Many companies have proclaimed the well-being of customers, employees, society and the environment as a new goal for shareholders in addition to the economic outcomes. But how credible is the why mission of the company and its brand actually perceived?
Is the brand purpose realized in the customer perception?
In a recent study, the consulting firm Globe One has examined 48 popular German corporate brands such as Audi, Rewe, Volkswagen, Bosch, etc. The basis for this has formed a consumer survey of around 3,500 consumers. Globe One`s goal was to find out whether a brand looks likeable and innovative, and the question of whether a company in the view of consumers is considered honest and with fair practices ? A Purpose Readiness Index (PRI) was developed for this purpose. A maximum of 100 points can be reached and the key figure indicates the consumers' perception of the company and the brand.
Front-runners were here with a PRI of over 70 - Rewe, Aldi, Continental and Bosch, followed by Adidas, Siemens, and Henkel at the bottom, knocking off Deutsche Bank, Vonovia (a national real estate company) and Volkswagen, which was not surprising after the numerous controversial public discussions.
Conclusion: More than half of the companies surveyed do not address their purpose in the perception of the consumer. Hence there is still a lot of room for improvement and I recommend to the responsible managers not only to look at the ROI but also to have a look at the ROP (Return on Purpose). According to Joe Kaeser (Siemens CEO), a sustainably practiced purpose is the prerequisite for long-term corporate success.
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