Why Right Now Is A Great Time for B Corps to Grab Some New Loyal Customers
It turns out the post-pandemic upheaval may be a moment in time for B-corp brands and conscious SMBs to attract and retain new customers for life. 🤗
Depending on which study you read, 50 to 70% of consumers factor in a brand’s stance on social or environmental issues when making purchases.
Consumers Are Switching Channels and Brands
I just love me some McKinsey. 🤓 They say:
“The pandemic ushered in an unprecedented level of channel switching and brand loyalty disruption. A whopping 75 percent of consumers tried new shopping behaviors, with many of them citing convenience and value. Fully 39 percent of them, mainly Gen Z and millennials, deserted trusted brands for new ones.”
“That restlessness is reflected in the fact that many younger consumers say that they are still searching for brands that reflect their values.”
Emphasis added by me because the other research I’m doing tells me it's not just younger consumers who are searching for brands that reflect their values.
Consumers Are Looking for Brands With Shared Values
Consumers willing to try new behaviors and searching for shared values creates a perfect storm for B-corps and regular SMBs to consider Web3 marketing campaigns.
What cool experiences can you think of to communicate your brand values? It's a very important question. Janet Balis said in the Harvard Business Review article 10 Truths About Marketing After the Pandemic:
Old truth: You are competing with your competitors.
New truth: You are competing with the last best experience your customer had.
In spite of some grumpy naysayers in the industry, consumers and influencers of all ages are responding with enthusiasm to different flavors of NFTs, gamification, and tokenization experiences. It's a super interesting space now, feel free to reach out to me or Noleen Mariappen on LinkedIn for a chat. @impactoverse