Reputation, quite simply, is everything. It is painstakingly built and carefully protected, yet, can implode in a moment and take years to reconstruct. In short, every reputational point matters. Yet there is one thing that can catapult a company into the hearts and minds of consumers over competitors: introducing the Purpose Premium.
The majority of Americans say they believe climate change is a problem, and are hopeful companies will take the lead in addressing climate issues. When it comes to how companies should address climate change, many Americans believe companies should first look within – by reducing energy usage and developing new products – then look to engage partners in the corporate, government and nonprofit sectors.
Purpose isn’t just the latest marketing buzzword or moment-in-time tactic. Not only do Americans expect companies to lead with Purpose, they are ready to reward these companies in a variety of ways. In fact, companies that lead with Purpose will stand to build deeper bonds with existing consumers, expand the consumer base and enlist those brand advocates to share the brand message.
Gen Z has gotten a bad rap. Yes – their faces may be glued to their smartphones, but don’t mistake that for disinterest in what’s happening in the world around them. This generation is a force to be reckoned with, using their digital devices to spread social and environmental messages far and wide. But they’re not going it alone – they expect companies to be their partners in change. Companies: it’s time to enlist Gen Z to share your CSR message.
2017 will be remembered as the year that corporate social responsibility (CSR) was redefined. Although CSR will always be grounded in business operations – from water conservation to supply chain transparency – recently, the stakes have gotten a lot higher. Companies must now share not only what they stand for, but what they stand up for.