3 powerful reasons for businesses to embrace a good cause

    By | AFLAC

    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 the company to make a sustainable difference. Here are three powerful benefits of embracing a good cause:

    1. 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 (90 percent) are likely to switch brands to one associated with a good cause, given comparable price and quality, and 63 percent bought a product associated with a cause over the last 12 months.1

    2. Cause builds a premium for your product or service. Embracing a good cause can make a difference in the margin consumers are willing to pay for your product or service. More than half of global consumers (55 percent) said they would be willing to reward companies that give back to society by actually paying more for their goods and services.2

    3. Cause boosts your recruitment strategy. 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.

    Access this article as a pdf.

    1 Cone Communications (2015). 2015 Cone Communications Social Impact Study. Accessed on Sept. 14, 2015, from http://www.conecomm.com/stuff/contentmgr/files/0/2482ff6f22fe4753488d3fe37e948e3d/files/global_pdf_2015.pdf

    2 Nielson (2014). Nielsen 2014 Doing Well by Doing Good Study. Accessed on July 22, 2015, from http://www.nielsen.com/us/en/insights/reports/2014/doing-well-by-doing-good.html

    3 Edelman Worldwide (2012). Goodpurpose 2012 executive summary. Accessed on July 22, 2015, from http://www.scribd.com/doc/90411623/Executive-Summary-2012-Edelman-goodpurpose%C2%AE-Study

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