Changing Values, Changing Landscape

Photo: Liza Summer | Pexels

In a sea of available products, brands and advertisements, consumers have more purchasing power than ever, and are also more overwhelmed and time-poor than ever, making them less willing to compromise on what they want. This means brands need to increase the value of their product to catch the consumer’s eye, keep their attention and convince them to purchase.

Some values are universal and transcend all categories and lines, such as the quality of a product or service. Other, more complicated, values are about the ethics of patronizing a company, a natural byproduct of making a purchase, which consumers see as something of rising importance. With so many options available, consumers can choose what criteria is most important to them and can put the onus on brands to align to their values and desires.

In early 2020, Google predicted that an expectation of transparency and aligned values would be key disrupters in digital marketing. As a number of environmental, political, social and public health events unfolded, corporate social responsibility became a way for brands to connect with consumers and deliver extra value alongside a tangible product or service.

Companies with a firm hold on current issues and the ideals consumers value most will be able to corner some 71% of the market. Underdeliver, and the consumer will move on to another product or brand that checks all their boxes.

It may seem daunting, but the benefits for companies that can achieve this new necessity are enormous. A brand that can relate and build a sense of community achieves a meaningful connection that stays with the customer. This may seem an intangible gain at first, but such goodwill translates to real return on investment. Brand loyalty and engagement can be evaluated by the number of return customers and organic spread of awareness. This sense of support often shows up in sales made, because consumers actively want to patronize a business they believe in and feel good about, as well as word of mouth engagement and product satisfaction. Even employees and stakeholders are prioritizing corporate social responsibility, and are happier when they are vested in a company that focuses not just on profit, but the triple bottom line: people, planet and revenue.

Consumers don’t simply have a silent wish for brands to participate in the social sphere; they are actively calling on brands they already patronize to pledge their resources and corporate power to affect real change in the world. Consumers increasingly see themselves as stakeholders in a flawed society with real problems that can be solved with real solutions. This makes transparency a natural next step in values-based commerce. The communication between brand and consumer is crucial to benefit either party, because without that open connection, neither will be able to understand that a valuable relationship apart from the traditional commercial transaction is being formed.

Companies that only appear to be socially conscious will fail to meet the mark of savvy consumers, who are expecting long-lasting, tangible change. They want socially conscious brands to walk the walk. Transparency is not only a company’s willingness to engage in social issues, but also their ability to relay any action to their customers, and even their ability to admit and rectify mistakes when necessary.

One of the most common social issues today is salvaging the world from the climate crisis. Consumers who see this as a pressing concern are citing the effects on people, crops, water supply and ecosystems as evidence that it also affects businesses. Engaging in such a global conversation can take many different forms.

Outdoor clothing and gear company, Patagonia, has several responses to the climate conversation. For several years Patagonia has run a special Black Friday sale setting it apart from all other retailers. They pledge to donate 100% of sales both in store and online to local, grassroots environmental organizations, in addition to their 1% donation all other days of the year. The company also participates in the corporate resell model, urging customers to consider buying gently used goods that have been vetted by Patagonia to be resold, rather than buying completely new garments. Because Patagonia’s market segment is already focused on the outdoors, this pivot was natural to their brand message, allowing consumers to see it as a sincere effort for the good of all, not a deceitful attempt to cash in on current social trends.

Slightly less intuitive pivots for companies such as P&G can use a more human approach. In their “It’s Our Home” campaign video, P&G chooses to amplify the emotional side of making small choices to protect the environment, while still showcasing their vast portfolio through such cameos as laundry items by the dryer, toiletries in the shower and the recyclable packaging of their many products.  

Along with transparency, there needs to be sincerity. Brands deemed to be disingenuous or even two-faced will be called out for “greenwashing” tactics and suffer reputational damage, so the need for clear, succinct communication with a strong message is more imperative than ever. Beeline’s 40+ years of storytelling spans across time, brands, and messaging avenues. We know values-based marketing is riddled with pitfalls, but is also worth the work to connect with your customer. Contact us today for a free consultation.