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With global warming concerns on the rise, many companies have shifted their focus toward sustainability. Consumers have become more conscious of the environment and are demanding that businesses increase their efforts to be environmentally sustainable. This has become a crucial consideration for investors who are now only looking to support businesses with solid ESG policies.
Advancements in digital technology have changed the way consumers view and interact with brands. While this has been great in bridging the divide between businesses and consumers, it has also made non-sustainable companies more susceptible to scrutiny.
Over 90% of executives say that sustainability is important, but only 60% of companies incorporate sustainability into their business model. These figures are puzzling, particularly as a Statista survey has indicated that 89.5% of companies believe integrating sustainability into their marketing is a solid return on investment in 2022.
Build a brand the world chooses
As a leading AdTech provider with best-in-class audience intelligence, Ogury has long possessed an in-depth knowledge of audiences and their buying factors. We are proud to announce that we can now share these insights with the rest of our network. Ogury Brand Index (OBi) is the world’s first and largest brand index featuring a 100% mobile audience. Additionally, It is the world’s only brand index that exclusively utilizes cookie-less and ID-less technology.
OBi tracks five key equity parameters that are vital for business growth in the 21st century:
- Ecologically sustainable
- Useful to me
Sustainability: it’s bigger than you think
Through the power of OBi, we have uncovered fascinating insights into the top buying factors for consumers across tech and finance. For example, our research discovered that holiday shoppers are not only looking for the best deals and discounts but also consider whether their products have sustainable packaging.
In Mexico, OBi has revealed that 21% of surveyed consumers consider ecological sustainability a key factor influencing their buying decisions during the Black Friday shopping season. This figure is a surprise for payment brands such as American Express and Visa, where consumers have long considered trust to be the top buying factor.
It’s not all about innovation
We have also discovered that tech – a sector that has long been synonymous with innovation – has shifted as other brand values have become more important to consumers. In the U.S., 32% of consumers said they most associate tech brands with being ‘useful to me.’ That is 3x higher than the other factors offered, with innovation coming in at a low 8.2%.
However, across the Atlantic, things are very different. The Italian market registered a staggering 28.3% of consumers that seek trustworthiness from their tech brand of choice. Germany and the U.K. were not far behind, with 21.7% and 22.1%, respectively. Japan also registered a very high 27.2% for trustworthiness. So why are these factors so different across the globe?
Indeed a solid argument can be made that the rise of GDPR and APPI in Europe and Japan is a contributor. The sentiment has changed. Consumers have become aware of their data’s value, and increasingly look to protect it from the prying eyes of corporations. There is also the matter of cybercrime being at an all-time high. Many have sadly had the misfortune of experiencing financial fraud, hacking, or identity theft.
The roll-out of such initiatives has been slower in the U.S., although it has made headway since the introduction of the CCPA. Overall, it is clear that trust is a much more critical factor for audiences in Europe and Japan. To guarantee future success, marketers need to evaluate and understand their audience’s brand values across different geographies
Time to embrace change
In recent years, many large multinational companies have been accused of “greenwashing” for insincere environmental practices. In fact, a recent report from the European Commission has shown that 42% of evaluated businesses were found to be deceptive regarding their environmental policies. Modern consumers are better informed than ever before. Combine those expectations with aggressive competition in the market, and they now expect more from products, services, and businesses.
While buying factors have historically been very static (innovation leads tech, and reliability leads finance), we are on the cusp of a significant paradigm shift. Consumers are beginning to look to brands that change with the times and leverage these new buying factors by tailoring their campaigns around them.
It is, therefore, critical for companies to ensure that they have a full understanding of the brand factors that influence their target audience. With OBi, we can now share our unique consumer insights and expertise with our partners and help them build a brand the world chooses.