As the consumer market becomes increasingly saturated with competitive product and service offerings, branding is emerging as a key differentiator for prospective consumers. Thanks to a growing number of digital channels that allow consumers to interact with brands, consumers have the opportunity to be well-informed before they make a purchase. The most recent Edelman GoodPurpose study, which “explores consumer attitudes around social purpose, including their commitment to specific societal issues and their expectations of brands and corporations,” supports the notion that consumers care about how brands address social issues. Fostering a win-win relationship between business and the greater community is the ultimate goal of creating a brand with a purpose.
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Fabian Geyrhalter is the Principal of FINIEN, creating clarity for brand transformations.
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