A Harvard Business Review report states that companies having a higher purpose can outperform the market by 5-7% annually.
This piece argues brands should demonstrate shared values and authenticity through their marketing practices to appeal to Gen Z. These younger demographics prefer businesses, which have concrete values and are both cause-driven and profit-driven.
Companies should showcase corporate social responsibility to ensure their marketing efforts highlight their commitment towards the betterment of society. Marketers can create campaigns focusing on sustainability efforts, fair-trade practices and locally sourced products.
Businesses should convey behind the scene information, to their consumers, in their campaigns. Young generation consumers often prefer transparency and want businesses to be open about their processes. They can also boycott the brands that they do not believe in or trust.
[6 minute read]