45% of consumers say they always choose products from companies with clear purposes
07/10/2020
At edeon we are always committed to content marketing campaigns and that is why it is very easy for us to work with brands with values. Recently, the communications consultancy Hotwire has published the second edition of the study ' Brands with awareness: the era of the purpose t'. This research carried out on more than 200 executives and 1,000 consumers demonstrates the importance of corporate purpose , although there are still doubts about how it is built and what elements make it up. In fact, 67% of managers link it to functional elements (financial results, products, services) and only 41% to social elements, business ethics or the environment, for example.
According to this survey, up to 74% of executives surveyed would agree to work for less money if the company had a corporate purpose in which they believed. This data cannot be underestimated between HR departments or sales departments, corporate purpose is important in business-to-business (B2B) business. In this regard, 83% of respondents say it is important or fundamental if a supplier has a clear corporate purpose.
The preference of brands for a corporate purpose is also an upward trend among consumers. 45% say that whenever they can choose products from companies with a clear purpose; 10% always do. In terms of price, up to 59% of consumers would be willing to spend more on brands or products that have a clear purpose.
And no wonder, according to the price of the product or service, the purpose of the brand will be more important. New generations demand brands on purpose. Young people between the ages of 18 and 24 find purpose the most important element when making a purchase, while those under 65 are the least important.
The great opportunity for companies in the new economy
For 79% of consumers it is very important for health service companies to have a corporate purpose. They are closely followed, with 78% in the pharmaceutical industry, energy, financial services and technology. It is precisely the sectors related to innovation that are experiencing the greatest growth in recent years and where companies need to work towards their purpose.
From edeon we help to build and communicate purposes. We follow its evolution and its interpretation among consumers.
According to this survey, up to 74% of executives surveyed would agree to work for less money if the company had a corporate purpose in which they believed. This data cannot be underestimated between HR departments or sales departments, corporate purpose is important in business-to-business (B2B) business. In this regard, 83% of respondents say it is important or fundamental if a supplier has a clear corporate purpose.
The preference of brands for a corporate purpose is also an upward trend among consumers. 45% say that whenever they can choose products from companies with a clear purpose; 10% always do. In terms of price, up to 59% of consumers would be willing to spend more on brands or products that have a clear purpose.
And no wonder, according to the price of the product or service, the purpose of the brand will be more important. New generations demand brands on purpose. Young people between the ages of 18 and 24 find purpose the most important element when making a purchase, while those under 65 are the least important.
The great opportunity for companies in the new economy
For 79% of consumers it is very important for health service companies to have a corporate purpose. They are closely followed, with 78% in the pharmaceutical industry, energy, financial services and technology. It is precisely the sectors related to innovation that are experiencing the greatest growth in recent years and where companies need to work towards their purpose.
From edeon we help to build and communicate purposes. We follow its evolution and its interpretation among consumers.