The Ipsos MORI Global Trends 2017 report provides some great sustainability and CSR insights that all businesses should know about.
This latest iteration of the Ipsos MORI Global Trends report was published in May 2017. It is based on 18,000 interviews across 23 countries and provides a fascinating glimpse into the way people view the world we live in.
But it also contains some great sustainability and CSR insights for businesses, including:
- 68% of people believe that the most successful brands will be those that make the most positive contribution to society beyond just providing good services and products;
- Globally, 67% of people agree that it has become more important that the brands they choose make a positive contribution to society;
- Just 24% of Britons measure their success by the things they own and only 33% of us think that fulfilment in life is achieving a prominent position in our careers;
- 85% of respondents in Britain think it is more important to have a good work-life balance than to have a successful career.
We’ve discussed the benefits of doing business with a purpose beyond profit before, and why it’s crucial for businesses to be MAD – Making A Difference – something this Ipsos MORI Global Trends report confirms again.
Whilst it also reveals a telling difference between words and action (when presented with the statement ‘I don’t care if a brand is ethically or socially responsible, I just want them to make good products’ opinion was evenly split, with 45% agreeing and 47% disagreeing) it’s clear that when price and quality are on a par, consumers will choose the brand that does good over the others that are available.
The research also reveals that, in Britain, 56% of us want brands to make it easier for us to make a difference in the world. 38% of us are generally willing to spend extra for a brand with an image that appeals to us, while 51% of us tend to buy brands that reflect our personal values.
According to Marloes Klop at Ipsos: “Sustainability in particular should be seen as not only doing the right thing, but as an opportunity for business. Despite mixed evidence on the impact it has on customers, it is sensible to improve on and invest further in sustainability. Why? First of all, it’s in companies’ own interest. Building a sustainable business by definition increases the likelihood of long-term success. This can manifest itself in many ways: from the way you manage your buildings (e.g. the famous ‘lights out’ motto), handling your natural resources in a responsible way, or developing relations with local communities. Companies should not underestimate the reputational benefit of doing the right thing.”
Look also at what this Ipsos MORI Global Trends report is telling us about the people we employ: if we’re less motivated by materialism and status, what can businesses do to ensure that their people remain engaged and productive? Do we need to rethink the carrots we dangle? It would certainly seem so.
You can explore the research findings in greater detail on the Ipsos MORI Global Trends report website.