CONSUMER LANDSCAPE ANALYSIS
“Companies today not only need to do good;
they also need to tell stories about the good they are doing,
so that consumers know about it.” (1)
Over the past decade, the landscape of corporate social and environmental giving has evolved in the consciousness of the consumer, from being a nice-to-have, to a priority and differentiator. Brands’ and corporations’ position as socially-responsible and active participants in creating social impact is playing a significant role in consumer loyalty and intent to purchase. In short, corporate giving to social impact causes is now driving business.
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“70% of consumers say companies have a special responsibility for making the world a better place” (2)
“Consumers are 4x more likely to purchase from purpose driven companies.” ​(3)
“Consumers are 4.5x more likely to recommend a purpose driven brand to friends.” ​(4)
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At the same time, particularly since the COVID-19 pandemic, the global corporate workforce shares the same demands of their employers. With the rise of social media, where a voice can quickly become a movement, employees are speaking out, are more loyal, more motivated and perform better when their values are aligned with their employer, and then backed up with action.
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“93% of employees are more likely to recommend employers with a strong purpose.” (5)
“89% of employees are more loyal and motivated working for a company with a purpose.” (6)
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This is not news to the corporate world. Almost all brands give to charitable causes, many that are aligned to their products or categories, but others that are simply responding to the causes that are important to their employees and consumers. Their participation in social and environmental issues is good for business. Unsurprisingly, corporate giving is on the rise.
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“Giving by corporations is estimated to have increased by 23.8% in 2022, totaling $21.08 billion” (7)
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Despite this, research reveals that both employee and consumer populations believe that brands can, and should, do more. The investment by brands is having a tremendous impact on many worthy causes, but unfortunately, many of these stories go untold. What if we could tell those stories to both consumers and employees, and unlock the value of giving for corporations around the world?
Sources:
(1) 'Why Social Impact Storytelling Will Be 2021’s Hottest Content Trend', Contently.
(2) 'Consumers, Investors Hold Corporations' Feet to the Fire', Aflac.
(3) 'Strength of Purpose Study', Zeno.
(4)''Strength of Purpose Study', Zeno.
(5) 'Employee Perspectives on Responsible Leadership During Crisis', Porter Novelli.
(6) 'Employee Perspectives on Responsible Leadership During Crisis', Porter Novelli.
(7) 'Giving USA Report', Giving USA Foundation.
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CONTENT IS KING
So, what is the best way to communicate to consumers today? In 2022, 82% of all internet traffic came from video, from an estimated 2.37 billion unique users globally. Online video is, by far, the preferred method of consuming content, and brands are increasingly moving their content strategies and budgets aggressively towards video.
It’s not just the numbers or the format that are convincing. Video content offers a platform to tell a story, and for brands that want to communicate their corporate giving and social impact, this form of storytelling has the potential to address the most critical component; authenticity.
"91% of consumers are prepared to reward brands for their authenticity” (8)
If consumers and employees are demanding brands give back and support causes they care about, the most effective way to let them know about the positive social impact corporations are creating, is to tell them a story through compelling, authentic video content.
Sources:
(8) 'Authentic 100'', Global Study, Cohn & Wolfe