Reprinted from PRWeek
Written by Natasha Bach
Vrity aims to assess brands’ “values equity” with the release of its new tool.
The company, which uses AI to measure the effectiveness of values-based messaging, has launched a new tool called the Values Return Index (VRI) that measures how a brand’s values impact the likelihood of consumer purchases.
The tool relies on AI to conduct an analysis of a range of data sources, including consumer surveys, social media and website data. It then uses 20 values-based categories such as sustainability, equality, innovation and affordability to deliver a values equity assessment, or “the financial impact of a brand’s values on purchase propensity.”
“Today’s consumer no longer makes purchase decisions based on price and product alone, they also want to support brands that share their personal values,” said CEO and cofounder Jesse Wolfersberger. “We can prove that the ROI of connecting with consumers on a values level is tremendous.”
To assess the effectiveness of the VRI, Vrity analyzed the financial impact of three socially conscious ads run during the most recent Super Bowl. In its assessment of Anheuser-Busch’s ad, for example, the VRI found that purchase consideration increased by 156%.
These findings corroborate other recent research by Vrity and Toluna, which found that consumers are willing to pay more for products from brands that support a cause they support, or conversely, will not buy from particular brands because of a lack of engagement on specific social issues.