The Purpose-Driven Brand
- 47 percent of global consumers buy brands that support a good cause atleast monthly, a 47 percent increase in just two years.
- 72 percent of consumers wouldrecommend a brand that supports a good cause over one that doesn't, a 39 percent increase since 2008
- 71 percent of consumers would help a brand promote its products or services if there is a good cause behind them, representing a growth of 34 percent since 2008
- 73 percent ofconsumers would switch brands ifa different brand of similar quality supported a good cause, which is a 9 percent increase since 2009
Another research group, Cone Communications, showed that 89 percent of consumers are likely to switch brands to one that is associated with a good cause if price and quality are similar; and 88 percent want to hear what brands are doing to have a real impact, not just that they are spending resources toward a cause.
This new state of consumerism doesn't just show people still have a heart and soul, it is a big flag to brands in all industries to integrate CSR or Corporate Social Responsibility into their brand fiber, customer experience and marketing programs.
I interviewed William L. "Toby" Usnik, Chief CSR Officer for Christie's in New York City, who maintains that CSR has moved far beyond writing a check and then emotionally moving on from a cause or community in need. It is about a brand's purpose being bigger than developing its return to shareholders. Validating Usnik is a recent article published in the March 21, 2015, edition of The Economist, quoting Jack Welch of GE fame as saying "pursuing shareholder value as a strategy was 'the dumbest idea ever.' " While that might be debatable, it is becoming less and less debatable, per the statistics above that show how defining a brand's purpose in terms of the social good it delivers to communities related to its business is anything but "dumbest"—and rather, is getting smarter and smarter by the day.
Jeanette McMurtry is a psychology-based marketing expert providing strategy, campaign development, and sales and marketing training to brands in all industries on how to achieve psychological relevance for all aspects of a customer's experience. She is the author of the recently released edition of “Marketing for Dummies” (Fifth Edition, Wiley) and “Big Business Marketing for Small Business Budgets” (McGraw Hill). She is a popular and engaging keynote speaker and workshop instructor on marketing psychology worldwide. Her blog will share insights and tactics for engaging B2B and B2C purchasers' unconscious minds which drive 90 percent of our thoughts, attitudes and behavior, and provide actionable and affordable tips for upping sales and ROI through emotional selling propositions. Her blog will share insights and tactics for engaging consumers' unconscious minds, which drive 90 percent of our thoughts and purchasing attitudes and behavior. She'll explore how color, images and social influences like scarcity, peer pressure and even religion affect consumers' interest in engaging with your brand, your message and buying from you. Reach her at Jeanette@e4marketingco.com.