Do you believe social responsibility makes companies more likable?
Do you change your buying habits based on a companies business practices?
.Here are stats from two well known marketing surveys… .
Edelman Global Consumer Study
In 2009, over 6,000 consumers aged 18-64 in 10 countries, were surveyed about corporations and their impact on creating a better world. Here are some interesting statistics:
- 83 % of consumers are willing to change their consumption habits if it can help make tomorrow’s world a better place to live.
- 82 % believe supporting a good cause makes them feel better about themselves.
- 61 % have bought a brand that supports a good cause even if it was not the cheapest brand.
- 64 % would recommend a brand that supports a good cause –up from 52 % last year (up 26 % in Germany, 10 % in the UK).
- 59 % would help a brand promote its products if there was a good cause behind it.
- 56 % believe the interests of society and the interests of businesses should have equal weight in business decisions.
- 66 % of people globally (67 % in the U.S., Canada, France and 69 % in India) believe it is no longer enough for corporations to simply give money away to a good cause; they need to integrate good causes into their day-to-day business.
- 59 % of people globally (61 % in the U.S.) have a better opinion of corporations that integrate good causes into their business, regardless of the reasons why they do so.
- 65 % of people have more trust in a brand that is ethically and socially responsible.
- 64 % of consumers say they expect brands today to do something to support a good cause.
- 63 % of consumers want brands to make it easier for them to make a positive difference in the world.
- 67 % would switch brands if a different brand of similar quality supported a good cause.
Cone Cause Evolution Study
In 2008, Opinion Research Corporation conducted a survey of 1,071 Americans. Here are some interesting statistics:
- Millennial generation consumers have an even greater preference to do business with responsible companies than the average consumer. In 2010, 85 % said they would switch brands if it were involved in a good cause if the price was the same, versus 80 % of all adults; 53 % of Millennials have purchased a cause-related product in the last year versus 41 % of all adults; and 81 % of them would buy a product where a portion of the cost supports a cause, versus 85 % for all adults.
- “Moms” show the highest preference for corporate responsibility, even beyond Millennials. In 2010, 93 % said they would switch brands if it were involved in a good cause if the price was the same, versus 80 % of all adults; 61 % have purchased a cause-related product in the last year versus 41 % of all adults; and 92 % would buy a product where a portion of the cost supports a cause, versus 81 % for all adults.