WE Communications analyzed the new rules of corporate reputation and how pressure is being put on brands to help solve three main issues: rising prices, a global climate crisis, and fears of job loss in an AI world.
An online quantitative study of 14,801 consumer respondents was conducted across seven global markets from June 2, 2023, to July 6, 2023.
Key findings include:
1.) 60% of respondents said brands should talk more about how they are addressing the rising cost of living.
2.) 50% of respondents said brands that take a stand on societal issues only do so to sell more products and services.
— Consumers believed that only 44% of brands that have spelled out their commitments are delivering on those promises.
3.) 92% of respondents said strong employer-employee relations are key to a great corporate reputation.
4.) 64% of respondents said responsible use of technology, such as AI or customer data, is becoming a bigger factor in corporate reputation.
5.) 76% of respondents said the most authentic way for companies to show they care is to be transparent with data, followed by being transparent with customer testimonials or reviews (61%) and content that explains what the company is doing and why (53%).
Find the full report here.