65% of consumers will not buy from a brand if it stays silent on an issue that the customers care about, according to an Edelman report.
Companies need to take a stand on ongoing social and political issues to gain customer loyalty and advocacy. But, brands should first define their values and ensure they align with their businesses’ core mission and their customers’ values.
Businesses should then continue to demonstrate their values over time through continued actions and not just a one-time campaign. Brands should conduct research and adequately measure the risks before speaking up on a controversial issue.
Organisations must stay firm on their stand, irrespective of fluctuations in consumer as well as employee reactions. Marketers should also be cautious about the creatives they use for communicating their values to avoid causing any potential damage to the brand image.
[9 minute read]