Use Social Media to Improve Your Openness

Thanks to technology, especially the Internet, consumers are used to having a pretty good idea of what is happening with companies. They expect companies to be open and forthright when problems crop up, and they expect access to information about what companies are doing with their money.

On top of that, many consumers also expect a voice when it comes to deciding the direction of a company. Consumers like to share their ideas with favorite brands, and feel as though they are interacting in a meaningful way.

Partnerships, collaborations, and engagement with stakeholders and consumers are rapidly becoming hallmarks of successful companies – and social media is a solid way to achieve these goals. While this type of openness might seem scary to some companies, the truth is that openness is a very important quality for a company to have – and it’s one that can make a big difference in your bottom line.

Here are some interesting findings about the importance of openness from IBM’s 2012 CEO study:

• Companies that outperform their peers are 30% more likely to point to openness as a key influence.
• Partnering relationships are at an all-time high, with more than 2/3 of companies planning to find partnerships.
• 73% of CEOs are interested in making strides when it comes to using available data to learn more about customers.
• Interpersonal skills are cited by 75% of CEOs as important to employee success in a complex and interconnected environment.
• 67% of CEOs cite communication as vital to success.

As you can see, a greater emphasis is being placed on openness and connectivity. A more open approach to communication is vital if you expect to succeed. Social media can be an integral part of that effort.

Using Social Media to Promote Openness

Social media provides an excellent channel for you to engage with customers and stakeholders alike. When you have a social media presence, you can reach out to customers, and interact with them on a personal level.

Social media offers you the chance to spread your message quickly and effectively. And, due to the nature of social media, it’s easy for your fans to help you spread your message as well. You can be a part of the conversation, and even help nudge it, when you are involved and a little more open. It’s better to be involved, and up-to-date, than to find out second hand when something goes wrong.

On top of that, social media can help you tap into what your customer wants. Real time information and reactions from customers can help you respond to the marketplace quickly, adding to your flexibility as a company. It’s a way to adapt to changes that can happen almost in the blink of an eye. Social media allows you to put your finger on the pulse of the market, and use real information from customers as you formulate your strategy going forward.

Social media involvement can also help you build up a loyal fan base. When things do go wrong, committed customers will be more likely to forgive you when you apologize up front. Social media can be a good way to respond to customer complaints (and praise) as well as encourage emotional investment from your customers.

Openness is the wave of the future, and social media is one of the easiest ways to engage customers on a personal level.

How are you increasing openness at your company?