Today’s uncertainty is an opportunity. While anxiety over 2024 election uncertainties can leave business leaders, marketers and communicators playing tug-of-war with scenario plans, the question of whether brands and businesses should engage in social issues will not be determined by election results.
Recent headlines have declared that social issues and supporting inclusion are a third rail for brands and businesses. While taking a stance may not be inherently political, it has been politicized. From stories of corporations bowing out of Pride celebrations to leaders walking back DEI commitments, there is a perception that businesses are choosing to remain silent rather than taking stances on social issues. The highest-level advisors to U.S. businesses are saying that brands and corporations have a role to play in addressing issues like the economy, civil rights, racial justice and reproductive rights.
Also read: How brands are trying to relieve election anxiety
LSG conducted a national survey of 509 professionals in marketing, advertising, communications and PR to get a pulse of the business and communications agenda on social issues ahead of a new administration.
- Nearly 90% of respondents believe it is important for brands to engage with and seek to have a positive impact on social issues.
- More than 95% say that companies and brands should play some role in helping to find solutions to society’s challenges and nearly 90% say they should continue their current efforts or be doing more.
- 90% believe it is important for brands and corporations to be inclusive of multicultural communities in advertising and communications and 78% say that inclusion is profitable.
- 83% say that brands and corporations should not only talk about their values but act on them.
- 81% believe that a brand’s social engagement needs to be rooted and guided by its brand values.
And faced with a highly polarized presidential election, 80% of advertising, marketing, communications, and PR professionals feel that brands will have a role to play in bringing people together post-election.
The bottom line is brands taking a stance on social issues is not going away. The question is not if brands and corporations should take a stand, it’s how.