to determine how products were made.
Thus, being completely transparent up
front allows brands to retain control of
their image and shape the narrative about
their own products.
Millennial moms lead the charge
The study also found that mothers aged 18
to 34 emphasize brand transparency more
than any other consumer demographic.
They’re also the most willing to seek out
product information online and to pay
more for products that are produced with
transparency (a whopping 86% of millennial
mothers reported that they would pay more for a product
with full transparency). This demographic represents
upwards of $200 billion in spending power, therefore it’s
important to keep their preferences in mind, said Kline.
Brand transparency can produce
lifelong consumers
There are currently an unprecedented number of brands
competing for consumers’ attention. Determining which
products are actually worth buying can be a daunting task,
so when consumers find a brand they feel they can trust,
26 Spray August 2017
they’re likely to stick with that brand for the
long-term.
The survey revealed that 56% of those
surveyed said they would be loyal to a
company for life if it provided complete
transparency. Additionally, 81% said they
would be willing to sample a brand’s entire
range of products if they were comfortable
with its degree of transparency.
According to Robert Craven, there is a
common misconception about transparency.
Far too often, he says, companies see
it only as a tool to be used when owning
up to a mistake or righting a wrong. This
approach can be shortsighted and not an effective way to
build trust. Customers will be far more forgiving of mistakes
if a company has a history of being forthright with all
interactions, not just the negative ones.
Withholding or cleverly reshaping information is no
longer a viable option for this new era of consumers who
are savvier than any generation before them and for whom
skepticism seems to be a default setting.
Instead of being scared by transparency, businesses
should embrace it as way to improve service and increase
customer loyalty. SpRAy