Customer satisfaction is about the product. In these strange times, especially, we see good corporate citizens are important for customers and more importantly prospects of your brand. What is the impact of how brands nurture stakeholders on its long term | MMA / Marketing + Media Alliance

Customer satisfaction is about the product. In these strange times, especially, we see good corporate citizens are important for customers and more importantly prospects of your brand. What is the impact of how brands nurture stakeholders on its long term

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Dominique Hanssens's picture

The key word here is the stakeholders, which is not only the shareholders, but also the employees, and customers, and society at large. Look, we're sort of at the beginning here. We have to see whether this whole issue will be taken seriously, in the sense that, especially now with the despite Covid, we see that the stock markets doing quite well. Then the question is, well, do you really need this even though things are going well as they are. I would say yes, and the reason is as follows. In as far as consumers consider social responsibility to be important, and the Facebook boycot is a good example of that, it will be reflected in their purchase behavior. They'll start to prefer brand A over brand B, because let's say the brands are comparable, but one is associated with more social responsibility than the other. In as far as it becomes a purchase driver, that's really all you need. Because if it's a purchase driver you you will see the numbers go up. And people will react to the financial numbers, the loyalty levels go up, profit margins go up, and you see the stock market reaction. But we do need to see something at the beginning of that pipeline, if you wish, and I believe there's evidence that we are now seeing that.

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