9 in 10 people would buy product from a Purpose Driven Company!
What does (PDC) or Purpose Driven Company mean?
It is just a more direct word that encompasses CSR, cause marketing and sponsorship. Basically a company who has embraced Social Good.
Mind Blowing Figures
- 85% of consumers would support that company in their community
- 75% Would try a new product from that company
- 66% Say they would switch from a product they typically buy to a new product
- 57% Say they would pay more for a product
- 54% said they would invest in that company as well as
- 68% would want to work for that company
With staggering numbers like these there should be an overwhelming tsunami of company’s big and small tripping over themselves to sponsor any size NPO fundraising campaigns.
But they are not.
Studies like these show Cause Sponsorship is on a slow rise but NPO’s trying to get sponsors is still not an easy task.
I am not going to get into all the barriers of Corporate Sponsorship (because there are many) but what is making these numbers rise is pretty simple to see and the answer is, Millennial’s.
Millennial’s are starting to take over a majority of the U.S. demographics as well as taking over the U.S. work force and soon to be taking over the donor demographic.
Millennials are making a Social Statement!
- They Care about Social Issues
- Believe in activism (Big or Small)
- Support the greater good
- Influenced by their Peers
- Expect companies to give back in some form or another
- Want to work for social good Companies
- Will buy products from and promote social good companies
With this changing of the guard in demographics, corporate sponsorship needs to also be listening.
One would think that it is pretty simple to figure out but yet we see articles written every day about, “How to attract and engage Millennial’s” etc.., when the answers are right in front of us.
Millennial’s don’t care much about outdated rules and regulations when it comes to sponsorship or Social Good and even less about corporate profits when it comes to the ROI of sponsorship.
Millennial’s are everyday do-gooders and believe their small effort can create leverage as a large group by using their Peers to help make a change in the world.
They were brought up in a digital world and their Peer power has morphed into something very big and they have figured out their leverage has many tentacles and can make an impact in all spectrum’s of Social Good.
There’s Power in numbers!
So if Millennial’s are now a majority of the U.S. population and 88% of consumers say they would buy a product from a social driven company, one would think increased CSR is a no brainer!