Breaking News:
When 1001 consumers were interviewed in 2010 the results were amazing:
Consumers want transparency, honesty, socially responsible brands with 75% of consumers supporting socially responsible businesses and 55% preferring socially responsible products
However there seems to be a serious need to improve CSR Branding and Communication
Despite this high preference for socially responsible companies & products, only 11% of consumers report having heard a CSR message from any company in the past year, and only 13% have ever read the CSR content of a corporate website.
This shows that companies are not communicating their CSR credentials well enough, especially with 50% of consumers prepared to pay a premium of at least 5% for socially responsible products
However, probably the most telling statistic is that 13% who have read a company's CSR website, 75% were then more likely to buy that company's product over a competitor's.
The message of these figures:
- customers want to hear CSR messages from companies and the products they are buying
- customers are prepared to pay a premium for socially responsible products & services
- customers are 75% more likely to buy the products of a company whose CSR message they have read
Conducted by Penn Schoen Berland & Burson-Marsteller and Landor; 1001 online interviews with the general public (ages 18+) from February 10-12, 2010. Overall, the margin of error is +/-2.53%, and greater for subgroups.