ROI of Transparency: A Consumer Market Research Study Reveals the Connection Between the Level of Corporate Transparency and Sales
NORTHAMPTON, Mass., Nov. 14, 2018 PRNewswire — Pure Branding, a strategic consulting, market research and brand development agency, today released its ROI of Transparency: A Consumer Market Research Study, which distills feedback from more than 1,000 Americans about their attitudes, perceptions and sentiment on corporate transparency, and transparency among the brands they purchase. In today’s world, where most consumers think brands lie, this new report confirms that a company’s level of transparency directly and positively impacts sales. Available for purchase on Pure Branding’s website, the ROI of Transparency report features specialized market insights for the clothing and apparel, dietary supplements, food and beverage and personal care industries.
“This report confirms that a company’s level of transparency directly and positively impacts sales.”
“Based on survey responses and analysis, it is clear that being perceived as transparent adds to a company’s brand value. However, a company perceived as not transparent risks negative consequences,” said Yadim Medore, founder and CEO, Pure Branding. “No longer is it the case that transparency is a plus, and its absence merely a missed opportunity. Today, being perceived as non-transparent is actively damaging to a brand’s reputation, and a company’s bottom line. If company leadership doesn’t have a transparency strategy, they’ll fall victim to competitors who do.”
Sampling of Findings
The 160+ page report profiles varying degrees of transparent consumer personas based on the study’s findings, and features data that shapes the corporate discussion of transparency. A sampling of findings includes:
- The industry with the lowest perceived level of transparency.
- Congress – only 5% of respondents perceive Congress as transparent.
- On the flip side, personal care companies, food and beverage companies and technology companies are most likely to be perceived as transparent.
- Brands lie.
- 65% of respondents believe that most brands lie at least some of the time.
- 54% believe the brands they currently purchase are not always honest.
- 82% of respondents will forgive a brand that admits to mistakes.
- Show the bad with the good.
- More than a quarter (26%) of respondents believe that a transparent company openly engages with its public via social media and does not shy away from negative comments.
- A significant contingent of Millennials (29%), as well as Gen Xers (28%), believe a transparent company should openly engage with negative comments on social media.
- Can transparency lead customers to pay more for a product?
- With 73% of study participants saying that transparency is valuable to them, a majority of consumers indicated that they were either more likely or very likely to pay extra for products from more transparent companies.
“All too often we meet marketing, sales, operations, human resources and legal professionals who are tasked with making their company more transparent, but they don’t know where to start,” continued Medore. “This report provides the insights needed to convince key stakeholders about the advantages of transparent practices, while giving company executives the information they need to prioritize the decision-making process.”
For more information on how to purchase the ROI of Transparency: A Consumer Market Research Study or about Pure Branding, please visit www.purebranding.com/transparency.
About Pure Branding
Pure Branding is a strategic consulting, market research and brand development agency for integrative health and wellness companies. The agency specializes in guiding dietary supplement, functional food and personal care companies to achieve brand clarity. Since 1999, the company has helped global clients build loyalty and grow market share through innovative research and actionable insights. For more information about Pure Branding’s services, visit www.purebranding.com.
For more information
Andrea Martin (on behalf of Pure Branding)
Andrea D. Martin Consulting, LLC