Post by account_disabled on Feb 18, 2024 10:35:50 GMT
Amid the significant decline in brand trust and loyalty derived from the lack of authentic actions and unfulfilled promises by companies, according to the Havas Media Group report , there are three essential elements for consumers for which they will continue to vote with their wallets.
Gone seems to be the interest in competitive prices or even reliable and well-made products. Consumers are looking for a brand that acts in conjunction with their values, on issues such as diversity, equity and inclusion (DE&I), sustainability and Corporate Social Responsibility (CSR). What measures can companies take to incorporate these essential elements for consumers?
Conscious and responsible consumers
According to 5WPR's 2020 Consumer Culture Report , demographic data reveals that younger groups are changing the way marketers interact with these consumers.
For audiences in the millennial demographic, it's crucial for brand managers to demonstrate alignment on social issues. Among these young consumers, 83% want companies to align with their values and 76% want CEOs to speak out on the issues they care about.
Certainly, consumers are challenging companies to address the most pertinent social and environmental problems, and take them into their own Middle East Mobile Number List hands when they do not see a result quickly and effectively enough.
So, with this new mindset, it makes sense for companies to start working to connect with consumers' new values: (DE&I), sustainability and CSR, not just by talking, but by taking actions that support them.
consumers-demand-sustainability-
1. Heed the call for diversity, equity and inclusion
Diversity and inclusion are essential today. DE&I allow organizations to include different ideas, cultures and lifestyles, leading to an improved company culture. Additionally, it puts companies in a position to hire the best employees from a diverse and often untapped pool of candidates, while increasing customer satisfaction with their services.
To build a successful business DE&I strategy, you can start by encouraging employees to play an active role in creating and executing a strategy. Subsequently, it will be important to begin to communicate the “how” and “why” of everything that is done in the space and ensure the greatest possible transparency.
Finally, make everyone more aware of what DE&I covers by providing as much information and training as possible, from new employee orientation, recurring speaker series or briefings, to management training on the issue.
Most importantly, companies must ensure that their policies and practices reflect the importance of diversity and inclusion. This includes setting diversity goals, committing to hiring a diverse workforce, and tracking workforce diversity.
2. Sustainability at the heart of business
The next essential element for consumers is sustainability. This may mean being more environmentally conscious with products, packaging, or how waste is handled in corporate offices.
People are increasingly aware and responsible for their impact on the environment through their consumption. They are looking for more environmentally friendly options in their purchases and are willing to pay more for it. This is according to the second Business of Sustainability Index , a global environmental technology company.
Even for the service sector, adopting more environmentally conscious and responsible practices is also possible. From encouraging recycling in the office to changing the purchase of water bottles for vending machines, these are some actions that can generate big changes.
Gone seems to be the interest in competitive prices or even reliable and well-made products. Consumers are looking for a brand that acts in conjunction with their values, on issues such as diversity, equity and inclusion (DE&I), sustainability and Corporate Social Responsibility (CSR). What measures can companies take to incorporate these essential elements for consumers?
Conscious and responsible consumers
According to 5WPR's 2020 Consumer Culture Report , demographic data reveals that younger groups are changing the way marketers interact with these consumers.
For audiences in the millennial demographic, it's crucial for brand managers to demonstrate alignment on social issues. Among these young consumers, 83% want companies to align with their values and 76% want CEOs to speak out on the issues they care about.
Certainly, consumers are challenging companies to address the most pertinent social and environmental problems, and take them into their own Middle East Mobile Number List hands when they do not see a result quickly and effectively enough.
So, with this new mindset, it makes sense for companies to start working to connect with consumers' new values: (DE&I), sustainability and CSR, not just by talking, but by taking actions that support them.
consumers-demand-sustainability-
1. Heed the call for diversity, equity and inclusion
Diversity and inclusion are essential today. DE&I allow organizations to include different ideas, cultures and lifestyles, leading to an improved company culture. Additionally, it puts companies in a position to hire the best employees from a diverse and often untapped pool of candidates, while increasing customer satisfaction with their services.
To build a successful business DE&I strategy, you can start by encouraging employees to play an active role in creating and executing a strategy. Subsequently, it will be important to begin to communicate the “how” and “why” of everything that is done in the space and ensure the greatest possible transparency.
Finally, make everyone more aware of what DE&I covers by providing as much information and training as possible, from new employee orientation, recurring speaker series or briefings, to management training on the issue.
Most importantly, companies must ensure that their policies and practices reflect the importance of diversity and inclusion. This includes setting diversity goals, committing to hiring a diverse workforce, and tracking workforce diversity.
2. Sustainability at the heart of business
The next essential element for consumers is sustainability. This may mean being more environmentally conscious with products, packaging, or how waste is handled in corporate offices.
People are increasingly aware and responsible for their impact on the environment through their consumption. They are looking for more environmentally friendly options in their purchases and are willing to pay more for it. This is according to the second Business of Sustainability Index , a global environmental technology company.
Even for the service sector, adopting more environmentally conscious and responsible practices is also possible. From encouraging recycling in the office to changing the purchase of water bottles for vending machines, these are some actions that can generate big changes.
