I was running though my LinkedIn feed the other day and a post on purpose-driven branding stopped me in my tracks. This is a popular conversation in my graduate digital marketing class and I’m always looking for new material on the topic.
In essence, there is a cacophony of marketing information in the marketplace. Brands, therefore, often serve as a “mental short cut” meaning it is much easier (cogitatively speaking) to make a decision on a brand we are familiar with and like. But can the those mental connections be much stronger if the brand is more than just a mental short cut? Can the brand be more top of mind if the brand was more than a brand and had a purpose-driven mission behind it?
As detailed in a Fast Company article, Porter Novelli (a communications consultancy) conducted a brand study with 1,200 consumers to explore this very question. Using a implicit association test, an experience where the subject gets less than a second to indicate their thoughts on a brand (i.e., favorable or unfavorable). An mplicit association test proports to be a truer representation of one’s evaluation because the test does not allow one to “over think” their response. For example, a brand name or logo will appear on the screen and words like “transparent” or “ethical” can be selected… or not.
And the results? They even surprised me. I was expecting to see an effect but not ones as strong as detailed. For brands with purpose-driven characteristics, consumers were:
- 75% were more likely to trust the company
- 78% were more likely to remember a company with strong purpose
- 78% were also more likely to want to work for the company
- 72% were more likely to be loyal to the company
- 72% were more likely to forgive the company if it made a mistake
- 66% said they would consider the company’s purpose when deciding what to buy
- 71% said they would buy from a purpose-driven company over the alternative if cost and quality were equal
- 62% said that they thought it was important to consider purpose even when making an impulse buy
In summary, being purpose-driven could be the difference whether a consumer buys your brand or not. But don’t forget, being purpose-driven is just as important for all the corporate social responsibility impacts the brand has on the community.
Something to share today…
Daniel M. Ladik, Ph.D.,
Associate Professor of Marketing
Methodologist, Seton Hall Sports Poll
Stillman School of Business
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