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From Me to We: The Rise of the Purpose-Led Brand (US Edition)

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New research from Accenture Strategy found that 62 percent of consumers globally prefer to buy from companies that stand for a shared purpose that reflects their personal values—and are ditching those that don’t. The study found that companies in the US that stand for something bigger than what they sell are more likely to attract consumers, influence purchasing decisions, and improve competitiveness. Read these and other findings from Accenture Strategy’s 14th annual Global Consumer Pulse Research. To learn more, visit https://www.accenture.com/us-en/insights/strategy/Brand-purpose?c=acn_glb_purposeslideshare_10852024&n=smc_0119

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From Me to We: The Rise of the Purpose-Led Brand (US Edition)

  1. 1. THE RISE OF THE PURPOSE-LED BRAND FROM ME TO WE UNITED STATES
  2. 2. From Me to We: The Rise of the Purpose-Led Brand CONSUMERS TAKE CONTROL 2Global Consumer Pulse Research 2018 Companies looking to build competitive agility need to find new ways to stand apart. Consumer expectations for alignment with their personal values create an opening for companies to build relationships that are:51% of U.S. consumers want companies to take a stand on issues close to their hearts Authentic Meaningful Long-Lasting Profitable Read the report
  3. 3. From Me to We: The Rise of the Purpose-Led Brand CONSUMERS ARE MORE THAN BUYERS 3Global Consumer Pulse Research 2018 Consumers aren’t just buyers anymore. They are critical stakeholders with multiple roles: 63% of U.S. consumers believe their actions can influence a company’s stance on issues of public concern. Brand sustainers Brand shapers Brand influencers Brand co-developers Brand investors Read the report
  4. 4. From Me to We: The Rise of the Purpose-Led Brand CONSUMERS DEMAND AND TAKE ACTION 4Global Consumer Pulse Research 2018 Consumers are voicing their opinions and beliefs as never before. They expect brands to follow suit and continually assess: • What a brand says • What it does • What it stands for Companies that don’t step up with purpose-led brands pay the price. When American consumers are disappointed by a brand’s words or actions on a social issue: 48%criticize 42%walk away 21%never come back Read the report
  5. 5. From Me to We: The Rise of the Purpose-Led Brand THE RISE OF THE PURPOSE-LED BRAND 5Global Consumer Pulse Research 2018 Price, product quality and customer experience are important purchasing considerations. But they’re now table stakes. Companies looking to build their competitive agility need to find new ways to stand apart. Purpose has become a key brand differentiator. What attracts American consumers to one brand over another? 70%culture 65%transparency 69%treatment of employees 54%sustainability 64%ethical values Read the report
  6. 6. From Me to We: The Rise of the Purpose-Led Brand NOT ALL BRANDS ARE CREATED EQUAL 6Global Consumer Pulse Research 2018 Purpose can make a bigger difference to… • Mature markets • “Experience” product categories • Younger customer segments These factors influence the form a purpose might take—and how (and even whether) it will affect their competitiveness. Purpose is less important to… • Emerging markets • “Utility” product categories • Older customer segments Read the report
  7. 7. From Me to We: The Rise of the Purpose-Led Brand ACTIVATING PURPOSE 7 Understanding how to instill a sense of “brand belonging” through a clear and relevant purpose is quickly becoming a prerequisite for competitiveness. Three guiding principles set purpose- driven brands apart. BE HUMAN | BE REAL | BE CREATIVE Global Consumer Pulse Research 2018 Read the report
  8. 8. From Me to We: The Rise of the Purpose-Led Brand ACTIVATING PURPOSE: BE HUMAN 8Global Consumer Pulse Research 2018 • Involve the brand ecosystem (employees, customers and other stakeholders) to identify shared values • Establish emotional connections by actively communicating • Learn to say “I’m sorry.” 55% of U.S. consumers find brands that actively communicate their purpose to be more attractive 43% will give brands a second chance if they apologize Read the report
  9. 9. From Me to We: The Rise of the Purpose-Led Brand Standing for everything means standing for nothing. Consumers don’t fall for insincere attempts to pull at heartstrings. They reward authenticity, transparency and outspokenness. 65% of American consumers find transparency to be one of a brand’s most attractive qualities 58% are influenced by the words, actions and beliefs of a company’s employees ACTIVATING PURPOSE: BE REAL 9Global Consumer Pulse Research 2018 Read the report
  10. 10. From Me to We: The Rise of the Purpose-Led Brand Can consumers co-develop products and services? Can they act as sales partners through channels they control or influence? Can they participate in crowdsourcing schemes to fund new innovations? Can they invest in a company’s growth in exchange for certain perks? Can they… ? Since consumers have a real stake in a brand’s success, it’s time to rethink engagement models. Companies should focus less on investing for customers and more on investing with their new ecosystem partners to drive competitive agility. ACTIVATING PURPOSE: BE CREATIVE 10Global Consumer Pulse Research 2018 Read the report
  11. 11. There’s virtually no limit to the roles consumers can play—or the value they can provide. Ask them.
  12. 12. From Me to We: The Rise of the Purpose-Led Brand READ THE REPORT AND CONTACT ACCENTURE STRATEGY EXPERTS. @AccentureStrat www.linkedin.com/company/accenture-strategy 12Global Consumer Pulse Research 2018 Read the report www.accenture.com/BrandPurpose About the Research In 2018, Accenture Strategy conducted the 14th annual Global Consumer Pulse Research to gain an understanding of current global consumers’ preferences, beliefs and behaviors. The goal was to identify how consumer expectations are evolving—and how companies can capitalize on that evolution to achieve new levels of growth and competitive agility. Our online survey of almost 30,000 end- consumers in 35 countries was conducted between August 1 and October 16, 2018.

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