Fairtrade, fair price
I recently took on a new retail project involving a new start-up company. The organisation only sells products sourced from Fairtrade networks. The company’s philosophy is simple: ‘Fairtrade, fair price.’
Following a couple of public events to help test out and determine product demand, the feedback received has been a little surprising. The overwhelming piece of data is that my client’s customers all believe the products are “fantastic” and that the prices are “extremely reasonable.”
The second piece of data obtained is that customers stated openly that they would be prepared to pay more for the items clearly marked ‘Fairtrade’.
To be honest, this isn’t very surprising to me, after all, anyone who understands branding will know that consumer-buying behaviour is often dictated by social conscience, which explains and indeed proves the power of having a positive CSR programme, and how it can be an extremely powerful marketing tool.
Today’s consumers are marketing smart, which means the old process of ‘advertising and they will come’ no longer exists. Now, companies need to show, believe and been seen to be promoting a social conscience in order to build brand loyalty across their audiences. Brands who don’t adopt this philosophy and process will simply die.
The other piece of insightful data obtained was how consumers are getting harder to read on a one-to-one basis. Some consumers like to be engaged by brands while making buying decisions, while others prefer to be left alone.
I’ve often said that we are all consumers, which is why, no matter what your brand represents, you have to treat your brand’s marketing and communications processes like a consumer-facing brand. To do this effectively you must think like your consumers and not assume they never change and are all the same.
To find out more about implementing a CRS programme, or to obtain extra help for your branding process …talktojason