Growing your brand through societal impact
Do consumers really care about your brand's impact on the planet and society?
The answer is a definitive 'yes'.
Traditionally, brand value has mainly been viewed through the dual lens of functional and emotional benefits. However, as consumers become more socially and environmentally conscious, societal benefits are emerging as a critical third dimension.
Our research shows that societal benefits – such as environmental impact and social justice – are increasingly important to consumers. People feel good about themselves when they are using products that have a positive impact on our planet and society.
But how do you integrate societal impact in a way that allows you to effectively position your brand while successfully tackling ESG-related issues?
In our latest Ipsos Views paper, we draw on our research to highlight the impact societal benefits can have in driving brand growth. We also outline three ways to grow your brand with the infusion of societal benefits:
- Connect societal expectations with category motivations: Understand what societal impacts fit with existing brand propositions.
- Position societal benefits as co-benefits: Seamlessly add societal benefits to existing value propositions.
- Leverage the halo effect: A brand's commitment to one societal issue can create positive associations in other areas.
Managing ESG positioning risks through empathy
In today’s world, marked by increasing polarisation, brands face a complex challenge when striving for positive societal impact. While it is generally beneficial for brands to champion environmental or societal causes, recent history offers notable examples where this strategy has backfired.
Integrating societal benefits for future growth
It is clear that having a positive impact on our planet and society offers an opportunity for brands to grow. As we navigate the complexities and opportunities of integrating these benefits, here are key principles for brand managers to keep in mind: Strategic alignment, Empathy, Halo effect, and Adaptive strategies.
