New research has found that co-branding alongside socially worthy causes really does affect consumer-purchasing decisions.
Research from Effective Measure identified an increasing correlation between brand selection and ethical causes – Australian consumers gravitate towards brands that are affiliated with causes they believe in or want to support.
It was found that Australian digital consumers are a particularly socially conscientious group. Over 61% of respondents had made a donation to a cause, or purchased a good or service affiliated with an ethical campaign or cause in the last 12 months.
When it comes to positive brand association, according to the survey come of the most recognised charity’s were the Red Cross, The Salvation Army and Greenpeace.
When it came to the deciding factors behind actual purchasing decisions on new brands and services, 58% of respondents viewed price as the most important factor.
However, the second most important factor (41%) was whether the brand is socially/environmentally conscious. Closely behind this was whether the brand supports social causes (33%).
In terms of new brand awareness, 46% of respondents would buy a new brand if it supported a cause that they cared about. “The holy grail for brands is relevant consumer engagement. [The] research is clearly showing that brands with a conscience are creating consumer grip,” Claudia Barriga-Larriviere from Effective Measure said.
“Brands aligning themselves with causes are not only securing more consumer consideration, but are also earning their dollars and support. Purpose needs to become a core competency for leading brands and corporations,” Barriga-Larriviere added.