Why Transparency Is The New Marketing
Do you know one simple way you can generate more traffic and sales? It’s actually by being transparent.
Being open about your business is a great way to gain people’s trust and loyalty. By sharing problems you maybe facing, or by sharing your financial numbers (whether they are good or bad) will help you build a larger following.
And with that following, you’ll be able to convert more of your visitors into customers.
But don’t just take my word for it. Let’s look at some companies that share their numbers with the public to their benefit and how you can replicate their successes…
For example, in the article I linked to above, they discuss how they lost 5.7 million dollars in 2022. They talk about their lessons, the progress they made, and the areas they can improve upon.
And it’s not just Moz. Groove also reveal their revenue numbers every month.
To follow along their journey, you have to subscribe to their blog, which helps them generate more traffic. And in exchange, they share their lessons and strategies they use to grow their company.
You don’t have to have a software company or service-oriented company to do this. You can do the same as a blogger. Just look at Smart Passive Income. Pat Flynn has been sharing his monthly revenue and profit numbers every month since 2008.
What’s interesting about the revenue Smart Passive Income generates is that a lot of it is affiliate revenue. And a good portion of it comes from people reading the income reports and clicking on their affiliate links.
Does transparency really work?
Just look at the three examples above. Not only have these companies’ revenues been climbing, but their traffic has been as well. According to Alexa, Moz is the 360th most popular site on the web; Groove is the 13,405th most popular site; and Smart Passive Income is the 7,092nd most popular site.
It works so well that I am taking a page out of Groove’s book and redesigning my personal blog to share my journey to 100,000 monthly visitors.
By sharing my traffic numbers and lessons, I am hoping to generate more visitors than I am now.
I know what you are thinking though… If you share your numbers, your competition can copy you, right?
It’s actually not the case. Even if you knew everything your competition is doing, what works for them may not work for you. Just look at Moz. If you are a competing SEO software company, knowing their revenue numbers won’t help you beat them.
Because you don’t have their traffic numbers. It’s not easy to take a website from zero to a million visitors a month.
Transparency is everywhere
It’s not just the web where transparency is working. Just the other day, I was eating dinner with a friend in Los Angeles. Next to us was a lady of my mom’s age, sitting all by herself.
We struck a conversation with her, and within an hour, we heard her life’s story. She told us that she was educated in England, that when she was younger she lived in New York, and that she focused her career on selling art to rich people.
She even told us that she has dated people just because they were rich and that she is tired of doing that and is looking for true love now.
People typically aren’t that open, especially the first time you meet them. But she seemed nice and genuine. Sure, some may judge her in a negative way based on what she said, but it’s her life. As long as she isn’t harming anyone, she can live it the way she chooses.
And because of her transparency, I will probably end up doing business with her one day. She was teaching me how I could make money investing in art and was giving me examples of what to look for.
Of course, I’ll verify if the information she has told me is accurate because I don’t know much about art, but assuming it checks out, I don’t mind investing in it.
So why not be yourself with people? Lying and beating around the bush will just make your life my complex.
And if that story doesn’t convince you, just look at Buffer. They received 381 comments on a blog post that discusses everyone’s salary within their company. It not only helped them gain thousands of visitors and new customers, but it also helped them gain a lot of respect from other entrepreneurs.
With so much information being out there, why not be transparent? It’s just a matter of time before your competition knows what you already know. So why not just put it all out there and gain traffic and revenue from it?
I know I’m going to start being more transparent. I’ll test it out with NeilPatel.com over the next few months, and if it works there, I will start implementing it with some of my other businesses.
So, what do you think about transparency? Are you going to start sharing your numbers and knowledge?