49% of Brits are willing to pay more for a brand that supports a cause which is important to them, according to a recent study by MediaCom.
Four in 10 have stopped or never used a brand because of its values or behaviours, and an additional 35% have bought a brand product specifically because of its chosen values or beliefs.
“As a society, we are heading towards mass adoption of purpose,” said Pauline Robson, managing partner and head of Real World Insight, MediaCom’s research arm.
“The fact remains that a brand’s purpose is hugely influential in attracting an audience and a customer base.”
The study also shows that as a nation Brits are becoming increasingly socially-conscious: among the 18-24 year olds, 60% are willing to pay more for a brand that has a positive impact on society, and 49% will chose a brand specifically for its values and beliefs.
However, the research also reveals that many people are sceptical of brands that claim to support good causes, with 65% believing that they tend to overstate their environmental credentials.
Meanwhile, 63% believe brands have a responsibility to give back to society and 80% state that they must take steps to reduce environmental impact.
“The role and responsibilities of brands in society is complex. Even those which do have good values or behaviours at their heart face a challenge in convincing the public that they can be trusted,” Robson added.
“Working to make a positive impact on society isn’t a ‘nice to have’, it should be part of a brand’s DNA and a pillar of any communications and interactions with consumers. It can make your brand stand apart from the competition.”
