Is it true that a company’s philanthropic or social stands are assets to the bottom line? It’s an interesting question, with plenty of opinion on either side.
CallFire’s blogger Natalia Klishina, a company that boasts auto dialer technology thinks that a perceived commitment to some level of social responsibility benefits business profitability. She mentions “Generation G,” a growing contingent of Americans described by trendwatching.com in which the G stands for Generosity, and refers to businesses that seem like they “genuinely want to be good and generous, towards customers, towards employees, and towards the world.”
Klishina points specifically to business being seen co-donating, to eco-generosity or random acts of kindness, using Coca-Cola’s pairing up with HMSHost for a mobile sweepstakes campaign and a giving program that will benefit Feeding America as an example of what a recent Duke University and Cone survey found: Nearly 8 in 10 consumers say they would switch to another brand if it was associated with a good cause.
Implied in that, of course, is the proviso that “the quality of the product or service remain high enough.” Nobody buys bad-tasting soft drinks just because the producer donates ten percent of all profits to Oxfam.
A PR Week and Barkley Public Relations survey “corroborated the findings,” Klishina says, finding that an eye-popping 88 percent of millennials say they would switch to brands supporting causes.
CallFire has a history of this sort of social commitment, providing discounts to non-profits and charities, working to provide text-to-give programs to their customers and devising their own social and environmental responsibility programs, “as well as a donation program where we’ll give 1 percent of our profits to employee-picked charities,” Klishina says.
David Sims is a contributing editor for TMCnet. To read more of David’s articles, please visit his columnist page. He also blogs for TMCnet here.
Edited by Jamie Epstein