In our final installment of #NewYearNewApproach, we argue that brands benefit from doing some good.
A recent Sprout Social study found that consumers want to connect to with brands who express themselves politically; essentially, they want to work with brands who are woke. And though being political isn’t what we’d recommend for every brand, the approach is certainly much more common than it was just a few years ago.
Similarly, consumers want to connect with brands who stand for something, who help their communities, and who help (or at least don’t harm) the planet. Brands whose missions are based around being environmentally-friendly—think Patagonia and Reformation—are killin’ it because they’re public about their missions. For many consumers, buying an expensive dress or technical jacket is a little easier knowing it’s doing some good.
Of course, you don’t need to completely change the mission of your business to focus on social good. You can incorporate giving back in smaller ways: donating a percentage of sales on a given day to a cause of your choice, planning company-wide volunteer opportunities, or creating a product in tandem with a nonprofit— these involve various levels of planning.
There are a few reasons that incorporating a social good element to your brand can be beneficial.
First, just like with the political study above, people like to spend their money in a way that helps people or the planet.
But giving back can also help build a sense of camaraderie among your team. Giving back to others will make your team feel good and make them feel more connected to one another and to your brand.
Finally, becoming involved in the community will help your brand garner recognition from people in the area, ultimately helping you win new business or appeal to brand new customers who hear about your brand through your nonprofit work or donations.
Giving back doesn’t have to be purely altruistic—it can help your brand’s bottom line. And there’s no better time than 2018 to start.
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