Purpose in a Crisis
Brands need to step up to help those affected by the cost of living crisis, even if it costs them, GOOD finds in latest national report.
Conducted in partnership with YouGov, the Purpose in a Crisis report finds that most of the nation think businesses have a responsibility to help, despite risks to profit-making, and almost half of Britons would avoid brands that don’t seek to address the crisis.
Headline findings:
- Cost of living support communications needs to be visible: 45% of Britons claimed they had not seen examples of any businesses that had supported people amid cost of living increases.
- Scepticism remains high: 74% agree that actions speak louder than words i.e., what a brand does to address the crisis is more important than what it says.
- In this turbulent time, partnerships are critical: in the crisis, charities are seen as more empathetic, trusted, and effective than businesses.
Request the report by emailing hello@goodagency.co.uk
As we approach winter, the cost of living crisis has tightened its grip on the nation. We are experiencing the biggest fall in UK living standards in history. With 93% of Britons reporting an increase in their outgoings (ONS, 2022), Britain is beginning to confront a new reality of recession, now impacting all realms of society.
During times of austerity, the mood of the nation is understandably anxious and pessimistic. Constant political and economic upheaval has translated into further financial strain for ordinary Britons, and this is reflected within the pages of this report.
GOOD’s research aims to provide brands with a unique understanding of how the crisis is impacting the British public and their subsequent expectations from businesses. As you will see in this report, the findings demonstrate that, in line with other crises, the role of brand is being called into question. Britons strongly believe that brands and businesses play a critical role in helping the nation to navigate the crisis. Those that don’t will be remembered for the wrong reasons, with just under half of all respondents stating they would avoid brands that don’t address the crisis.
Authenticity and visibility of communications from brands during this time have also been shown to be important. We found that nearly 1 in 2 Brits have not seen any businesses supporting people during the crisis. Brands now have a huge opportunity to ensure their purposeful communications stand out creatively – and are substantiated with real, demonstrable impact. Those that do will leave an overwhelmingly positive impression in the minds of the public. Words like understanding, ‘responsible’ and ‘human are being used to describe brands that support people.
In this report, we unveil the positive actions brands can take since actions speak louder than words. The cost of living crisis is proving to be the ultimate test for businesses to prove their positive impact
Posted by Lucy Martin
