💥What's the best way to think about #BrandPurpose?💥❓
Do consumers think about it in the same way as marketers?❓
Our latest #RivalSpark research report aims to understand how US / UK consumers and marketers feel about purpose driven brands. View the full report by clicking the image below.
We interrogate how consumers really feel about different causes and issues, what they want from brands and how purpose impacts #shoppingbehaviour. In addition, we'll be looking at how marketers similarly feel, identifying the differences in how the industry and its audience look at purpose.The full report is available below, but the attached executive summary shows our key findings:
🛒 While brand purpose is widely seen as important across demographics and audiences, its impact on shopping behaviour varies. Consumers prioritise and product over purpose, making it a value add, not a primary value driver. Alternatively, marketers state they are highly influenced by purpose when shopping, ranking it even or above price and product performance in consideration.
💵 Income doesn't increase the importance of brand purpose to consumers, instead it pushes more affluent consumers to buy the best product available functionally, regardless of price.
🚩 Despite a lack of immediate purchase impact, consumers and marketers expect brands to take the lead on causes - showing lower net personal engagement on a variety of issues vs. what they expect from brands.
🍐Brands which fail to live up to purpose pledges aren't automatically judged harshly, instead what cause they have focused on shapes the consumer response. For many issues, especially less culturally divisive ones, an honest effort that falls short is viewed as better than staying on the sidelines.
For more detail on these takeaways and many more, check out our full report link in the comments! While you're there, let us know what you think and what else you'd like to see from #RivalSpark around purpose or other issues facing marketers.
Our full report on brand purpose is live and available here: https://lnkd.in/eQQN8kN3