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From Me to We: The Rise of the Purpose-Led Brand

accenture
accenture

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 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=strat_latestthinkingslideshare_10436878&n=smc_1118

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THE RISE OF THE
PURPOSE-LED
BRAND
FROM ME TO WE
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:62% of
consumers
want companies to
take a stand on issues
close to their hearts Authentic Meaningful
Long-Lasting Profitable
Read the report
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:
65% of
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
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
consumers are
disappointed
by a brand’s
words or
actions on a
social issue:
53%criticize
47%walk away
17%never come back
Read the report
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 consumers to one brand over another?
66%culture
66%transparency
65%treatment of
employees
62%sustainability
62%ethical
values
Read the report
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

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From Me to We: The Rise of the Purpose-Led Brand
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From Me to We: The Rise of the Purpose-Led Brand

  • 1. THE RISE OF THE PURPOSE-LED BRAND FROM ME TO WE
  • 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:62% of consumers want companies to take a stand on issues close to their hearts Authentic Meaningful Long-Lasting Profitable Read the report
  • 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: 65% of 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. 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 consumers are disappointed by a brand’s words or actions on a social issue: 53%criticize 47%walk away 17%never come back Read the report
  • 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 consumers to one brand over another? 66%culture 66%transparency 65%treatment of employees 62%sustainability 62%ethical values Read the report
  • 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. 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. 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.” 64% of consumers find brands that actively communicate their purpose to be more attractive 42% will give brands a second chance if they apologize Read the report
  • 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. 66% of consumers find transparency to be one of a brand’s most attractive qualities 65% 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. 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. There’s virtually no limit to the roles consumers can play—or the value they can provide. Ask them.
  • 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.