JYE BECKETT’s Post

💡 Purpose AND profit? Is it possible? Absolutely. 💡 When 77% of consumers say they would be more willing to buy from a company with a strong social and environmental commitment (Forbes). And a study by Nielsen, shows that 66% of consumers are willing to pay more for products and services from companies committed to positive social and environmental impact, there's a strong business case for putting purpose before profit. When I first stumbled upon the idea, it left me pondering how to best integrate it into a business. Now I've come across another approach that facilitates this — and it's known as Steward-Ownership. Here's what it entails: 1️⃣ Steward-ownership shifts the focus from shareholder value to the company's purpose, enabling a powerful alignment between business goals and societal impact. 2️⃣ It transforms shareholders into stakeholders, making the purpose of the company a long-standing commitment rather than a fleeting trend. 3️⃣ It achieves this by dividing shares into 'steward shares' which hold voting rights, and 'economic shares' which hold dividend rights. This structure allows for responsible decision-making and equitable profit-sharing. 4️⃣ The end result? Steward-owned companies are not only profitable and competitive but also encourage employee motivation, customer loyalty, and long-term resilience. In essence, steward-ownership offers a compelling alternative to traditional shareholder ownership. Purpose and profit are not mutually exclusive – with the right structure, they can coexist and even bolster each other. Patagonia is well known for it, Tony's Chocolonely is another one and last but not least: Lemonade #PurposeOverProfit #StewardOwnership #BusinessModels #SocietalImpact

Research has found that almost half (49%) of marketers are wary of working on sustainability projects in case the work is accused of ‘greenwashing’. There is no need to fear ‘greenwashing’ if you are assured that your business is transparent with its sustainability initiatives. At Rumpus, we are not fearful of ‘greenwashing’, as we know we are making legitimate change as a business. With B Corp being evidence based, this certifies our commitment and honesty. #BCorp #sustainability #betterbusiness https://lnkd.in/eBMwqeAM

An unpopular opinion, but probably true. The EU #greenclaims - the so-called greenwashing directive - is finally forcing marketing and advertising professionals back to using creativity and differentiation in building brands. While the directive is primarily aimed at sorting out the myriad jungle of various green claims, there is a bigger shift taking place. In recent years, we have witnessed brands eagerly jumping on the sustainability bandwagon. We've been told how the world will be perfect in 2050, or how mayonnaise will save the planet from food waste. The backslash has been understandable and well placed, and among others, Unilever is re-aligning its brands closer to actual consumer insight and purchase criteria. This will not be away from any real sustainability action. It will, however, reduce and remove much of the intellectually lazy, generic sustainability-themed "kids and fields" advertising that is at best wallpaper, at worst dilutive of brand equity. Finally, brands and the people behind them are forced to get serious again about the real purpose of marketing - what makes a company and a brand unique, what customer-centric value it delivers, and how to communicate all this in a way that differentiates the brand from its competitors.

📢 Older meat eaters see 'sustainable' as 'responsible' Meat brands with sustainable products often target younger consumers. Core meat eaters (older consumers) want sustainable #products that match their own priorities. What you need to know 👇 What we've seen 👁🗨 ⚫ 85% of 65+ year old consumers in the #US eat fresh #beef or #pork, making them core meat consumers. ⚫ Contrary to popular belief, older consumers seek #sustainable #meat products. However, their criteria for judging #sustainability is different from younger #consumers'. ⚫ Older consumers are more likely to behave in an #environmentally friendly way than their younger counterparts. For example, 76% of #German #babyboomers #recycle compared to only 45% of #GenZ. Mintel recommends ✅ 🔵 Highlight #localproducts, which are an important signal of sustainability for older consumers. 🔵 Support the desire of older consumers for 'savvy sustainability', where saving the #planet is combined with wise #spending. 🔵 Keep the benefits tangible and personal rather than #marketing to a #demographic that can be put off by products specifically marketed to 'seniors'. 📈: Older consumers in the #UK prioritise environmental practices that are relevant to meat production

"Sustainability challenges for global brands". What a provocative statement for #FMCG. Sustainability is critical for the long term welfare of the planet, while we all see the pressure they are under with the consumer spending crisis. Looking forward to hearing how Reckitt, PepsiCo, Nestlé and Coca-Cola FEMSA are addressing this at the Environmental Packaging Summit tomorrow. What uplift do they track as a result of all their efforts? Are the investments led because its right for the planet or is it due to EU PPWR legislation? How were the investments signed off!? And what do their consumers think of it? please not a bland overall statement, but insight! So many questions! What else should I be considering?

Can a brand's commitment to Environmental, Social, and Corporate governance (ESG) genuinely reshape the consumer-brand relationship and amplify its influence? 🌿 Find out in our latest article: https://claret.la/3EfwGiL #WineIndustry #Sustainability #ESG #WineBusiness

Interesting report by McKinsey & Company  about the impact of ESG claims on CPG sales. Thank you for sharing Jordan Bar Am. Good caveat that this is correlational and not necessarily causation. Couple of interesting notes/curiosities- 1. "Newer versus established products? Newer ones making claims outperformed their newer, nonclaiming counterparts in only 32 percent of categories. One hypothesis is that shoppers may expect newer products to make ESG-friendly claims but are pleasantly surprised when older products make them."  I am curious if the new products claiming ESG assets have a cost disadvantage that cascades into lower budget for marketing and shelf positioning. While for established brands this is but a blip? 2. Pet Food ranks rather low on conversion of claims. This comes as a surprise (at least to me) as pet owners have displayed greater discernment on the quality of food they feed their pets than even themselves.  Is there any detail on what kind of claims were made that were ineffective. Were there largely "generic" as the subsequent point makes a case for? Extrapolating, any additional research on similar contrarian (to behavior research) choices in other categories? On the subject, I am looking forward to Ipsos Strategy3 full trends report on consumer demand and response within the E & S verticals. The highlights shared by Philip Ryan  had some interesting parallels and contrasts to this report. #esgstrategy #consumerbehavior

I wanted to share this insightful piece from The Drum on the pivotal shift towards honest marketing. As we navigate an era where consumer trust is paramount, the call for transparency and authenticity in our environmental claims couldn't be louder. This article not only champions the end of greenwashing but also shows how brands like Patagonia are setting benchmarks in genuine sustainability efforts. It's a powerful reminder that the value we offer through our marketing should mirror the value embedded in our products or services. Let's embrace honest marketing as the future, ensuring we're not just selling, but truly serving our customers. #HonestMarketing #Sustainability #BrandTrust https://lnkd.in/eZ_sgKFA

“Good washing” is vastly prevalent in the #beautyindustry, and just like we’ve seen with nonsensical, vague eco messaging, it’s going to come back to haunt brands if they don’t go about it with authenticity. “When done well, and with credibility, [brand purpose] can be highly effective,” using Dove as an example. If you are not prepared to put what you say into real, meaningful action and truly build it into your brand’s strategy, and beyond that, your company’s mission, it would be less insulting to consumers to say nothing at all. Doing good will always be chic. But virtue signaling for the sake of maintaining an image that doesn’t have substance to back it up is the most unattractive thing you can do for your brand, in business and personally. #authenticity #transparency #brandidentity #purposedriven #beautyindustry #beautybrands #beautytrends #beautymarketing #skincare

How we've come full circle??? I always say - in marketing, all brands must invest in the long and short of it. Short term - digital paid media gives you this. Easy to measure and quantify with all the funneling that is performance marketing But also invest in the long term - brand building. Invest in driving meaningful differentiation over we'll thought and executed brand building campaigns. That benefit your brand well over 12 months. If wondering how to navigate this world and this balance I recommend the following: Mark Ritson and taking the Marketing Week Mini MBA with Mark Ritson classes (starting mine soon) Insights by Kantar Thank me later. ❤️ Brand Titan