It is getting more important for businesses to be aware and take actions for positive change.
Recent data supports the idea that a company's values and actions are directly tied to its success. From authenticity in their marketing and service delivery to the values they stand by, customers are paying attention.
86% of US Consumers Expect Companies to Act on Social and Environmental Issues
A study, which utilized benchmark data dating back to 1993, revealed that 87 percent of consumers said they’d purchase a product because a company advocated for an issue they cared about and more than 75 percent would refuse to purchase a product if they found out a company supported an issue contrary to their beliefs.
When it comes to sustainability, making good choices is not enough.
The time of integrating sustainable practices is being replaced by corporations actively transforming the market to make it more sustainable. There are examples of this popping up all over, partly because we are at point where is just costs less to do things the right way. Another big factor is that smart leaders are recognizing that for their respective industries to continue to thrive a long view must be taken and we need to restore, revive and sustain resources.
This trend does not appear to be changing either. With 88% of business school students believing that learning about social and environmental issues in business is a priority, and 67% plan to incorporate environmental sustainability into their future jobs our future leaders are already planning change.
There is a wave of pressure from impact investors that are driving publicly traded companies to make different choices and become transparent with their business practices. There is pressure from competitors and even in some cases insurance companies are recognizing unsustainable practices as a risk factor. This boils down a huge amount of public support for action. We, as business owners have the chance to lead change.
What does this trend mean to your business?
It means that whether you call it Corporate Social Responsibility or a Mission Statement you better know where you're going the larger effects doing business has. If your brand and marketing messaging is not communicating those values there is a miss and potential customers might be passing you by.
It takes more effort and an investment in the planning and foundational phase but getting clarity on your brand’s values is essential. Communicating those values throughout messaging and marketing will enhance your ability to engage customers, create brand advocates and drive more action.
Let's Start the conversation
Put a priority on looking at the value of your branding and invest in the resources you need to make it the changes needed to stay relevant. If you’d like to learn more about our services please fill out the linked form to start the conversation.