Consumers like Brands that Do Good!
While the recession has meant Canadians have less money to give to good causes they are expecting companies and brands to increase their support for social causes. And many consumers are saying they’re more likely to buy a brand for that very reason – 51 per cent said they have purchased a brand supporting a good cause even though it wasn’t the cheapest. The impact of cause-related marketing on consumer attitudes and buying patterns was highlighted in the third annual Edelman Goodpurpose™ Consumer Study released in October.
Businesses should do more than give away money. The global study surveyed 6,000 people in 10 countries, including over 500 Canadian consumers, aged 18-64. While it found 46 per cent of Canadians were giving less money to community causes, 29 per cent were more involved than in previous years. This approach seems to be carrying over to their expectations for business. The study found 68 per cent thought it wasn’t enough for companies to give money away; they also wanted to see them involved with good causes year-round.
Supporting good causes opens wallets.
Other findings include:
- 89% willing to change consumption habits if it helps make the world a better place
- 49% believe a company or brand has earned their business because it has been supporting good causes
- 58% believe the interests of both society and business should have equal weight in business decisions
- 62% looking to brands and companies to make it easier for them to make a difference
- 59% would recommend a brand that supports a good cause (up from 47 percent in 2008)
- 62% say they would switch brands if another brand of similar quality supported a good cause
- 58% expect brands today to support a good cause
- 69% are fine with brands that support good causes and make money too
For more information on the Edelman Goodpurpose™ Study click here or check them out on Twitter and Facebook.
Tags: canadians, corporate social responcibility, endelman, goodpurpose, study, volunteering
