Businesses with purpose have greater success, at least that’s what research done by Porter Novelli in the US found. When Porter Novelli wanted to discover if the same stood for Australian business they were surprised by the stark differences.
Porter Novelli is one of Australia’s longest-established public relations firms and is part of the Clemenger Network. They partnered with Quantum Market Research to determine what factors drive business success. 5,370 Australians were interviewed and reflected the population by gender, age and state.
Reputation proved to be the greatest driving factor for success of Australian companies, more so than purpose. Reputation is “what people say about you after you leave the room”. The make-up of reputation is three combining factors, in Australian consumers’ eyes, reliability, success and responsibility. Americans see reputation as quality, vision and purpose.
Australian brands with great reputations reap the rewards:
- 40% of consumers are more likely to purchase a product or service from brands seen to be responsible;
- Consumers are 2X more likely to read a social or blog post from responsible companies; and
- Are 2/3 more likely to visit the websites of responsible brands.
Reputation is the most important factor driving Australian consumers. Responsibility makes up a third of the definition of the driving factor but is the most important factor to politically conservative women who are 18-29 years-of-age, with an annual household income of $75K, with dependent children.
Brands seen to have the greatest reputation in Australia are:
- Royal Flying Doctor Service
- Beyond Blue
- Red Cross
- The Salvation Army
- Motoring Clubs
- Walt Disney Company
Responsible brands are twice as important to Australian consumers, than Americans. Australian consumers see responsible brands at those who are, philanthropic, purpose-driven and employer of choice.
Brands who execute one element of reputation well have consumers believe they embody all three factors well. Reversely, brands who are seen to negatively fulfil one element of reputation are seen to fail at all.
Therefore, to gain greater customers, improve your reputation. Do what you say you’re going to do.
To read the full report, please download here.