As we usher in a new era of global connectedness, consumers are becoming more and more conscious of supporting businesses that embrace social change and positive impact.
There’s no arguing that the last few years have changed the world. Global events like the Coronavirus pandemic, social justice movements across the United States and widespread environmental disasters like the Australian bushfires brought people together more than ever.
This togetherness not only reflected many people’s desire to become changemakers at their social, political or environmental level, but also at their consumer level. Terms like ‘sustainable business’ and ‘businesses that give back’ not only increased in Google search trends, but consumers started to shift their spending over to more ethical choices. These trends show concretely that to stay relevant with the public and competitive in the market, giving back as a business is a no brainer.
Whether you’re just starting to conceptualize your new idea, you’re already have an established business, or anything in between, here’s four reasons why your business needs to have a positive impact moving into the future.
Positive Impact is the Future
Never has the world been more aware of our interconnectedness. COVID-19 taught us very quickly that what happens in one country can drastically impact another country before we’ve even had the chance to stop it. Global viruses, environmental concerns and social issues mean that we can no longer ignore the fact that we are all global citizens that must work together to eradicate these problems.
Consumers are dialed into the fact that we need to work for change. Slogans like ‘we’re in this together’ echoed across the world, as we all banded together to fight this global pandemic. From opposing sports teams to opposing political ideologies, we (mostly) put aside our differences to fight the outbreak.
Looking to 2023 and beyond means continuing to reevaluate the things that are going to help us stay safe and secure. This means placing a greater emphasis on companies that are working towards supporting global security. Whether it’s standing up for minority communities, protecting the environment and animal populations or giving back to those in need.
With this shift comes the consumers choice of wanting to support companies that are giving back to the many issues that became evident over the last few years. Not that these issues weren’t prevalent in the past, but they weren’t on the main stage like they are now. And believe us, they aren’t going anywhere quickly. Building a positive impact initiative into your business shows your customers, and future customers, that you hear them and are working towards making the world a better place.
Generation Z is More Positive Impact Conscious
Move over Generation X and Millennials, there’s a new generation of consumers quickly entering the picture. Gone are the days when we could only equate the year 2000 with the Y2K crash, Tom Hanks starring in Cast Away and Coldplay’s debut album Parachutes.
Now people who were born in the year 2000 are not only consuming alcohol at your local dive bar, but they’re also consuming social media and social trends faster than you can say ‘hold my beer’. The first round of Generation Zers were born in 1997, which means these TikTok touting teens are actually closer to their mid-20s, which puts companies in a prime position to sell to their newly emerging income.
And with this newly found income also comes the newly found decision of what products, and more specifically which brands, to spend their money on. In a recent study it was reported that 68% of Gen Zers expect brands to contribute to society. As the number of Gen Z consumers continues to grow into the future, this number will surely only continue to rise along with them.
Not only do Gen Zers want to spend their money on brands that are contributing to social good, but they want to see brands that are tapped into the notion of global citizenry and the idea that we’re all in this together. The same study also reported that 61% of Gen Zers consider themselves as ‘global citizens’, meaning now more than ever they feel connected to the people, places and causes that are important to them and their communities.
Networking with Other Like Minded Businesses and Their Consumers
Identifying and working towards social impact means that you are now tapped into the wider network of other companies and consumers who are passionate about this particular social cause. This means two important things for your business and networking.
From a business networking perspective, being part of a social cause with other businesses means that you have common ground to connect with them and help each other achieve your business goals. You share a bond that opens up doors, starts conversations and could lead towards a profitable partnership and collaboration between the two of you. From highlighting each other on a newsletter blast and content swaps, to social media shout outs and giveaway collaborations, the possibilities for partnering are endless.
For example, at Passionfruit Creative we’re proud to be a member of One Percent for the Planet, a US based 501(c)(3) nonprofit organization that is committed to supporting environmental issues around the world. As a member we now have access to exclusive networking opportunities and collaborations. When we reach out to partner with other 1%FTP companies we can use our membership as a talking point to showcase our shared commitment to protecting the environment.
Connecting with like minded businesses can also help you leverage their audience to create new customers for your business. Interact with other businesses social media accounts and see what sort of customers are engaging with their content. Use that as a way to audit your own social media approach and to help develop a more targeted strategy. (Or let us do it!)
It’s a Handy Tax Right Off
Ok, while this shouldn’t be the main incentive for you wanting to help the world (hence the reason we’ve left it until last), if it’s going to help push you over the edge then let’s explore!
We’re no tax experts (please ignore our offshore bank accounts), but we do know that a lot of countries around the world offer some form of charitable tax deduction for contributing to a registered charity or nonprofit organization. This means that giving back won’t cost your business as much as you think.
For example, in the United States any organization registered as a 501(c)(3) can receive tax deductible donations. This means that you can both positively impact a social cause that aligns with your company goals, and you can add this to your company profile. Put it in your social media bios and create a landing page for your website that details the good work you do.
Start Small, Grow Big
If you’re thinking about developing a positive impact initiative for your business, but don’t know where to start, it can be a daunting task to consider. With the overwhelming amount of issues to solve you could be asking yourself, how can I fix all of these? Where do I start? We’re just one company!
We’re here to reassure you that nobody is expecting you to save the world, let alone overnight. The best part about giving back is that any contribution is a positive contribution. Start small with a project that is important to you and your company and then build on that.
Unsure of where to start? Book a free consultation call to discuss your goals for a give back program that fits into your marketing strategy.