Driven to a higher purpose
All crises eventually end so we must focus on shifting gears to drive economic and humanitarian recovery. That’s why the Capgemini Research Institute is releasing a series of research notes with pragmatic guidance on how organizations can take action on the things that matter in the wake of COVID-19.
Previously, we focused on how our desire to minimize physical contact is driving demand for contactless interaction. But in addition to a safer, healthier world, consumers want a better world – and they expect organizations to play an active part in creating it. So this time, in Why purpose-led organizations are winning consumers’ hearts, we examine the consumer perspective on purpose-driven organizations.
We wanted to understand how the pandemic is shaping consumers’ perception of purpose and changing their expectations of organizations, and to determine whether this will lead to increased engagement and loyalty. We also explored how the current racial justice movement is shaping consumers’ expectations. To these ends, in late May we surveyed over 7,000 consumers from seven countries. Social and racial justice questions were asked of consumers in mid-June. We also analyzed social media engagement for over 1.5 million conversations for 19 companies that made important contributions to COVID-19 relief efforts.
We found that consumers have high expectations of what it means to be purpose-led and will reward organizations that make a positive contribution to this health crisis and the current racial justice movement. In fact, 75% of consumers will prioritize purchasing from those companies that give back to society during the pandemic and 64% of consumers will have a more positive perception towards a brand that takes a stand against racism. That’s why consistency in how companies live their purpose is so important. After all, actions speak louder than words.
As we navigate this unprecedented time together, we hope that these research notes offer compelling insight into the importance of leading with purpose. In our next edition, Fast-Forward to the Future: Defining and winning the post-COVID New Normal we will look at the trends that define the new normal in the post-COVID world. Until then, be well and focus on what matters to you.