creating a loyal consumer
Post on 29-Dec-2021
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IntroductionThe importance of corporate social responsibility (CSR) has grown over the last several years.1 Consumers
increasingly value companies not just by what they produce, but how responsibly they operate as a business. Many
organizations engage in some form of giving back to society, addressing an environmental, social or economic need.
But the specific impact of CSR efforts on a company’s reputation, brand loyalty, and bottom line remains unclear.
This paper addresses the importance of CSR in brand reputation and what areas of social impact are most important to
consumers. We look specifically at those who say education is an essential part of corporate social responsibility and find
that they are more likely than others to be engaged with and loyal to brands.
The results presented are from a survey conducted through SurveyMonkey Audience. A survey of 705 adults who had made a purchase
from a superstore in the last 6 months was conducted from August 4-7, 2017. The margin of error is 3.8%
1Crane, Andrew and Matten, Dirk and Spence, Laura J., Corporate Social Responsibility in a Global Context (September 1, 2013). Chapter in: Crane,
A., Matten, D., and Spence, L.J., 'Corporate Social Responsibility: Readings and Cases in a Global Context', 2/e. Abingdon: Routledge, pp. 3-26 .
About the AuthorMeg Moyer, Vice President of Research, EVERFI
At EVERFI, Meg researches the interplay between education, financial institutions, and social factors in
influencing financial capability. She also measures the impact of financial education courses on learners using
assessment and survey data, providing reports of course impact to sponsors, districts, and schools around the
country. Prior to EVERFI, Meg held a similar role assessing the impact of online and offline educational programming
for youth sports coaches. Meg holds a degree in economics from the University of Virginia and an MBA from San
Diego State University.
Learn more about EVERFI and
Corporate Social Responsibility
at everfi.com/CSR or call
202-919-4464
About EVERFIUsing today’s technology to connect learning to
the real world, EVERFI partners with organizations
across the globe to equip their communities with
the skills needed for success in the 21st century.
These courses reach millions of learners a year,
from elementary school students to adults.
2
Key Findings
• About three-quarters (76%) of consumers say engagement in the broader community is
important to brand reputation.
• Nearly half (46%) of consumers say companies have an obligation to take action to
improve societal problems.
• Six-in-ten consumers want companies to spend their CSR budgets on education, the most
of any item tested on our surveys.
• More than six-in-ten consumers (66%) say companies have an obligation to invest in the
future workforce through education.
Education-concerned consumers are more likely than those not concerned with education to be loyal to and
engaged with companies. Those who value education in a company’s social impact efforts are more likely to spend
more money on a product even when a more affordable option exists, recommend a brand to a friend, follow a brand
on social media, download their app and donate to a charity that brand supports.
The Value of Corporate Social ResponsibilityWhile many companies engage in CSR efforts,
their value to consumers and the effect of CSR on
purchasing decisions is far from clear.
We asked respondents how important a range
of issues were to a company’s reputation.
Unsurprisingly, elements tied closely to the product
scored the highest, with nearly all respondents
saying quality, reliability and consistency are
important to reputation.
Building social capital and engaging in the
community are also viewed as important, though.
About three-quarters of consumers say how the
company engages in the broader community is
important to their reputation.
3/4
46%
6 in 10
66%
0
20
40
60
80
100
What is Important to a Company’s Reputation?
98% 97%
76%
Quality Reliability and consistency
Community engagement
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Not only is CSR viewed as an important part of reputation,
but many see it as a responsibility for companies. Nearly half
(46%) of consumers say companies have an obligation to
take actions to improve societal problems, even if they are
not related to their business operations. Consumers have
identified corporate social responsibility as an important part
of brand reputation and further, many believe companies have
a requirement to engage in these socially beneficial efforts.
Customers may say corporate social responsibility is
important to them, but does community engagement actually
have an effect on purchasing decisions? According to our
survey, about six-in-ten consumers (58%) say the social impact
of the company is important when deciding which product to
buy. For many customers, CSR and reputation are important
factors when they decide where to spend their money.
Education’s Role in Corporate Social ResponsibilityCompanies have a range of options when considering where
to spend their CSR budgets. Of the six potential areas tested
in our survey, the largest number of consumers wanted to see
CSR budgets spent on education. Six-in-ten said they want
their favorite brand to use their CSR budget on education.
Consumers who value
education are more likely to
be engaged with and loyal to
companies.
46% think companies have an obligation to take actions to improve societal
problems, even if it is not related to their
business operations
42% think companies do not have an obligation to improve societal problems
that are unrelated to their business operations
Where would you like to see your favorite brand spend their CSR budget?
Education Environment Poverty/Economic equality
0
10
20
30
40
50
6060%
53%
47%
28%
19% 19%
Social justice/Human rights
The arts Health and sports
4
Additionally, majorities of consumers say education is a crucial part of any CSR model. Over three-quarters (78%) of
consumers say it is important that education be a part or remain a part of CSR models.
And consumers not only want education to be a part of CSR models, they say companies have a responsibility
to invest in it. Nearly two-thirds (66%) of consumers say companies have an obligation to invest in the future
workforce through education. On the other hand, just a quarter say companies do not have an obligation to provide
education to students who may or may not work for them one day.
Education-Concerned Customers: Engaged and LoyalNot only do more than three-quarters of consumers want education to be a part of companies’ CSR budgets, but the
consumers who value education are more likely to be engaged and loyal customers. We asked consumers whether
they were likely to engage in six measures of brand loyalty.
Consumers who said education is an important part of a CSR
model were more likely to do all six actions than consumers
who did not think education is an important part of a CSR
model. For example, 76% of education-concerned consumers
say they are likely to spend more money on a brand even
when a more affordable options exists, compared with just
59% of those who do not think education is an important part
of a CSR model. Education-concerned consumers are high-
value customers. Investing in attracting these customers via
education efforts can pay off for companies in the form of
increased engagement and ongoing loyalty.
66% think companies have an
obligation to invest in the future workforce through education
How likely are you to engage with a brand?
Recommend that brand to a friend
89%
Spend more money, despite more affordable options
Donate to a charity that that brand supports
Follow that brand on social media
Download that brand’s mobile app
Share news about that brand on social media
81%
76%
59%
52%
18%
48%
26%
47%
25%
42%
20%
Education is an important part of a CSR model
Education is not an important part of a CSR model
Respondents that Responded:
EVERFI is the leading education technology company that provides learners of all ages education for the real world through
innovative and scalable digital learning.
everfi.com/CSR
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