It’s the same old story: Consumers say they care about social impact but their behavior just doesn’t match their statements. So marketers and brand managers have rightfully begun to doubt this claim.
Why does this happen? Because the traditional approach to determining what social impact to fund has been more like guesswork than the rigorous consumer research approaches used for other marketing decisions. The result is that brands and companies spend literally billions of dollars on causes and issues in hopes their consumers will care. There must be a better way. And now there is...
- the social value drivers of a specific industry that influence consumer demand so a brand can know if their social impact efforts are relevant to their consumers;
- the ratings and rankings of key competitors within an industry so a brand can see how successfully it is using social impact to influence consumer purchase compared to its peers; and
- the estimated revenue increase, in dollars, for improving its Social Value Score™.
This means that companies no longer have to guess.
The index uses an established consumer market research technique that captures what people do rather than just what they say. This coupled with our proprietary research process reveals the untapped consumer demand for socially beneficial goods and services. Think of it as the “Morningstar report for social impact.”
Sound too good to be true? Ask us about it while we’re all here at Sustainable Brands, contact us at MissionMeasurement.com or follow us on twitter @jasonasaul or @perryyeatman. We’d love to hear what you think!
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Published Jun 4, 2014 1pm EDT / 10am PDT / 6pm BST / 7pm CEST