If you are a Corporate PR practitioner in a full-service PR firm, it is easy to feel a little bit like the Ugly Duckling. You don your suit and head to a client’s annual meeting, and all the while your consumer-colleagues are hiring celebrity spokespeople, creating influencer integrations and brainstorming big ideas that include things like the World’s Largest Something-Or-Other on a tinted river that runs beneath a lighted-building in your brand colors.
And while we’ve always consoled ourselves with reminders about the importance of a client’s reputation, and the fact that a high-share price paves the way for those seven-figure budgets for the products, we’ve all had the experience of clients who say that reputation is important, but when it comes time to allocate the budgets, the brands always come up big.
If any of this sounds familiar to you, then today is your day. Because MWWPR’s has released research about a big consumer segment called the CorpSumer.
Simply put, the CorpSumer is that customer who really cares about the entire company – its reputation, its values, and its leadership team – even more than they care about the products themselves. And it’s a big segment…Really big: One-in-three Americans. This segment is in fact bigger than Moms, bigger than Millennials and reputation is what matters to them.
They are more loyal, less price-sensitive and more willing to advocate for a brand than the average American. They are market-makers, and market-movers. You can learn more about them in this video we put together, this Forbes article or get right into the data here.
This correlation is something I have always believed, and here at MWWPR, we’ve been talking to clients about it for years – decades actually. But even I was surprised about some of the data. Consider the following:
- More than half of CorpSumers (52 percent to be precise) will stick with a product that has disappointed them because they’ve bought into what the company stands for
- 63 percent of Corpsumers will switch from a product they like to a new product because they want to support something the other Company is doing
- 67 percent will pay full price for something from a company they believe in. (I call that the Starbucks Effect – is the coffee really better? Or do we all buy in to their story, and their leadership?)
- Three quarters of CorpSumers have influenced the purchase decisions of others – both positively and negatively – based on the reputation of the company.
And it gets better … they consume news more than the average American, and 89 percent of CorpSumers regularly share news about companies with their friends and families. They are, in effect, the influencers next door.
CorpSumers are the key to growth for companies in every industry and sector. They vote with their wallets, and they also consider reputation when they choose a place to work and when making investment decisions. Give them something to believe, and they will give you their loyalty and their advocacy.
Today marks the first of a series of posts about the CorpSumer. Over the coming weeks we will dig deeper into the CorpSumer’s mindset, priorities and most importantly, how to engage and activate them. Please feel free to drop us a line with your thoughts, experiences or reactions. And if you are looking for a deeper dive, you can always contact us here.