Is Full Disclosure a Bad Idea For Business Blogs?
In today’s current business world, the media is more savvy than ever and so are consumers. This has led many companies to adopt a full disclosure policy on their business blogs.
Is this policy right for you? Let’s look at a few of the upsides and downsides of full disclosure.
1. Public perceives your company as honest.
Everyone loves it when a company owns up to mistakes, takes the high road and is brutally honest about their business deals. It is always refreshing to see a company that is willing to take that risk to be more open with the public and share what is really going on inside.
2. All press is good press
Blogs that deal with full disclosure typically get lots of traffic and they are able to quickly generate a lot of buzz. This is really only useful if there is a way to turn what they are talking about into a positive light, but overall, when it comes to getting attention, full disclosure usually gets the job done.
1. Is brutal honesty always the best policy?
If your company just took a major financial hit, does the public really need to know about it? One of the main problems with adopting a full disclosure stance is that it can really hurt you when things get tough.
It’s one thing to say that the company is going through a rough patch, it’s quite another to get into details. This hurts your bottom line, and if you have investors, they may not appreciate your honesty with the public, especially if it affects your stock prices.
2. Bad reputations take only a few seconds to make.
It can take years to build up an image of business responsibility, but trashing your company’s image can only take a few seconds.
Full disclosure often means talking about things that put your company into a decidedly unflattering light. If you feel your company can rise above that, terrific, but some companies never recover after a blogging disaster.
Weighing All the Options
Now that we’ve gone over the good and bad side of full disclosure, it’s time to get really serious and think about how it could affect your company. Do you have investors?
If you do, this is probably not the best policy for your business blog. The risks far outweigh any benefits.
Is your company fairly new and so far scandal proof? In this case, then a full disclosure policy can help build a solid reputation around your company and present it in a good light.
You may change your mind however the instant the first bad piece of news hits the press.
Lastly, what do you want people to think of when your company name comes up?
If you don’t want the latest blogging fiasco to be at the tip of everyone’s tongue, a little mystique is probably a good thing. Blogging is a balance, and it’s up to you to decide how much information you want to reveal.