There is a great deal of discussion about transparency. In business and in politics it has become an ever present buzzword. Since it is mentioned so often it becomes easy to dismiss it. That is a mistake.
Transparency is often used as a synonym for honesty. While honesty is part of it, transparency is more than being honest. It is ensuring that your customer (or any other affected party) knows exactly what you are doing and how it affects them. Case in point, a customer decides to cancel his cable service. He has been a customer for six years but has now decided to cut the cord. He calls to cancel his service and is told because he is still under contract he will have to pay a $140 early termination fee. How can their still be a contract after six years? During a service call 18 months earlier, the technician installed an upgraded box instead of fixing the broken box. Without informing the customer, the cable company signed him up for a two-year contract. In this case, the company was forced to cancel the fee, lost the customer, and gained a critic. While cable companies are known for this sort of behavior and are large enough to withstand the impact, what would happen to a small business?
Be transparent. It will benefit your customer engagement and your bottom line.
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