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Posts Tagged ‘corporate social responsibility’

Study: CSR and Charity More Valuable Than Ever, Especially Among Hispanics

shutterstock_76636639One thing that pretty much every Millennial consumer study tells us is that young people greatly appreciate brands that act responsibly, even if they don’t always have the time to research the nitty gritty or compare and contrast which businesses live up to their taglines.

A recent study by Cone Communications, however, went a bit deeper. Some findings:

  • 88% of the public wants to learn more about what companies with existing CSR programs are doing
  • 94% of Hispanic Americans say they’re “very likely” to switch brands based on CSR efforts (compared to 89% in the population at large)
  • 75% of Hispanics have already donated to charities this year (65% among general public)

The basic conclusions are obvious for brands, but we’ll do a little more digging (full study available for download here):

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CSR Is More Valuable Than Ever…or Is It?

Everyone agrees that CSR efforts are extremely important for big-name corporate clients, right?

No, seriously: we don’t know the answer to that question, and it all comes back to the biggest challenge in the industry: drawing a solid line between point A and point $.

First: The results from data king Nielsen’s latest Global Survey on Corporate Social Responsibility have already inspired headlines about CSR cementing its place as a crucial element of the big name PR equation.

Its basic finding: 50% of consumers surveyed in 58 countries say they’re willing to pay more for goods and services from companies that have “implemented programs to give back to society.” That number increased in ¾ of the countries surveyed, rising 5% in total since 2011. And the “yes” votes were highest in the crucial under-30 demo.

No surprises there. The only finding that we didn’t expect is the 12-point increase in pro-CSR sentiment among the 40-45 demo. Seems like CSR’s value has become clearer to all parties, no?

Maybe.

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