Why purpose-led organizations are winning consumers’ hearts
All crises eventually end so we must focus on shifting gears to drive economic and humanitarian recovery. That’s why the Capgemini Research Institute is releasing a series of research notes with pragmatic guidance on how organizations can take action on the things that matter in the wake of COVID-19.
Previously, we focused on how our desire to minimize physical contact is driving demand for contactless interaction. But in addition to a safer, healthier world, consumers want a better world – and they expect organizations to play an active part in creating it. So this time, in Leading with purpose through the COVID-19 crisis and beyond – what consumers expect from large organizations, we examine the consumer perspective on purpose-driven organizations.
We wanted to understand how the pandemic is shaping consumers’ perception of purpose and changing their expectations of organizations, and to determine whether this will lead to increased engagement and loyalty. To these ends, in late May we surveyed over 7,000 consumers from seven countries. We also analyzed social media engagement for over 1.5 million conversations for 19 companies that made important contributions to COVID-19 relief efforts.
We found that consumers have high expectations of what it means to be purpose-led and will reward organizations that make a positive contribution to this crisis. In fact, 75% of consumers will prioritize purchasing from those companies that give back to society during the pandemic. That’s why consistency in how companies live their purpose is so important. After all, actions speak louder than words.
As we navigate this unprecedented crisis together, we hope that these research notes offer compelling insight into the importance of leading with purpose. In the next edition, we will seek to understand how organizations plan to mobilize their transformation (digital or business) in their organization post COVID-19. Until then, be well and focus on what matters to you.