The Importance of Transparency in Business
Transparency has become much more than just a trendy marketing term. The topic of transparency carries exponential weight in today’s competitive business environment. Everyone from executives to employees to customers, are talking about transparency.
Why? It’s simple – transparency builds trust.
Companies shouldn’t be scared by the idea of transparency. Instead, it should be embraced to improve service and increase customer loyalty. There are many studies that have revealed the power of transparency and that customers are happier when they feel they’ve been made part of the process.
So how do you practice transparency as a company? Let’s dive into four practical examples.
Be internally transparent
Transparency first starts from within. If not everyone in your organization believes the company is transparent, then they’ll have a hard time portraying transparency to your customers themselves. Lead your company with an open book and do things like hold meetings to update the entire staff on progress, risks and opportunities going on within the business.
Be personally transparent
Pick a medium or two (this could be LinkedIn, Facebook, Twitter or really whatever you find your customers use) and share your genuine thoughts, ideas, likes and dislikes on topics that genuinely interest you. The concept of transparency must start at the top! And don’t hand out your social media to an external company, doing it yourself is the only way your online self will truly portray who you are and your thoughts.
Be transparent with your corporate objective
Ask yourself this: how can you expect your customers to be transparent with you if you don’t trust your employees enough to be transparent with them? For example, let people know that you’re trying to find a new supplier in order to improve overall quality, be open about what’s going on and ask for their help. Be careful not to make promises that you can’t keep and always be sure to share all sides of any discussion.
When people begin to start trusting your company through transparency, they will be much more forgiving is something doesn’t work out exactly to plan or an accidental mistake is made. It’s also important to own your mistakes if that is the case. Experiment with transparency and look for innovative ways to develop deeper, trust-building dialogue with your customers.
In the end, it’s clear that whether it’s in dealings with consumers or internal practices with employees, there’s a need for businesses to meet the employee and customer need for transparency in a real way, not just as an afterthought or a marketing tactic.
Contact Plow today to see how our transparent business practices can simplify your IT needs.
Headquartered in Brentwood, Tennessee, Plow is a Total Service Provider (TSP) with several distinct business practices that, when consumed together, offer our clients a unique, best-in-class experience that give them peace of mind, valuable time back and the economies of scale that come with having one partner that is focused on exceeding their expectations with every engagement.