Dear friends and followers, you might find this blog post at Fast Company about why social medi makes brands do good interesting. It’s full of valuable insights and statistics.
From the blog post:
- Millennial generation consumers have an even greater preference to do business with responsible companies than the average consumer. In 2010, 85 % said they would switch brands if it were involved in a good cause if the price was the same, versus 80 % of all adults; 53 % of Millennials have purchased a cause-related product in the last year versus 41 % of all adults; and 81 % of them would buy a product where a portion of the cost supports a cause, versus 85 % for all adults.
- “Moms” show the highest preference for corporate responsibility, even beyond Millennials. In 2010, 93 % said they would switch brands if it were involved in a good cause if the price was the same, versus 80 % of all adults; 61 % have purchased a cause-related product in the last year versus 41 % of all adults; and 92 % would buy a product where a portion of the cost supports a cause, versus 81 % for all adults.
Doing good not only makes a company’s employees happier. It not only creates a healthier business environment. It not only represents great PR for the brand. Perhaps most importantly it also allows brands to leverage social media to generate positive word of mouth advertising that directly impacts their profits. As social media platforms like Facebook and twitter keep growing and as the web itself becomes increasing social, this is only going to become more important to brands and consumers. This presents an exciting and arguably unprecedented opportunity for business leaders. They can now better serve the interests of their shareholders by building a better world.
Source: http://www.fastcompany.com
