Define and Measure Your Brand Purpose
The global pandemic has made brand purpose more important now than ever. Socially conscious consumers expect brands to rise up and be more responsible. They trust brands that deliver not just on their products, but also on community issues. This makes it as important for brands to measure and benchmark their performance on brand purpose, as they do on other product category attributes.
Brands have a plethora of choices when it comes to picking CSR initiatives ranging from social issues such as embracing diversity, education efforts, and fighting poverty to environmental initiatives such as carbon footprint and climate change. The challenge is to identify the purpose that resonates with its consumers. At MavenMagnet, we have the ability to develop psychographic profile of consumers following their digital footprint across platforms. This helps us understand their values and opinions, and identify the causes and social issues that matter to them. Quantified measurement of voice of consumers also lets us track the level of association and trust consumers develop towards a brand over time based on its brand purpose initiatives.
By mapping the value drivers of the core target segment, we have helped an auto manufacturer pick CSR initiatives focused on veterans support. Subsequently, we also measured the impact of various initiatives such as hiring veterans, special discounts to military families, and vocational training drives to understand their impact on building brand trust, and helped optimize messaging around their programs.
We worked with a technology brand to validate LGBTQ support as a relevant cause and helped develop and track their CSR program around it by identifying specific initiatives such as Pride Month participation and LGBTQ workplace inclusion initiatives that demonstrated high emotional association with the consumers.
At MavenMagnet, we analyze consumer conversations in the form of text, images as well as videos across global digital platforms in every language. This provides us holistic understanding of the brand and its consumers while adhering to the most stringent industry and government privacy standards.