When I heard this question posed on NPR, “Should brands take positions on social or political issues?” My answer was a resounding, Hell YES!
The reason is simple: while our head validates purchases we make; our heart is the driver of that purchase. Brands we love don’t just offer goods and services, they align with our values. They tell the world who we are and what we’re about.
Backed by Research
In the United States, it has been shown that when a brand supports the LGBTQ+ community customers are two times more likely to buy that product. 2x more likely! That’s a big check in the inclusivity box.
Case in Point: Patagonia (of course!)
This year, Patagonia transferred ownership to Patagonia Purpose Fund ensuring that all profits go toward combating climate change and protecting underdeveloped land across the globe. This singular measure translates to $100M a year.
Patagonia’s mission, “We’re in business to save our home planet,” turned a conviction into a reality. And consumers took notice.
Patagonia is not alone. Many companies you love make principled stands and invest to further their beliefs. Nike. Disney. Salesforce. Ben & Jerry’s.
These companies have social initiatives that aren’t necessarily embraced by all, but their strength of commitment and positive impact is the winning formula. It is telling your customers (current and prospective) why you’re in business and why they should care.
Sad Case: Bud Lite (of course!)
Poor Bud Lite had its own identity crisis for the world to witness. First, they’re in support of the LGBTQ community recruiting Dylan Mulvaney as a spokesperson. No! Wait, they’re not. Which is it? Waffling resulted in sales plummeting, executives on leave, and worse. (What do employees think of their employer now?) Oh no. We would argue if they stood behind their support instead of responding to the likes of Kid Rock, they would have weathered much better. Taking a strong stand and then backing away is, well, pathetic. And everyone sees it.
Bottom Line
In a world (business, lifestyle and political) divided and fraught, it has never been more important for brands to stand up and act. The result leads to a stronger alliance with your customers, stronger profits and ultimately a better place to work, live and thrive.