This post is part of a regular, ongoing series by Kristian Darigan Merenda that digs further into the goodpurpose study findings. To view the previous post, please click here. For a complete list of posts authored by Kristian, please click the above byline.
From our 2012 goodpurpose® Study, we have seen how businesses can motivate consumers to support causes, as well as how companies can behave on their end to promote causes that will in turn resonate with their audiences. Ninety-four percent of respondents strongly believe that business needs to be addressing social issues. The following are some of the activities organizations should explore, specifically in North America:
- 65% of respondents believe that companies should donate products or services;
- 59% believe companies should donate a portion of their profits;
- 54% think they should provide educational information about the cause;
- 51% want businesses to offer employee volunteer programs;
- 47% believe that partnering with an NGO would be beneficial.
Not only do consumers want to see programs including the aforementioned aspects, but the study also demonstrated that consumers want to see a company take action by creating jobs, treating employees well, offering quality products and services and delivering consistent financial returns. Not surprisingly given the economic recession, in North America (as well as in Asia and Europe), creating jobs was ranked the most important contribution, with 40% of respondents putting it at the top of the priority list.
Importantly, while American consumers want businesses to give back, they are not one-sided in their thinking. Eighty-two percent affirm that companies can earn a profit while supporting a cause. This suggests that consumers understand the need to join business and purpose together by selecting a purpose intrinsically relevant to the organization’s line of work. We’ve also seen this in the rise of Shared Value strategies. This new practical reality is certainly not isolated to the U.S. and is taking root all over the world. Where have you seen examples in your work and daily life? How can you encourage businesses in your community to pursue a shared value?
