Although recent studies show that trust in the government and public institutions is declining, the same is not true for brands. In fact, new research from global marketing and communications firm Edelman suggests consumers may trust brands more than the government.
The 2017 Edelman Earned Brand study, released last month, reports that 51 percent of those surveyed said that brands could do more to solve social ills than the government. Consumers want more from brands today; they want to know if brands will step up to the plate environmentally and socially in ways the government has failed.
Around half of consumers say they would be more likely to buy a brand that speaks out on social and environmental issues versus one that doesn’t and stay loyal to it. Further, they say they would defend these brands on social media sites. This is a particularly valuable benefit to companies today, since attacking brands on social spaces like Facebook and Twitter is on the rise (think #DeleteUber).
PAYING A PRICE PREMIUM
The study hints at the possibility of consumer commitment well beyond the traditional purchase funnel. When consumers agree with a stance taken by a brand, they will “reward it greatly,” Edelman says. According to the study, nearly a quarter of consumers will pay a price premium of 25 percent to buy on shared beliefs.
In short: What your brand believes in and the causes it commits to may well be a predictor of your business growth.
Providing environmentally safe promotional products is an essential component of doing business in today’s hyper-competitive environment. Fortune 1000 clients expect safe and environmentally compliant products and even smaller businesses are beginning to require the same assurances.
INDUSTRY GAME CHANGER
Until Quality Certification Alliance came into existence, the promotional products industry didn’t have an industry-wide sustainability standard, as architecture has with its LEED certification. But QCA has taken on the painstaking process of standardizing sustainability standards for the promotional products industry.
QCA Accreditation increases buying confidence because it protects brand equity throughout the entire supply chain: from the promotional products supplier, through the distributor, to the end buyer and ultimately to the end user.
Companies with QCA Accreditation can be confident they have a proactive and comprehensive compliance program in place. These standards not only address the environmental impact and product safety issues but also supply chain security, social compliance and product quality. Take advantage of the industry’s only accreditation program – contact QCA today.
QCA is the promotional product industry’s only independent, non-profit organization dedicated to verifying the processes that help industry companies provide safe and compliant products. To learn more about how you can affiliate with QCA visit www.qcalliance.org/getting-started/.