Growing Your Brand Through Societal Impact
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 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. For example, beer brands targeting friends socializing might promote inclusivity, while those focused on routine drinking could emphasize transparency and fairness.
- Position societal benefits as co-benefits: Seamlessly add societal benefits to existing value propositions. Hellmann's "Make Taste, Not Waste" campaign is a successful example, positioning the brand as both tasty and responsible.
- Leverage the halo effect: A brand's commitment to one societal issue can create positive associations in other areas. Consumers may assume a brand known for environmental efforts also has fair labor practices. However, the reverse is also true; negative actions in one area can damage the brand's overall image.
In today’s increasingly polarized world, brands face a complex challenge when it comes to making a positive impact on our planet and society. It's important to ensure that actions match words as consumers are quick to spot inauthenticity, and it can damage a brand's reputation.
Aligning initiatives with consumer values offers a real opportunity for brands to grow, build stronger relationships with their customers, and tap into the rising demand for societal impact.
Be sure to also check out our companion paper to learn more about aligning your ESG strategy with consumer expectations for your category.
