The importance of brands connecting with social good
Millennials care about social good. They are more apt to pick up a product that has a social component than one that does not. Generation Z will drive this home with their spending dollars.
The next generation of large brands will have to have a social give to build loyalty not only among their consumers but inside their company. Social is in and it is about time. Our culture is built on being philanthropic. It starts in kindergarten with bake sales and lemonade stands to raise money for others from a tsunami to a cause. In general, Americans feel comfortable giving back to others. I believe that people (like myself) who have had financial success have a responsibility to give back to the community in ways that resonate with them from supporting the arts to supporting cancer research.
I have never understood the push back to not pay taxes as it maintains our roads, who monitors our airways for flight travel, who delivers our mail, who educates our children…all of this is paid for with tax dollars. The parks, the museums and the organizations that help underserved communities are paid for by the good of the public that makes donations to their bottom line. Granted many of the non-profit organizations do not run as efficiently as profit organizations but they are important.
The concept of joining a board, paying them to be on it and then doing a lot of work for them is one that seems odd but that is what has been going on for decades. Things need to change. Having brands be the next generation of support for an organization that they get behind through their consumer’s dollars is what companies should be thinking about to capture future customers.