https://www.theguardian.com/media/2024/sep/15/go-woke-go-broke-not-true-for-brands-says-global-advertising-studyThe cringe factor can be high when an established brand suddenly aligns itself with up-to-date values. It did not appear to work well for Gillette, which suffered a public backlash five years ago to its “toxic masculinity” advert, or for Marks and Spencer when it brought out an LGBT rainbow- coloured sandwich to mark Pride.
But new academic research carried out for the advertising industry suggests that “Go woke, go broke”, the snappy catchphrase devised by rightwing groups as a warning to brands, has got it all wrong.
It seems even clunky attempts to tune into newer, more tolerant values can give a product an advantage.
On Monday the findings of a global study from the Unstereotype Alliance, a business initiative convened by UN Women, will offer new evidence that advertising campaigns that are more inclusive have a positive impact on profits, sales and brand worth.
The analysis was conducted by researchers from the Saïd Business School at Oxford University using data collected by a group of large businesses, including Diageo, Kantar and Unilever, in collaboration with the Geena Davis Institute, set up by the US actor and activist to study gender in the media.
It found that when an advert can authentically and positively portray a full range of people – devoid of stereotypes – it can provide an edge in the marketplace when it comes to consumer preferences and long-term sales figures.
Based on analysis of 392 brands across 58 countries, the research, which claims to be the first of its kind, indicates the positive impact of inclusive advertising on outcomes, with an almost 3.5% boost to shorter-term sales and a more than 16% increase in the longer term.
It seems to persuade 62% of buyers to choose a product and make 15% of shoppers more loyal.
