Companies have long embraced corporate support of social and environmental issues to build brand relevance and consumer support, but today, marketers must evaluate new audiences as part of their efforts to create meaningful social impact. Among those new audiences are multicultural consumers – particularly Hispanics and African Americans, who, according to the 2013 Cone Communications Social Impact Study, are driving forces behind the evolution of cause to more robust social impact.
Hispanics represent one of the most actively-engaged population segments to-date and exhibit stronger inclinations to purchase cause-related products as well as participate in CSR efforts:
- 94% of Hispanics are likely to switch brands to one associated with a good cause (vs. 89% of the general U.S. population)
- 62% has bought a product with a social or environmental benefit in the past 12 months (vs. 54%)
- 82% would volunteer if given the opportunity (vs. 76%)
- 70% has already donated to causes this year (vs. 65%)
CSR is particularly influential among African Americans, as well. They are more steadfast in their conviction to shop with a conscience, and slightly more optimistic about individuals' and companies' ability to effect positive change:
- 42% of African Americans are "very likely" to switch brands to one associated with a good cause (vs. 37% national average)
- 33% believes individuals can have significant positive impact on social issues through their purchasing decisions (vs. 25%)
- 20% feels companies have made significant impact on critical issues (vs. 16%)
As companies respond to consumer demand for proof of purpose, multicultural consumers represent must-engage audiences who stand ready to participate in and advocate on behalf of corporate efforts.
Learn more about these critical stakeholders – including expert POVs and tips for marketers – in our 2013 Cone Communications Social Impact Study! And don't forget to register for our webinar on October 16!