“Industries consumers perceive as lacking in responsibility may have the greatest opportunity to benefit from authentically improving their image,” said Scott Osman, global director of the Landor Associates Citizenship Branding practice. “Johnson & Johnson, a recognized leader in corporate responsibility, performed very well relative to the healthcare sector this year. The fact that consumers cite the poor performance of these industries shows that consumers care and are paying attention. By communicating real success in the area of corporate responsibility, corporations have the potential for considerable benefits.”
The survey also found that companies have an opportunity to influence consumer perceptions if they are able to communicate their social responsibility efforts more effectively. Just 13 percent of consumers report having read about a company’s social responsibility agenda on its website – but 75 percent of those who have done so indicated that it made them more likely to purchase products or services from that company.
“Companies need to combine strong social responsibility programs with effective communication of what they are doing,” noted Eric Biel, Managing Director for Corporate Responsibility at Burson-Marsteller. “While many consumers may not be precise in how they define terms like ’corporate social responsibility,’ they do have a clear sense of how they expect companies to behave. They expect companies to offer high-quality products at good prices and to explain how they treat their employees well, give back to their communities, and respect the environment. Those companies that can clearly articulate how they advance these values to consumers can achieve real benefits for their brands and their overall reputation.”
Socially responsible behavior can also have significant positive business impact. Even during tough economic times, 38 percent of respondents still plan to spend the same or more for products and services from socially responsible companies. And 70 percent are willing to pay more for a $100 product from a company they regard as responsible.
“Social responsibility remains a differentiator for purchases. Though the recession is causing consumers to be even more price-sensitive than usual, many are still willing to put their pennies where their principles are,” said Scott Siff, Executive Vice President of Penn Schoen Berland. “And when price is comparable, the choice is no contest – 55 percent are more likely to choose a product that supports a certain cause when choosing between otherwise similar products.”
Other key findings of the survey include:
- Of 14 tested industries, Food, Consumer Goods and Retailers are perceived as performing best, while Financial Services, Healthcare and Media are perceived as performing worst.
- Consumers perceive General Mills to be the most responsible of 64 tested brands.
- Seventy-Two Percent say they will make some sacrifices in their spending or in their salary to support social responsibility.
