Marketers are turning to social media to reach out to their target audiences, and new research shows that it can pay off in the end to be transparent.
Sprout Social recently published the “From Risk to Responsibility: Social Media and the Evolution of Transparency” report and discovered that 86 percent of Americans believe transparency from companies is more important than ever before. That being said, 86 percent of customers say that they are more likely to take their business elsewhere if they see a lack of transparency from a company on social media.
About 40 percent of people who say brand transparency is more important than ever before directly attribute it to social media. Approximately 53 percent are likely to consider companies that are transparent on social media for their next purchase.
Measuring the ROI of Social Media Marketing Initiatives
Although marketers may reap benefits from utilizing social media and maintaining transparency on these platforms, they are not always seeing the ROI associated with their efforts.
Social Media Examiner conducted the “2018 Social Media Marketing Industry Report” and found that 38 percent of marketers are uncertain of whether they can measure the ROI of their social media efforts.
Out of all of the social networks being used for marketing, the majority (94 percent) said they were using Facebook to reach out to their target audience. However, just 49 percent stated that they felt that their Facebook marketing efforts were effective.