One of the most difficult tasks in business is getting a first time customer. You’ve created a valuable product or a much needed service, but now you need that new customer to take a chance on your business. And why would they? Every day brings more bad news about the world we live in. And customers aren’t just asking what they can do about it, but what is your business doing?
In 2018, Edelman conducted a study into what customers really thought about businesses taking a stand on social issues. What they found might shock you:
- 64% of customers identified as belief-driven buyers, in other words, 1 in 2 customers
- Belief driven buyers are majority in every market, age group and income level
- Of belief-driven buyers, 67% bought a brand for the first time because of its position on a controversial issue.
- Of belief-driven buyers, 65% will not buy a brand because it stayed silent on an issue it had an obligation to address
We live in a world where customers believe that brands have an obligation to make a positive impact. How is your brand making its stance known?