The Growing Need for Brand Purpose
Against the backdrop of a life-altering pandemic, the world has changed in numerous ways over the last two years as concerns over social justice, economic inequality and environmental protection have reached all-time highs among many consumers.
Should these heightened levels of awareness impact the way brands engage with shoppers?
Marilyn® Says: Absolutely, based on numerous research studies evaluated through our AI-enabled curation tool. According to research from Zeno Group, consumers are four times more likely to purchase a brand with a strong, clear purpose; 4.5 times more likely to recommend that brand to a friend; and six times more likely to support that brand during a challenging time.
Need a second opinion? According to Fast Company, 72% of consumers say they’re more likely to stay loyal to a brand with a strong purpose.
Maybe need proof of the potential impact? According to Kantar, brands that professed to be purpose-driven grew 175% on average over a 12-year period while brands that acknowledged uncertainty of purpose grew by 70%.
Whether their efforts are focused on a particular cause or more generally seek ways to help society as a whole, brands should weave their purpose-driven efforts through every touch point they activate — from above-the-line advertising to shopper marketing execution. Shoppers are paying attention to the world around them — and they’re expecting brands to do the same.
The industry’s first end-to-end commerce marketing advisor, Marilyn® lets marketers streamline their data, optimize spending, plan strategy and measure results — all in one platform. Marilyn’s AI-enabled research curation capabilities mine an unrivaled resource database encompassing our proprietary consumer survey data, client-specific content, and a host of vetted, respected industry sources to find actionable answers to direct questions about shopper behavior. To learn more, contact [email protected]