Brands that do good, do well
Recent trust studies by Edelman have shown that people have lost faith in traditional institutions, believing that governments are unable to make a difference on the issues that matter to them.
More than ever, consumers are looking to brands to help solve societal and environmental issues. Consumers not only want to buy more environmentally-friendly products, they want to buy them from brands who are actively trying to minimise their environmental impact.
Did you know…?
In a global survey, 91% of consumers reported they were likely to switch to a brand that supports a good cause, given similar price and quality.
86% of consumers believe that companies should take a stand for social issues.
64% of consumers choose, switch, avoid or boycott a brand based on its stand on societal issues.
Plus, 72% of Gen Z-ers are willing to pay more for products that come from companies with strong CSR initiatives, along with 51% of baby boomers.
In a recent global online survey by Nielsen, ‘a whopping 81% of global respondents feel strongly that companies should help improve the environment. This passion for corporate responsibility is shared across gender lines and generations.
The ‘messaging’ is just as import as the ‘doing’ when it comes to green initiatives, as consumers are looking to spend their money with companies who share their eco-values.
With increasing frequency, brands are recognising this consumer shift. For example, Unilever have made commitments to make their brands more eco-friendly, and as a result, in 2019, they revealed their purpose-led Sustainable Living Brands are growing 69% faster than the rest of the business and delivering 75% of the company’s growth.
Today’s consumers are putting pressure on brands to act on the issues they care about, rather than the brand championing causes of their own accord. With this in mind, there has never been a better opportunity for cause-based marketing – for brands to create change while simultaneously driving sales.
The push to become more sustainable has driven innovation within companies, often making processes more efficient, reducing waste, and saving time as well as money.
For example, PepsiCo, in a bid to be more sustainable, have managed to generate over $600m in savings over 5 years through initiatives like reducing their packaging waste and water consumption.
As well as sentimental, there are revenue benefits associated to addressing societal or environmental issues as a brand.
“Brands recognised for high commitment to Purpose have grown at more than twice the rate of others” – Purpose 2020, Igniting Purpose Led Growth
Brands can no longer focus solely on their bottom line, but instead must look to supporting people and protecting the environment. Forward thinking brands and businesses are now reviewing their ‘Triple Bottom Line’, a framework that examines, and places equal weighting on, a company’s social, environmental and economic impact.
It’s important to find the right purpose that authentically fits with your brand. Our team at Creature & Co. are experts at navigating brand purpose and communicating this effectively to help drive affinity and loyalty with consumers.
Experts in creating content that engages and explains, quickly and simply, we always present a hopeful vision of our future, inspiring collective action.
Through the solutions that our team provide, we help brands devise and create powerful campaigns which help to change the world. Get in touch today to see how we can help your brand: [email protected]