A majority of consumers are highly influenced by a brand’s purpose and impacts consumers’ buying decisions and feelings about products, according to a study released by Channel Factory, the global brand suitability and ad performance platform for YouTube. The company released its Brand and Consumer Values Report, exploring consumer sentiment around brand suitability, advertising, and YouTube content. The report surveyed 1,000 adults between the ages of 18 and 65 in the US.
The report confirms that consumers place value in brands that are dedicated to social good, with 69% stating they prefer to buy from brands committed to socially conscious causes. Additionally, 68% of consumers prefer to buy from brands that are committed to making online environments more positive and 60% prefer to buy from those committed to making these environments diverse and inclusive.
“This research cements trends we’ve all seen bubbling up in society, and the results are a must-read for marketers and media industry pros. For years, we have tip-toed around the need for advertising to be held more accountable - to be ethical, conscious, and conscientious,” said Tony Chen, founder and CEO of Channel Factory. “Undoubtedly, 2020 has accelerated this and consumers have made it clear that they want to be surrounded by content that speaks to them, is relevant and engaging. Nowhere is this more true than on YouTube. As consumers look to engage with platforms like YouTube, it’s never been more clear that brands must appeal to them with compelling content.”
The report also outlines consumer sentiment toward advertising with 54% of consumers stating they would have a negative opinion of brands that run their ads on content made by creators whose social values they disagree with. Consumers are also looking for inclusivity, with 60% stating they feel more positive about a brand knowing they advertised in diverse environments. Additionally, consumers are looking for relevant content, with 73% stating they are more likely to buy from brands whose ads are relevant to the content they’re consuming on YouTube.
“What we hear from consumers is that they care what kind of content their favourite brands are funding, what they are supporting and how their investments reflect their values,” said Stevan Randjelovic, director of brand safety and digital risk with GroupM. “This is why it is important for the industry to continue to pursue strategies that factor in diversity, equity & inclusion, environmental and social sustainability and other areas of responsible investment. We have to work together as an industry to ensure we are funding the responsible creators and that we don't over block certain words that could defund key news organisations.”
Other key findings from the report include:
- 58% of consumers would stop watching a YouTube channel if they discovered the creator supported causes they don’t agree with.
- 64% of consumers go to YouTube to improve their mood.
- 82% of consumers say that YouTube has content that suits whatever mood they’re in.
- 82% of consumers say that YouTube helps them learn about other lifestyles, cultures, and points of view.
To learn more about Channel Factory and to view the full report visit here.