3 powerful reasons for businesses to embrace a good cause
Make the business case for corporate social responsibility.
Who doesn’t love a cheerful giver? Yet, with a tight budget it can be hard to be chipper about generosity. Odds are you know of a company involved in a good cause. Perhaps, your business has even made a step or two in that direction. But, did you know that giving is more than an altruistic act of kindness? Embracing a good cause can have a powerful impact on society, and a positive impact on a company’s bottom-line, allowing your company to make a sustainable difference. Here is an inside look at three powerful benefits of embracing a good cause, and key tips for building a successful program.
Business benefits of giving
- Cause wins consumers’ hearts
Having a socially responsible cause can actually make the difference between making a sale and being passed over for the competition. Hands down, the majority of global consumers 91 percent) are likely to switch brands to one associated with a good cause, given comparable price and quality, and 54 percent bought a product associated with a cause over the last 12 months, increasing 170 percent since 1993.1
- Cause builds a premium for your product or service
Making a difference can make a difference in the margin consumers are willing to pay for your product or service. Surprisingly enough, half of global consumers (50 percent) said they would be willing to reward companies that give back to society by actually paying more for their goods and services (44 percent in the U.S. and 38 percent in Canada).2
- Cause boosts your recruitment strategy
According to Edelman’s 2012 Good Purpose survey, 57 percent of consumers say they’d like to work for a company that actively supports a good cause. And a full 48 percent say they do not want to work for a company that does not actively support a good cause.3
Make a good move
Companies with successful social responsibility programs have at least three key concepts down. Start your program by keeping these words in mind: align, involve and sustain.
Align with a cause that makes sense for your company.
This may mean working with a charity that is related to your product or service, or looking to your local community to fill a geographical need.
Involve employees, the community and consumers.
The most successful cause programs make a point to do more than simply write a check. Help your customers and your workforce take part in the cause by offering employees the opportunity to volunteer with, promote or donate to the cause.
Sustain your involvement to make a real difference.
Start small with something your company can commit to. You can always add on in the years ahead. You might not see drastic results right away, but in time you and everyone else will see the impact your program has for the common good.
Making a big difference
Aflac has passionately supported the fight against childhood cancer for nearly 20 years by donating to help support the Aflac Cancer and Blood Disorders Center of Children's Healthcare of Atlanta in Atlanta, Georgia.
Aflac sales agents contribute from their commission checks to the Center and employees organize fundraisers, and visits to the Aflac Cancer Center each month.
The company also engages through social media campaigns: In 2013, for each Facebook share or Twitter retweet that is linked with a $2 match call to action, Aflac contributes $2 per engagement to the Aflac Cancer Center, up to a $2M maximum.
Since 1995, the company has raised and donated more than $84 million to the Aflac Cancer and Blood Disorders Center of Children’s Healthcare of Atlanta.
Learn more at aflacduckprints.com
1 Cone Communications (2013). 2013 Cone Communications Social Impact Study. Accessed on November 12, 2013, from http://www.conecomm.com/stuff/contentmgr/files/0/e3d2eec1e15e858867a5c2b1a22c4cfb/files/2013_cone_comm_social_impact_study.pdf
2 Nielson (2013). Nielsen 2013 Consumers Who Care Study. Accessed on November 12, 2013, from http://www.nielsen.com/us/en/reports/2013/consumers-who-care.html
3 Edelman Worldwide (2012). Goodpurpose 2012 executive summary. Accessed on November 12, 2013, from http://www.scribd.com/doc/90411623/Executive-Summary-2012-Edelman-goodpurpose%C2%AE-Study