As we have noted before, customers appreciate purpose-driven brands. And brands that do the right thing. At the same time, people may dislike brands that “creep them out”. Today, we delve further into why customers like caring brands.
Why Customers Like Caring Brands
“There’s a good reason marketers and the senior executives alike continue to focus so determinedly on brand purpose. And that refers to its importance to consumers. According to a new study, 75 percent of global consumers expect brands to contribute to their well-being. And also to their quality of life. In addition, purpose is an especially important consideration when marketing to millennials and Gen Zers. They both factor in companies’ positions and efforts on social and environmental issues when deciding what to buy and where to work.”
“‘The boardroom prioritizes the firm’s brand purpose. Thus, their businesses want to play a bigger, more fulfilling, and more relevant role in their audiences’ lives,’ said Hannah Matthews, managing partner at Karmarama. She adds: “Making brands meaningful and rebuilding trust with consumers can equate to significant success for businesses. Those that focus purely on short-term transactions, ignoring this drive toward empathy and purpose in business, could lose out in the long run.”
Now, take a look at the following brand purpose infographic from Adweek. It highlights several aspects from a consumer perspective. Companies need to keep these factors in mind.
How important is brand purpose to your organization? What would you recommend that any company should do — at a minimum — with regard to brand purpose? How confident are you that your firm has a forward-looking brand purpose? What you recommend for a brand purpose that appeals to young adults — millennials and Gen Zers?“