64% of people will choose, switch, avoid or boycott a brand based on its position on societal issues.
Customers want to do business with brands they trust and align with. Companies are now taking a stand on issues ranging from generational changes among consumers to growing needs to differentiate. Brands need to have a comprehensive understanding of the target audience.
They must ensure that the larger percentage of the audience agrees with the brand’s viewpoint. Being aware of the audience region, age and other demographic factors can help brands reach definite conclusions. A FleishmanHillard Study found 66% of the respondents have abandoned products and services of companies because it does not support their personal views.
While, 43% of people said that if brands explain “why” taken a stand on a particular issue, the customer is very likely to keep being loyal to them. Brand transparency can help the brand score trust-building benefits.
[6 minute read]