Millward Brown study shows purpose-driven brands grow faster
In Millward Brown’s 2016 100 Most Valuable Global Brands report, the market research company made a substantive case for brand purpose. It highlighted the growth of brands who make a difference in the lives of consumers and focus on more than just making money.
Key findings from the report include:
- A survey of consumers showed that brands who scored high in the category, “Makes lives better” grew 81 percent from 2006-2016 while ones that scored lower grew only 24 percent in the same time period.
- Brands most perceived to stand for innovation and higher purpose have the greatest employment appeal.
- The strength of a brand purpose directly correlates with how positively the company’s work environment is perceived.
Click here to read the full report.