Originally published in CMO.com
As the drivers of brand reputation expand beyond marketing to include supply chain, employee wellness and engagement, and the impact on both local communities and the planet at large, companies are on the hook to reframe their brand stories in terms of global stewardship for positive social change.
With 55 percent saying they’ve boycotted a brand in the past 12 months, and those companies on the Meaningful Brands Index outperforming the stock markets by 120 percent, Edelman’s key learning from its annual Trust Barometer Report sums up this opportunity well: “Business must lead the debate for change.”
Capitalizing on these cultural behaviors is becoming increasingly difficult as more and more brands come to market with a message of purpose. It’s not enough to simply put a ribbon on a package or talk about sustainability in broad-sweeping terms. Rather, brands must commit to authenticity and expert storytelling to connect with consumers.
In order to be positioned well ahead of competitors and at the heart of what the consumer-driven marketplace will reward, brands must take on the following four challenges: