It’s certainly safe to say that consumers expect a lot more from the brands they patronize these days than ever before—whether by contributing more to their communities or taking stands on divisive societal issues, brand loyalty is now a much more complex goal for marketers and communicators to attain.
A new report from West Des Moines-based branding and marketing firm Meyocks now reveals the vast majority of today’s consumers—especially those from younger generations—say brands should inspire, advocate and provide value-added information.
The firm’s latest consumer survey shows widespread support for “mentor branding”
With this approach, businesses differentiate themselves by taking their brand a step further—mentoring customers, educating and advocating for them, and showing them how to make their lives better. The survey looked at all brands, and those focused on health and food.
“Mentor branding is an opportunity for businesses to create stronger bonds with customers by inspiring them, advocating on their behalf and providing value-added information,” said Doug Jeske, president of Meyocks, in a news release.
The national survey showed:
- 88 percent of consumers say brands should provide valued-added information to their customers.
- 75 percent of consumers believe brands should work to inspire customers.
- 75 percent of consumers think brands should advocate for their customers.
Specifically, consumers said they want brands to provide information on how to get the most out of a product or service (64 percent), inspiration on how to improve their personal lives (47 percent) and advocacy for the environment (46 percent).
The way consumers feel about a brand can impact their spending habits
The survey showed 56 percent of consumers said they would stop buying or boycott a brand that does not align with their beliefs. In addition, 57 percent said they are willing to pay more for a brand that advocates for something they believe in or feel strongly about.
“Consumers feel strongly that brands should demonstrate mentorship characteristics,” Jeske said. “We’ve found that brands that rate high in these characteristics enjoy faster revenue growth.”
The survey showed millennials and Generation Z—born between 1981 and 2012—are even more likely to choose brands that inspire and advocate for them.
The Meyocks survey was conducted nationwide via an online panel with 1,523 Americans age 18 and over. For results based on the total sample of American adults, the margin of error is ±3 percentage points at a 95% confidence level.