In an age when business reputations are stress-tested on a daily basis, the companies behind the brands that people buy need to be trusted, transparent and accountable to withstand the rigors of life under a microscope. In partnership with KRC Research, Weber Shandwick released The Company behind the Brand II: In Goodness We Trust, a second instalment in The Company behind the Brand series which looks at how an organisation’s reputation is critical to building deeper trust in its products and services.
The new survey, conducted among consumers and executives across 21 markets worldwide including Singapore, found that today’s consumers are increasingly expecting companies to deliver well-being to their lives whilst closely monitoring company behaviour. Consumer decisions are increasingly being made in response to both the positive personal impact of a brand’s products and the social impact of a brand’s behaviour.
The research found that one of the leading drivers of corporate reputation among consumers is how good or healthy a company’s products or services are for them and how happy they make consumers feel. The “good for me” theme helps to drive purchase decisions. Nearly one-half of consumers increasingly buy from companies that make them feel good and happy (46%) and that care about their well-being (43%). In fact, the personal and individual benefits of a product are a prime consideration in driving purchasing decision-making, overshadowing the impact that companies have on a number of social impact factors. This suggests that companies need to do more to integrate CSR messaging with direct consumer benefits messaging.
The research also found that corporate branding matters. On the consumer front, the reputation of the parent company is often the make-or-break factor in purchase decisions.
Proactive reputation risk management has never been more critical than it is today — preparedness is a must, with a plan that ensures agility in mitigating and addressing issues and crises.
The Company behind the Brand II: In Goodness We Trust provides guidance for leaders who want to know how to do business in an environment where consumers are not just purchasing their products or services on their own merits, but who are also shopping by company reputation, accountability and trustworthiness.
Read our full report here, and get an overview of the report findings below: