Sprout Social have just released the results of their survey which proves just how crucial a role transparency plays in social media for brands’ overall sales and growth.
1,000 consumers were surveyed, and were asked critical questions such as whether they believe brands have a responsibility to be transparent on social media, what role they expect CEOs to play in social media, and what proportion of brands they actually regard as being ‘very transparent’.
Here’s a summary of some key takeaways:
This survey shows that being transparent on social media can lead to some very powerful benefits:
Increase your sales: 33% of people surveyed say that they’d be more likely to purchase from a business if the CEO were transparent on social media. The likely reason for this is that it makes it easier for people to relate to a business if they have a friendly and relatable face to put to the brand name.
Improve crisis management: 85% of consumers say that due to a business being transparent on social media, they’d give that business a second chance following a mistake or the release of a piece of bad publicity.
Customer retention: A lack of transparency on social leaves 86% of customers likely to turn to a competitor to serve their needs.
Increasing your transparency on social media is definitely a strategy that can improve the overall growth and performance of your brand. If you want to read more about the survey conducted by Sprout Social, you can download the full report here.
Have any stories about the positive impact of brands transparency on social media? Let us know below and we’ll share your story!