A few blogs ago, we mentioned the HBR study that showed that consumers align with brands that share their values. Does that translate to revenue? It’s starting to.
A March 2012 Nielson study determined that “46 percent of global consumers are willing to pay extra for products and services from companies that have implemented programs to give back to society.” Dubbed “socially conscious consumers” by Nielson, 63 percent of these individuals are under the age of 40.
The study also included a breakdown of the most important social issues according to these socially conscious consumers. Environmental sustainability, improvements in science and mathematical education, and the eradication of hunger ranked highest among the types of causes that socially conscious consumers think companies should support.
Smart marketers are listening. Philanthropic initiatives, once considered a predominately small-business promotional tactic, are now a key element to your marketing arsenal. The philanthropy trend is gaining momentum among companies of all sizes.
Just this week, Kroger, General Mills and Yoplait announced a text-to-donate campaign for breast cancer awareness month in October. Yoplait says they will donate up to $75,000 to Susan G. Komen for the Cure. Consumers can expect to find customized packaging, building banners, and local events sponsored by Kroger to encourage awareness for the cause.
Our own text-to-donate campaign launches this week through a branded food truck that will serve free samples in Manhattan through the month. Visitors have a chance to vote on their favorite of three sample cheeses on their mobile device. Every vote will count toward a donation of up to $10,000 to Food Bank for New York City.
The holiday season is upon us and the spirit of goodwill is in the air. What is your business doing to give back?