Identify the ethical standards your audiences will respond to. Ethical standards are increasingly important to consumers. Some 71% of consumers prefer buying from companies aligned with their values. Increasingly consumers are becoming aware of their power and capacity to influence the behaviour of brands. Indeed, 71% of young consumers surveyed by Accenture believe that refusing to buy from brands […]

Identify the ethical standards your audiences will respond to. Ethical standards are increasingly important to consumers. Some 71% of consumers prefer buying from companies aligned with their values. Increasingly consumers are becoming aware of their power and capacity to influence the behaviour of brands. Indeed, 71% of young consumers surveyed by Accenture believe that refusing to buy from brands or criticising them on social media can make a difference in how companies act.In addition to a link between ethical standards and profitability, these findings suggest that the optimal ethical standards of a business will reflect those of the target audiences being addressed. The ethical standards of greatest importance may vary by audience (including by generation), on the basis, of the industry involved and from time to time. Research suggests that ethical standards are more important to millennials than older consumers and that topical issues like climate change and sustainability and top of mind in…