Worcester Business Journal

wbjournal.com | February 8, 2021 | Worcester Business Journal 7 W O M E N I N L E A D E R S H I P F O C U S A checking account designed with your business needs in mind. Open your Entrepreneur Checking Account today. Visit baystatesavingsbank.com/entrepreneur-checking to Oearn Pore. Adults 19% 31% 28% 13% Students 16% 32% 22% 12% Retirees 20% 34% 28% 12% Those who believe economy is most important issue 13% 34% 30% 16% Those who believe women's issues are most important 30% 32% 25% 6% Those who voted for Donald Trump in 2016 22% 32% 26% 15% Those who voted for Hillary Clinton in 2016 25% 39% 25% 7% Customers' social stances Consumers, especially in some segments of the population, including those who prioritize women's issues, can find a company's stance on a social or political issue to be important. Note: Remaining percentage of responses were "don't know/no opinion." Source: Morning Consult Very Somewhat Not too Not important Demographic important important important at all When it comes to buying a product or service, how important is a company's position on a social or political issue? not the highest-profile, company to make its social views clear. Nike famously launched a branding campaign with former professional football player Colin Kaepernick aer he ignited controversy by kneeling during the national anthem in protest of racial inequality. Dick's Sporting Goods and Walmart stopped selling some guns and ammunition, starting a backlash against the companies for seeming to wade into a hot-button political topic. More high-profile CEOs spoke out last year amid racial tension, and even more in January when a mob stormed the U.S. Capitol in an attempt to stop President Joe Biden's election certification by Congress. Exactly half of adults in a 2018 Morning Consult survey said they found it at least somewhat important what stance a company has on a political or social issue. Nearly as many said they'd want a share of revenue from their purchases to go to causes they believe in. Marketing today increasingly revolves around building relationships with customers, said Sandra Rahman, a marketing professor at Framingham State University. It's a movement in marketing long in place, and one that was made far easier with social media. ere are risks for speaking out, but also for not, Rahman said. A company like Nic + Zoe might be expected to be outspoken on women's issues, or the outdoor clothing company Patagonia on the environment, she said. "It depends on who's getting your message and what you're saying," she said. "ey want the product and the ethos," Rahman said of customers demanding companies have a stand on societal issues. "For a brand to be successful, they need to stand for something, not just have a nice product at a nice price." For Nic + Zoe, Inauguration Day has passed, but the company will have another chance soon to celebrate: Presidents Day, which it'll mark as Madam Presidents Day. It plans to celebrate female CEOs everywhere. W

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