We function in an age of transparency
Corporate culture is becoming your brand. Today, consumers can look inside your culture and your company. They can see your people, the processes they use and their ethics and values. Your internal corporate culture is now customer-facing. What they see affect the emotional associations with your brand and your business.
We live in a connected world
Based on 2018 research data from the Incentive Research Foundation, there is a strong desire not for more choice, but for more meaning. Millions of consumers around the world are searching for ethical, sustainable, and meaningful experiences. According to Cone Communications (2017), 70% of millennials are willing to spend more on brands that support causes they care about. These consumers need the brands they engage with to tell a positive story, a snapshot they can post on Instagram that reflects their values. Their choices are about creating a personal identity of being smart, connected and ethical.
We can no longer ignore the negative impact of our consumerism on the planet, and our society and health. There is a shifting trend in business and consumerism that adds another level of responsibility for those of us in charge of procurement and gifting. It is not only about the right item at the right price in a world of abundance, but also about making choices that reflect the sense of meaning desired by employees and clients. We are being held responsible for expressing that meaning when we purchase and gift. Does what we choose to spend money on, reflect the values we want our brand to stand for?
Consumers are more aware and concerned for the broader social good
They are looking for brands to play their part in addressing some of the world’s biggest challenges. Buyers are implementing changes to the profit-maximizing mindset, changes that transparently reflect the social awareness of the brand they represent.