Brand purpose and responsibility are more important than ever — “for the societal good, yes, but also to connect with young consumers whose views are increasingly progressive,” states a post by Martin Agency Senior Editorial Writer Mimi Montgomery
According to Montgomery, “83% of younger consumers want companies to reflect their personal values, and 76% want CEOs to take a stand on issues important to them, says 5WPR’s Consumer Culture report. And with Gen Z’s estimated spending power sitting at $150 billion and Millennials’ at an estimated $1.4 trillion, companies can’t afford to not appeal to them.
“The next generation of consumers and marketers see purpose as a must, not an additive. Therefore, advertising and marketing instructors are increasingly focused on brand purpose, and some colleges and universities specifically incorporate it via programs like the Yale Program on Climate Change Communication and the University of Oregon’s Master’s Degree in Advertising and Brand Responsibility.
“Newer advertising students show an inherent interest in talking about issues like diversity, sustainability and accessibility. But professors note that it’s essential they learn to think about advertising within the context of purpose to create meaningful work and change consumers demand.
Illustration by Brand Communications Designer Will Maynard