This week we released brand new research that looked at the phenomena of the CorpSumer. Whilst you may not have heard of a CorpSumer, it’s important you recognise the unique set of behaviours attributed to this group and its influence.
What is a CorpSumer?
Demographically speaking, CorpSumers have some very specific attributes. For instance, CorpSumers are more likely to be well-educated, be employed full-time, a high-earner in their age group and have children in their household. They are also more likely to be part of Gen Z or a Millennial and are highly vocal. This segment also rivals other highly desirable marketing segments including Millennials (24%) and parents (31%) in size and influence.
CorpSumers place high value on a company’s values and reputation, and all CorpSumers report that reputational factors including corporate citizenship (98%), employee well-being (97%), and opinions of leadership (94%) directly impact their purchasing decisions.
Why do CorpSumers matter?
CorpSumers present an opportunity to build a consumer relationship that can impact a company’s bottom line. In particular, their loyalty can result in a high lifetime value as they are twice as likely to stick with or switch brands than the average consumer. More than half (52%) of UK CorpSumers say they will stick with a company whose products or services they weren’t satisfied with if they believe in.
CorpSumers are natural influencers. 71% would encourage friends or family to buy from a brand they believe in. Nearly three-quarters of CorpSumers are also likely to share positive and negative information about a company in person or on social media. However, when company trust is breached, the majority of CorpSumers would unfollow the company on social media (81%), or post or share content speaking out against the company (71%). Engaging this group is therefore a must for brands.
How do you engage with them?
This group loves and respects a brand that speaks out and takes a stance on societal issues. 93% prefer companies take a stand, and 84% prefer they do so even if they don’t agree with the brand’s position on an issue.
One brand that engages this group particularly well is Nike. Its recent backing of Colin Kaepernick is testament to this. Their decision to back a potentially divisive athlete has led to blacklash with some consumers torching their Nike apparel. However, it has lit a flame in bellies of its core fans and by backing a societal issue in a genuine way, it has reported a sales increase of 31%!
Where can I find out more?
To learn more about MWWPR’s CorpSumer research and brand insights, please visit www.mwwuk.com/corpsumer.