More spending on Brands with a Social Purpose
According to the 3rd annual Edelman goodpurpose survey that was launched today, despite the prolonged recession, the social purpose of brands is more important than ever. The Edelman survey sampled 6026 adults in the U.S., China, Canada, U.K., Germany, Italy, France, Brazil, Japan and India to track attitudes and actions regarding the social purpose of brands and corporations.
The report contains some remarkable findings. Here are a few highlights:
71% think brands and companies spend too much on advertising and marketing and should put more into good causes – up almost 10 percentage points
64% would recommend a brand that supports a good cause – up from 52% last year globally
In Canada, 62% would switch brands if another brand of similar or equal quality supported a good cause , 56% would help a brand promote its products if there was a good cause behind it, and 55% expect brands to support a good cause.
It’s become very clear that the landscape for consumers and marketers has fundamentally changed. As recently as 5 years ago, cause marketing programs were seen as sidelines to core business. Today, the business case for investing in cause is unassailable. (In fact, the Edelman research revealed that 55% of consumers surveyed have a better opinion of corporations that integrate good causes into their business – regardless of why they do so).
As per recent posts, it’s important to remember that consumers are looking very closely at what corporations are doing in this area. That means corporate commitment to the cause must be authentic and non-profit partners must be of the highest calibre.
More on this topic (What's this?)
“Up To 16% Yields … From Steady, Cash-Rich Companies” — Roger Conrad (Stock Gumshoe, 10/19/09)
The 7 Places Canada’s Best Economist is Parking his Cash (The Wikinvest Daily Angle, 9/30/09)
Paul Klein is president of Impakt Corporation, a Toronto-based outfit that helps corporations increase the returns on their community investments.