Havas Worldwide: Brands must embrace social media to guard reputation

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Consumers want companies that care and are using social media to vent their spleens, according to ”Who Cares Wins: The Rise of the Caring Corporation”, by Havas Worldwide. The study surveyed global business leaders to ascertain its findings

According to this study, despite of corporate crises like Toyota and BP, most business leaders are unprepared for changing consumer trends and still believe social media currently has a marginal or no impact on business.

This is despite the finding that 23% of adults who use social media are now willing to hit out at companies and brands online.

According to the report, 59% of business leaders believe that social media will have either a marginal or no impact on business reputation over next five years, 65% think at CSR as a priority is the same or higher following the economic recession,

81% of young leaders believe that multinational corporations have a duty to behave responsibly and 76% of young leaders think future business success is based on corporate transparency.