I just received the results of Cone’snewest research, the 2008 Cone/Duke University Behavioral Cause Study and the 2008 Cone Cause Evolution Study. Key findings from their latest research include:
- Participants spent nearly twice as long reviewing cause-related ads as general corporate advertisements
- 78% of Americans feel companies should maintain their philanthropic giving or even give more during tough economic times
- 79% of Americans would be likely to switch brands to one associated with a good cause (compared to 66% in 1993)
- Education, economic development and health and disease topped the list of priority issues for companies to address
Although this research was conducted prior to the recent stock market collapse and related consumer slowdown, I think that the results today might be even more compelling. Consumers, investors, and employees are paying more attention to corporations that can demonstrate an authentic social purpose and meaning beyond just making money.
Corporations should see this as opportunity to invest in the issues that matter most to their stakeholders. It’s not just the right thing to do, it’s just good business.