In the good old days, a great product or service would usually earn a customer for life. Today, shoppers are more particular about where they spend their money – so what does this mean for your business – and why does branding hold the key?
– 2017 Cone Communications CSR study
Once a minority – conscious consumers are now mainstream – in the age of information, and in the face of climate change, they’re here to stay. When it comes to purchasing, they are doing their research. They’re looking at websites for information on business and manufacturing practices. They’re checking labels before buying, and paying attention to public opinion on specific brands in the news or on social media.
What businesses need to consider is how they adapt to embrace customers who demand more corporate social responsibility than ever before.
At the height of consumerism, GDP and economic growth was a measure of society’s progress. Not anymore. A movement away from mindless consumption and towards simpler living has changed the way companies must think.
Growth must be strategic and sustainable. The good news is, like every challenge, there are opportunities for those innovative enough to act early.
– Dylan Williams
The best brands understand that sustainability covers environmental, economic and social impact. They raise the bar and challenge the status quo, finding ways to make consumption more sustainable while providing consumers with emotional and social wellbeing. The biggest risk for companies right now is to do nothing at all.
– Simon Sinek
Corporate responsibility is no longer optional – in fact, it’s proven to have a positive impact on the bottom line. However, with greater transparency demanded – it’s no longer about ticking a box. It needs to be driven by purpose and an authentic desire to operate in a way that makes the world better. It’s about embracing innovation and understanding our impact and what we can do differently.
– Douglas Holt
Consumers are trying harder than ever to be responsible citizens of the world, and they expect the same from businesses. In fact, 88% of consumers say they would stop buying a product if they learned of that brands’ irresponsible business practices*. Authentic brands have never been more important to business success and the ones who keep it real are the ones who will thrive in this new era.
– Simon Sinek
The era of conscious consumerism is here whether we like it or not. Businesses need to be clear on their purpose, what values their customers hold, and how the two are related. It’s time to be authentic and strategic.
Are you an innovative, purpose-driven business?
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