Doing good can be very good for a brand’s bottom line
Does goodness pay? If a company makes a “goodness” dimension central to its business strategy it certainly does. In a recent article in Forbes, I wrote about the fact that doing good will be increasingly important to companies as they try to differentiate their brands going forward. With consumers weighing not simply value, but corporate values into their purchase decisions, companies will be required to set themselves apart on factors that go beyond taste, or speed, or comfort. In fact, at Landor we’ve recently set up a practice dedicated to helping our clients align what we call “Brand Citizenship” with their business objectives. In other words, getting a return on their goodness investments. Charity used to begin at home. Today, it also begins with smart companies who understand that consumers are looking to them to help solve some of the economic, social, and environmental issues of the world. Companies who also understand that the return on their good efforts will do a good job of differentiating them from their competition and a good job of helping the bottom line.
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March 30th, 2009 at 2:04 pm
great post. With today’s social media capabilities its so much easier for brands to receive direct feedback from their consumer, offer help and advice on using their brands, and provide excellent customer service. Great way to also build brand loyalty
Brian Martin