Omega Blog

Customers buying from firms that share their values

Posted on 22 August, 2013

The growth of social media has given consumers a significant amount of power in their relationships with companies. Customers are able to organize and carry out protests and boycotts, or raise awareness of issues through online tools. This has made it extremely important that companies examine their values to ensure these are properly aligned with the principles of their audiences. 

"More and more consumers [are saying], 'If I'm supporting this company by buying a product or investing in it, I want to make sure it supports my personal values, and I don't want to buy from a company that doesn't,'" said Dara O'Rourke, co-founder of Good Guide, a website that rates and reviews companies based on their environmental, health and social policies, as reported by CNN.

Forbes stated that values play a significant role in the culture of a company. The initiatives that are enacted by organizations are often influenced by corporate principles. Consistency in this area can help firms create meaningful customer experience management strategies that appeal to target audiences. The principles that organizations promote influence customer opinion and determine a large portion of a brand's image.

Customers often choose to deal with organizations that align with their personal beliefs, and thanks to social media, corporate values are becoming easier to identify. Focusing on promoting values can help firms boost customer satisfaction and build a loyal following.

Values promoted throughout supply chains
Maintaining principles will also help firms within the B2B sector. Companies selling to the public need to ensure that every part of their organizations conform with their corporate values. Having suppliers, business partners or vendors that fail to align their practices with specific strategies could result in public backlash. This is one reason why global apparel companies are increasing the transparency of their supply chains, according to Business of Fashion.

By increasing the visibility of their operations, retailers are able to place public pressure on manufacturers and suppliers to eliminate environmental, health and social issues. Maintaining consistent principles will allow businesses to develop customer retention programs and deliver more meaningful and engaging interactions with potential leads.

Building Customers for LifeSM is a business philosophy from Omega Management Group Corp. that enhances the value and competitiveness of any organization. Understanding the importance of a proactive CEM strategy enables firms to build company cultures that place the customer first, which allows them to drive profitable growth and improve products and services.