In an era of radical visibility, technology and media have given individuals the power to stand up for their opinions and beliefs on a grand scale. This power, reflected in everything from the #MeToo movement to the growing intolerance for “fake news,” is infiltrating every aspect of people’s lives, including their purchasing decisions.
- Consumers in the United States are no longer making decisions based solely on product selection or price; they’re assessing what a brand says, what it does and what it stands for. They support brands whose purpose aligns with their beliefs. And they reject those that don’t, with one in five walking away forever.
- Consumers’ expectations that brand purpose will align with their values pose a challenge for US companies. But expectations for brand purpose also present an opportunity for companies to build more differentiated, authentic and profitable relationships.
- US companies that stand for something bigger than what they sell, tune into customers’ beliefs, and take decisive action on issues can recast their customer relationships and connect with consumers on a deeper level.
- Three guiding principles set purpose-driven brands apart.