How to Build Trust with the Values-Motivated Consumer

Many consumers say they prefer to do business with brands whose values match their own. But how well do their actions match their words? Forrester Research decided to find out. Forrester surveyed thousands of consumers globally, including nearly 5,000 in the United States, to uncover their beliefs and behaviors. From there, Forrester identified and isolated a group of consumers among the U.S. buying population who not only lay claim to being values-driven but act upon these claims. Forrester calls this group the values-motivated consumer.  

Results of Forrester’s Research into Values-Motivated Consumers 

• Values-motivated consumers account for 18 percent of the U.S. buying population. 
• Values-motivated consumers care about social values. But social values are not their most important consideration. They are 8x to 10x more likely to rank quality and value as the most important brand attribute as they are environmental or community impact. 
• Values-motivated consumers skew toward Gen Z and Millennial consumers. According to Forrester, 26 percent of Gen Z and 25 percent of Millennials are likely to be values motivated, versus 16 percent of Gen Xers and 10 percent of Baby Boomers. 

Our Take on Forrester’s Research into Values-Motivated Consumers 

Brands need to pay attention to values-motivated consumers. Forrester analyst Dipanjin Chatterjee noted that although it might seem surprising that “only” 18 percent of the U.S. buying population is values-motivated, 18 percent is still a sizable number. He wrote, “18% is still a significant slice — plus, the higher spend and younger average age of this segment enables it to punch above its weight. In short, values-motivated consumers ought to command a marketer’s attention.” 

The numbers underline how values are changing with younger generations. Millennials and Gen Z together form the largest segment of the U.S. population. Older Millennials are entering their peak earning years, and older Gen Zers are out of college and entering the work force. Brands need to respond to their focus on values in order to be relevant to these generations.  

It’s important to keep in mind that values-oriented consumers don’t exist in a vacuum. They overlap with values-motivated job seekers, employees, and investors. The same people who buy your product because your values align with theirs are also visiting the Investor Relations and Careers sections of your website. So, that 18 percent figure probably hints at a much larger share of the population who are evaluating your brand from different vantage points. This is an important consideration at a time when we are seeing an extraordinary movement of labor and the rise of purpose-driven investors.  

Trust is the new currency of the digital age. Forrester suggests that brands focus on building trust to win over the values-based consumer. According to the report, values-based consumers “Trust brands but want them to work hard to earn that trust. Businesses are more trusted than traditional institutions like the government, and values- motivated consumers lead this charge. While 57% trust companies to do what’s best for their consumers, they have high expectations: 89% wish more companies were transparent about their business practices, and 59% feel that companies should reveal their political affiliation. To win over these consumers, brands have to be much more open and transparent than they may be used to.” 

Building trust is a far-reaching and complicated job, as we discuss in our report Building Trust through the 4Rs: Responsibility, Recruitment, Reputation, and Reach. As we discuss in the report, the forces of corporate social responsibility, reputation management, and employee values are converging and pervading every aspect of society. So, building trust means a new mandate of collaboration across the entire company. The converging forces of change are getting too complicated and intertwined for any single team or person to communicate a business’s change journey to its multiple stakeholders. Building trust with employees, shareholders, customers, and other stakeholder means managing many moving parts. Everyone — including corporate comms, marketing, HR, and finance— needs to align their strategies. 

To build trust across multiple audiences, we advocate for an approach known as Connected Content. Connected Content unites communications, digital experiences and performance marketing that enables a business to forge deeper relationships with their audiences, building trust and driving business performance. The idea behind Connected Content is that if you approach trust building with an integrated approach, you reach not only the values-motivated consumer Forrester writes about, but also job seekers, employees, and investors.  

To learn more about how to build trust with the values-motivated consumer, contact Investis Digital.