The 2017 Cone Communications CSR Study reveals one major takeaway for companies: consumers are no longer just asking, “What do you stand for?” but also, “What do you stand up for?” In today’s tumultuous society, Americans expect companies to not only improve their business practices and invest in social issues that are aligned with the company, but to be a force for change in broader society. They want companies to stand up for important social justice issues and advance progress for the world at large – and this means doing business with entities that care and share their beliefs.
Key Takeaways:
- 63% of Americans are hopeful businesses will take the lead to drive social and environmental change moving forward, in the absence of government regulation.
- 78% of respondents want companies to address important social justice issues.
- 4/5 of consumers expect businesses to continue improving their CSR efforts.
- 3/5 are hopeful that businesses will take the lead to drive social and environmental change moving forward.
- 70% of American’s believe companies have an obligation to take actions to improve issues that may not be relevant to everyday business operations.
- 87% will buy based on values
- 76% will boycott based on values
- 89% of consumers would switch brands to one that is associated with a good cause, given similar price and quality.
- 81% of consumers would tell their friends and family about a companies CSR efforts.
- 92% of respondents have a more positive image of companies that support social and environmental issues.
- 87% are more likely to trust companies that do so
- 88% are more loyal to such companies
- 69% would voice their opinion to a company about its corporate social responsibility efforts if given an opportunity.
