve your business immediately.
Wherever you are on your journey to transparency, we’d love to hear from you. Get in touch to learn how we can support you.
