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Today at SXSW, “How Hyper-Developing Markets Are Kicking Ass” celebrated the groundbreaking brand campaigns emerging from so-called developing nations—countries like Malaysia, India, and more have become home to purpose-driven campaigns that add value to the world. Mark Lenderman, founder and principal at School, explored the staggering passion that consumers are voicing in an era where empathy is now a competitive edge and advantage.
Consumers are loyal to empathetic brands. To give you an idea of just how much:
- 87% of global consumers say that the businesses they want to engage with need a social interest.
- Only 20% believe businesses have a social interest.
- 90% of consumers would boycott a brand with an anti-purpose.
- 54% of consumers do not trust brands.
So where exactly are these purpose-driven programs campaigns coming from? Countries with a high youth population. Highly empathetic countries have a high number of young people—Myanmar is number one. More specifically, youth is breading a culture of empathy and driving the rise in volunteerism. These countries have tapped into the human insight of what consumers are seeking out in a brand.
Three lessons learned:
1) Empathy leads to better advertising. Half of 2013's Cannes Lion Grand Prix winners were purpose-driven.
2) Brands must become good corporate citizens to retain consumers
3) Empathy is now a competitive edge and an advantage leading to ROI.
Written by Ron D'Amico, Associate Director, Corporate Communications, DigitasLBi