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OVERCOMING CONSUMER SKEPTICISM
Some brands are taking the lead by getting their messages out and it is resonating with their followers. Socially-responsible advertising is improving brand perception and returns. A December 2021 study showed that companies successfully demonstrating social responsibility are seeing a 17% rise in brand perception, and are 35% more likely to be perceived as environmentally friendly. Companies additionally showed demonstrable increases in buying intent, as high as 105%.
In the wake of the “fake news” epidemic, how can consumers trust that the brands they follow are authentically acting on what they preach? Consumers are skeptical about social messaging from companies. One recent study showed that only 20% of consumers trusted brand sustainability claims. To make an impact, organizations need to do more than just talk about ESG. They have to act.
ACTION STEPS TO IMPROVE ESG PRECEPTIONS
Companies that are taking the lead in ESG are using a set of principles to successfully carry out their missions. According to PwC, this includes taking six action steps to improve ESG:
Tell a cohesive and balanced narrative about an organization’s ESG policies and practices.
Leverage ESG reporting to help transparently tell the story by using the same rigor as applied to financial reporting.
Prioritize and balance ESG with growth and a focus on the long-term impact on stakeholder trust, brand, and reputation.
Take the lead on climate change with net-zero commitments and demonstrate measures to reduce emissions across the entire value chain.
Demonstrate a concerted commitment to D&I as you would any other serious business problem.
Declare privacy and security of consumer data as a core value and rebuild trust with consumers.
OVERCOMING CONSUMER SKEPTICISM
Some brands are taking the lead by getting their messages out and it is resonating with their followers. Socially-responsible advertising is improving brand perception and returns. A December 2021 study showed that companies successfully demonstrating social responsibility are seeing a 17% rise in brand perception, and are 35% more likely to be perceived as environmentally friendly. Companies additionally showed demonstrable increases in buying intent, as high as 105%.
In the wake of the “fake news” epidemic, how can consumers trust that the brands they follow are authentically acting on what they preach? Consumers are skeptical about social messaging from companies. One recent study showed that only 20% of consumers trusted brand sustainability claims. To make an impact, organizations need to do more than just talk about ESG. They have to act.
ACTION STEPS TO IMPROVE ESG PRECEPTIONS
Companies that are taking the lead in ESG are using a set of principles to successfully carry out their missions. According to PwC, this includes taking six action steps to improve ESG:
Tell a cohesive and balanced narrative about an organization’s ESG policies and practices.
Leverage ESG reporting to help transparently tell the story by using the same rigor as applied to financial reporting.
Prioritize and balance ESG with growth and a focus on the long-term impact on stakeholder trust, brand, and reputation.
Take the lead on climate change with net-zero commitments and demonstrate measures to reduce emissions across the entire value chain.
Demonstrate a concerted commitment to D&I as you would any other serious business problem.
Declare privacy and security of consumer data as a core value and rebuild trust with consumers.