Wednesday, October 19, 2011

Consumers Ready to Boycott Corporate Bad Guys

When it comes to corporate responsibility, consumers aren't just paying closer attention, they're ready to kick brands that don't behave to the curb: Some 93% are willing to boycott corporations that behave poorly, and 56% have already done so.

And they are also willing to reward companies they perceive as responsible, reports the 2011 Cone/Echo Global CR Opportunity Study, with 94% saying they would buy a product that has an environmental benefit and 76% saying they have already done so in the past 12 months. Cause-related products are just as popular, appealing to 93% of the more than 10,000 consumers polled in 10 countries. And 65% have already purchased such a product.

The most important issue for companies to address? Economic development, with 34% of respondents placing it first. Combined with the environment (21%), these issues represent the attention of more than half of the 10,000 respondents. Human rights comes in a more distant third (12%).

The survey -- which included the U.S., U.K., Canada, Brazil, Germany, France, Russia, China, India and Japan -- found that while people are willing to accept a company's word on important issues (with 59% saying companies have educated them on key issues), more are willing to do their own digging. Some 36% say they have done their homework, researching a company's business practices or support of issues; 32% have given feedback directly to the company.

And while consumers say they want a dialog with companies about how they are handling these issues, they still find one-way communication most convenient, with 22% saying they want that information on a package, 21% through the media, and 16% through advertising. A smaller group wants to interact online, with 11% mentioning Web sites, 7% social media, and 3% mobile devices.

The most important element, the Boston-based Cone reports, is simply telling the truth: 88% say it's fine with them if a company isn't perfect, as long as it is honest about its efforts.

(Source: Marketing Daily, 10/04/11)

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