It’s no secret that when making a purchase, millennials tend to sway towards brands that have a purpose. FastCompany certifies that, “Both the substance of meaningful action and people’s perceptions of that action matter to long-term support of brands’ purposes.” In other words, running a brand with purpose has a significant impact on business. Unfortunately, the impact of these purposes is rarely measured on a logistical level. According to MarketingWeek, “60% of businesses that launch brand purpose initiatives fail to actually measure their impact on society.” Below, hear from three companies on how they quantify their social movements:
The Body Shop
“We’re sending customers emails and we embrace new technology, but a lot of it is still down to the stores and that’s the beauty of The Body Shop—we’re in 70 countries, we have 3,000 stores around the world—so we have the opportunity to talk to customers on the high street. It needs to feel like it’s more than just signing a petition and if [customers] want to take that further they can be part of that journey with you,” says head of The Body Shop’s global campaigns, Jessie Macneil-Brown.
“We always measure the sentiment on social media. Not just what the sentiment is, but the qualification of the sentiment. It’s not enough to say is it a positive or negative comment? What kind of positive or negative comment? What do we understand from the social conversations?” Raja Rajamannar, Mastercard chief marketing and communications officer, tells MarketingWeek.
The Economist regularly launches campaigns regarding education and sustainability, and produces “very detailed impact reports. The results are vigorously surveyed and quantified, which is advisable for any brand aligning a marketing strategy with social purpose,” Michael Brunt, CMO, says.
[customers]For more on brand impact, head over to MarketingWeek.
Photo: Samantha Sophia via Unsplash