by Manisha Jham
February 15th, 2017
Weber Shandwick, in partnership with KRC Research, release The Company behind the Brand II: In Goodness We Trust, a second installment in The Company behind the Brand series.
The new survey, conducted among consumers and executives across 21 markets worldwide, found that today’s consumers are increasingly expecting companies to deliver well-being to their lives while also closely monitoring company behaviour. In contrast to previous assumptions about the impact of company behaviour on consumer behaviour, consumer decisions are increasingly being made in response to both the positive personal impact of a brand’s products and the social impact of a brand’s behaviour.
According to the research, one of the leading drivers of corporate reputation among consumers is how good or healthy a company’s products or services are for them and how happy they make consumers feel. One out of two consumers — 47%— say that they frequently discuss how healthy or good company products/services are and how they feel about them.
The “good for me” theme helps to drive purchase decisions. Nearly one-half of consumers worldwide increasingly buy from companies that make them feel good and happy (46%) and that care about their well-being (43%). In fact, the personal and individual benefits of a product are a prime consideration in driving purchasing decision-making, overshadowing the impact that companies have on a number of social impact factors. This suggests that companies need to do more to integrate CSR messaging with direct consumer benefits messaging.
The research also finds that company responsiveness matters to consumers – 85% of global consumers form opinions about companies based on how companies react in times of crisis. Responsiveness to issues is more important in judging company reputation than what the media says (76%) and what employees say (68%). Proactive reputation risk management has never been more critical than it is today — preparedness is a must, with a plan that ensures agility in mitigating and addressing issues and crises.
The Company behind the Brand II: In Goodness We Trust
provides guidance for leaders who want to know how to do business in an environment where consumers are not just purchasing their products or services on their own merits, but who are also shopping by company reputation, accountability and trustworthiness.
Click here to read the full report.
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