Behaving responsibly – winning trust
Brands not only have to do the right thing by the people who buy them – they also have to do something for the greater good.
For many brands, not just in France but around the world, corporate social responsibility (CSR) has been a fairly recent addition to the public relations remit. A bit of tree planting, recycling, and turning off the lights.
But the world’s consumers are telling us that the way a business behaves has a strong bearing on their propensity to buy.
BrandZ has therefore examined the performance of French brands based on how socially responsible they are perceived to be.
The most socially responsible brands among the 43 brands common to both this year’s and last year’s rankings rose in value by 14 percent, on average, while the low scorers on CSR gained just 7%.
Closely related to this is the level of trust that consumers feel about a brand. Trust is important not just because it’s an indicator of whether a consumer will buy a brand again, but also because BrandZ global research shows that trust and recommendation are strongly linked. Recommendation matters enormously now, given the increasingly widespread usage of social media.
Trust often takes many years to earn, and some of the most trusted French brands have indeed been around for decades – names like Michelin, Hennessy, Air France and Evian. Many of the Top 10 most trusted brands also feature among the brands seen as having the strongest CSR.