Today’s Solutions: February 08, 2023

What makes you buy a product from a certain brand or trust a specific company? Is it a recommendation from a friend? An advertisement? Ethical practices? A new analysis has found that consumers are more likely to trust and buy from “purpose-driven” companies across the board. 

The researchers evaluated how 1,200 consumers reacted to different brands by showing them their logos and asking consumers to record their perceptions of the companies. They were looking for consumers’ initial, gut reactions to different brands. 

What they found was that consumers were more likely to describe a brand as “trust-worthy” if they were purpose-driven, meaning it had a clear goal and objective beyond just profits, usually in relation to environmental, social justice, or health initiatives. 

In addition to trusting purpose-driven companies, participants were also more likely to want to patron them and work for them. 72 percent of respondents said they were more likely to remember a purpose-driven company while 78 percent said they were more likely to want to work for one. 71 percent also said they were more likely to buy from a purpose-driven company over an alternative if cost and quality were the same. 62 percent said it was important to consider the purpose of a company before buying from it, even if it was an impulse buy. 

The main takeaway from this study is that the greater cause behind purpose-driven companies is ingrained in our subconscious. When we think critically, we all want to buy from ethical, positive brands, but even in split-second decisions, we are more likely to trust and buy from companies that go beyond just profits.

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