Today, consumers all over the world are demanding that companies do more than just create profits.
Take a look at the studies below to find out why becoming a Certified Conscious Enterprise matter to you and how it can affect your companies bottom line.
New findings from a Nielsen survey of more than 28,000 online respondents from 56 countries around the world provide fresh insights to help businesses better understand the right audience for cause marketers, which programs resonate most strongly with this audience, and what marketing methods may be most effective in reaching these consumers.
In the study, respondents were asked if they prefer to buy products and services from companies that implement programs that give back to society. Anticipating a positive response bias, respondents were also asked whether they would be willing to pay extra for those services. For the purposes of this study, Nielsen defines the “socially conscious consumer” as those who say they would be willing to pay the extra.
Two thirds (66%) of consumers around the world say they prefer to buy products and services from companies that have implemented programs to give back to society. That preference extends to other matters, too: they prefer to work for these companies (62%), and invest in these companies (59%). A smaller share, but still nearly half (46%) say they are willing to pay extra for products and services from these companies. These are the “socially conscious consumers,” as defined by and focused upon in this report.
Why should you become a Certified Conscious Enterprise?
People are Cause Conscious in Many Aspects of Life – 89% of Americans state it is very/somewhat important to know about the values of companies they come in contact with – whether through buying products, working for them or living in a community in which they operate. The 2008 MS&L Global Values Study
People Seek Authentic Corporate Commitment – Globally 66% of people believe it’s no longer enough for corporations to merely give money away, but that they must integrate good causes into their day-to-day business. 2009 Edelman goodpurpose Consumer Study
Consumers Punish Companies with Bad Reputations: 72% of US consumers say they have avoided purchasing products from companies whose practices they disagree with. 2009 BBMG Conscious Consumer Report
Consumer Expect Marketing with Purpose Globally – Eighty-six percent of consumers around the world believe that business needs to place at least equal weight on societal interests as on business interests. 2010 Edelman goodpurpose
Purpose is Ever-More Embedded in Purchases – 47% of consumers have bought a brand at least monthly that supports a cause, representing a 47% increase from 2010. Over the years, consumers have taken increased action on behalf of brands with Purpose:
- 39 percent increase in “would recommend” cause-related brands
- 34 percent increase in “would promote” cause-related brands
- 9 percent increase in “would switch” brands if a similar brand supported a good cause
Cause Compels Consumers to Move – 91% of global consumers are likely to swtich brands to one associated with a good cause, given comparable price and quality. 2013 Cone Communications/ Echo Global CSR Study
Cause Increasingly Creates Differentiation – 79% of Americans say they would be likely to switch from one brand to another, when price and quality are about equal, if the other brand is associated with a good cause (compared to 66% in 1993). 2008 Cone Cause Evolution Study