Consumers are moving towards companies that “do good”.
Today’s customers are demanding brands they engage with to take more social responsibility, as they are conscientious about their money being used for good causes. Brands must ensure their social and political stances resonate with their core beliefs and results in loyalty and emotive connection with their intended customer community.
Corporate advocacy opens up risks for marketers, such as ostracising a section of their customer base who hold opposing views, and backlashes due to the misalignment of stance. The author recommends companies to work with NPOs through trusted interactions with communities, instead of mere transactional relationship with customers.
Brands can form closer bonds when they promote what a community wants, in addition to what is beneficial for their business. Marketers can learn the right approach towards corporate activism from these associations.
[4 minute read]