Do Americans know what your brand stands for?
In the last several months, many companies have stood up in the face of controversies our country is embroiled in and taken stands. Think immigration, gun control, #metoo. And over the last several years, new companies have emerged that have a stand or social purpose baked into their brand’s DNA or even their business model (think TOMS shoes or Warby Parker).
At Shelton Group, we wanted to know how that was playing with consumers. When a brand stands for something, does it put them in a more favorable position from a public perception standpoint? Does it make folks more likely to buy their products? At the highest level, is this something people even want brands messing around with – are companies expected to stand for something other than business?
So we fielded a study in May to get the answers, and you can download it here. Spoiler alert: the answer to all of those questions is yes (which was what we suspected). In fact, a strong stand can elevate a lesser-known brand to the same level of favorability as a well-known, well-loved brand. There’s just one caveat: Americans are TERRIBLE at matching brands and stands. So if you’re taking a stand, but not shouting it from the rooftops, you’re missing out on increased favorability, sales and value.
It’s a good read and a quick read. Download it, share it around with your colleagues and let us know what you think. And let us know how we can help you leverage your brand’s stand.