New research released last month by the World Federation of Advertisers shows marketers around the world overwhelmingly believe purpose needs to be part of a successful brand building strategy. The survey conducted from Aug 2013 to Feb 2014 questioned 828 respondents from 33 countries. It defined “purpose” for Marketers is about Corporate Social Responsibility (CSR) and ethics.
From the presentation of the survey results, many interesting insights. 91% of marketers surveyed said they believe it is possible to measure the impact of ‘purpose’ on consumer engagement.
What consumers say: 39% of consumers in the US are willing to pay a premium for a product that supports a good cause. The highest was China with 80% of consumers in China willing to pay a premium and the lowest was UK at 28% of consumers.