Success in business means more than just the consideration of your bottom line. Today’s consumers respond to ethical reputations more than ever before. People want to know that the businesses they are supporting got to where they are by having a good moral compass and thorough giving back to the community. It’s such a powerful ideal in fact, that when Amazon CEO Jeff Bezos announced a $2 billion philanthropic effort, it was immediately met with criticism that it wasn’t enough when compared to his ~$184.6 billion net worth.
Studies show that making a positive difference in the world is valued by millenials over professional recognition. This generation is incredibly discerning on who they will give their business to, and will write off a company for the simple reason that it does not “give back”. In fact, in a study conducted by Cone Communications and Echo Research, more than 90% of consumers would switch to a brand that supports a good cause.
Going the Extra Mile
In order to find success in today’s competitive climate, you need to find new ways to stand out. Customers will not choose your business if there is a competitor out there that goes the extra mile for them, and you are not. For example, Digital Mountaineers made it our personal mission to help nonprofits and positive impact organizations, by offering a 50% discount on our services in 2020. We are pleased to announce that we are extending this incredible pricing through 2021!
When you take a cause-branding (cause marketing) approach, your company can collaborate with a non-profit organization, for your mutual benefit. Here are a few ideas that can help bring visibility to your newfound partnership:
-Advertise special days or weeks where a portion of your proceeds will be donated to a charity you care about.
-Sponsor charitable events in your community that spark passion in you.
-Support local philanthropic efforts made by businesses and create a network of like-minded owners who care about giving back.
Socially responsible business owners give back to their communities by making community investments. When you support local organizations that provide services to those in need, your business is investing in the future economy of your community.The person you help today, may be a regular customer of yours in the future.