8 Reasons Why Are Companies Going Woke
Woke branding has become a popular marketing buzzword in the past few years, but what does it really mean? The word itself, which first started appearing in the mid-2000s, is an extension of “woke” as slang for being aware. It refers to companies who are aware of their role and responsibility towards society at large.
These days, getting woke is more than just knowing that social awareness is important it’s about aligning your brand with what matters most to consumers. Here are reasons why companies should get woke:
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It’s Good for Business
Businesses are realizing that diversity and inclusion is a key component of creating a strong, successful and profitable company. A diverse workforce has been proven to be more innovative and productive, which leads to increased revenue and better long-term results for the company. Companies that embrace diversity in their hiring practices also have a better chance of retaining their employees because they’re able to attract talented people with different backgrounds, experiences and perspectives.
This can help them avoid turnover costs like recruitment fees, lost productivity while finding replacements and training new employees, as well as lower employee morale if they replace valued employees with less qualified candidates just because they’re white men.
They Can Connect with Customers Better
Woke companies are more responsive to customer needs. As a business, you want to be responsive and helpful to your customers. A wokeness strategy is the best way to do that because it allows you to connect with people on an emotional level. The benefits of such a connection include:
Customer loyalty customers who feel listened to and understood are likely to buy from you again and recommend your products or services to others. Increased sales wokeness can help generate more sales by creating meaningful relationships with customers through genuine communication and interactions on social media platforms, in-person events or even through direct mail campaigns featuring stories that speak directly about how they’ve been helped by using your product or service.
They Can Champion Causes That Are Important to Their Customers
The internet and social media have made it easy for companies to use their platforms to promote causes that are important to their customers. And if you’re a company and your customers don’t care about the same cause? Well, maybe you should rethink what kind of people work at your company.
Of course, companies do have other reasons for going woke: they can build goodwill with potential customers by championing causes that are important to them; they can show how much they care about society and humanity; they can attract more talented employees who want to work for a socially conscious company; and so on.
Consumers Like Them Even More
In light of the recent uptick in socially responsible companies, consumers are likely to feel more positively toward these brands. In fact, research suggests that consumers are more likely to buy from and recommend companies they like and that this “liking” can be attributed to companies’ social responsibility. As a result, it’s not too farfetched to think that many of today’s woke companies enjoy better relationships with customers than their non-woke counterparts.
Growing Consumer Demand for Products and Services from Socially Responsible Firms.
Consumers are more aware of the impact their purchases have on the planet and on people’s lives around the world, so they’re looking for companies that will make positive social impacts through their products and services.
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Woke Companies Do Better Financially
Being woke also means being customer-focused; this helps promote brand loyalty which translates into healthy profits over time since customers are likely going back again after having such great experiences with your brand in the first place. A happy customer base leads directly into stronger sales numbers which makes everyone happy: You get paid more money because people love buying stuff from you while simultaneously saving money by spending less on marketing costs associated with attracting new customers every year and there’s no better feeling than knowing someone out there loves what they bought enough that they want another one or two.
A Chance to Promote Your Brand
When you stand for something bigger than yourself as a company, it gives people an opportunity to learn more about who you are and what makes your brand unique which can help build trust between your company and potential customers or clients.
To Boost Employee Morale and Engagement
Employees who feel strongly about their company’s mission tend to be more motivated at work they’ll feel more invested in what they’re doing and more connected with their colleagues as well as customers. That kind of passion can be contagious among workers who see how much their colleagues care about what they do every day at work.
What Does It Mean for Companies to Get Woke?
Woke is a term used particularly in the African-American community to indicate awareness of social justice issues. The origin of the word is debated, but it’s often attributed to comedian Dave Chappelle’s use of “woke” in his 2003 comedy special.
Being woke means you’re aware and fighting against racism, sexism and other forms of discrimination. It’s also associated with progressive ideas across all walks of life from LGBTQ+ rights to environmentalism and being able to identify systemic biases in everything from politics to professional sports think #MeToo.
When companies go “woke,” they are embracing a set of principles that support diversity and inclusion by hiring more people who represent diverse backgrounds; promoting women into leadership roles; providing benefits for same-sex partners; supporting causes such as Black Lives Matter or LGBTQ equality; and making socially conscious decisions that benefit society as a whole
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Conclusion
In summary, it’s worth noting that woke companies aren’t simply those that make their employees happy or provide them with good working conditions. They also have a responsibility to their customers and the community that is, they need to be present and active when it comes to social issues like climate change, LGBTQ rights, gender equality, and so on.
These are just some of the reasons why more companies are waking up every day: it helps them connect with consumers better; they can champion causes important to their audience; consumers like them even more because of this commitment; as well as financially.
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