Ten years ago I sat at a Starbucks sipping a coffee with my niece. I admired her espadrilles.
“Those shoes are very cute.”
“They’re Toms,” she said.
And she told me about the company. For every pair of shoes purchased, they would provide a pair of shoes for a child in need. A decade later, Toms provides shoes, sight, water, safe births and support for those who have been bullied. All by purchase of their products.
Well that’s a great idea.
Because many of us WANT to do good and all of us NEED shoes, or glasses or backpacks. As consumers, if we can combine goods we need with the need to do good, we feel even better about our purchases and would be very inclined to purchase again.
90% of Americans say they're more likely to trust and stay loyal to companies that actively try to make a difference and 76% would volunteer for a cause supported by a trusted company. Even more compelling, 84% of consumers are likely to spread the word on social media about the good a company is doing.
Does my Ben & Jerry’s ice cream taste better because it is made with happy, free-range, non-gmo cows backed by a company with an overall mission dedicated to a sustainable corporate concept of linked prosperity? Perhaps.
The partnership between non-profit and for profit entities is increasingly important as the call for corporate responsibility becomes a priority for consumers. For these companies and non-profits, how do you find your best partner?
Epsilon offers Marketview data; a multi-sourced transactional data solution that is comprised of data from more than 800 merchants across more than 60 categories. Marketview can help non-profits determine their best corporate match.
For example, you know your donor gives to cancer causes and food banks, but what car do they drive? What airline do they prefer or hotel do they stay at? Marketview can help non-profits determine their very best partner based on what their constituents are purchasing, where, how much and how often. So, for example, when I shop, you can let me know that 10% of my purchase went to help victims of Hurricane Harvey or to help cure cancer.
This current complex market creates a lot of noise in both the for profit and non-profit community. An insightful, well-thought partnership can help donors feel connected to where they purchase and the charities they are engaged with. As we can see from the numbers above, consumers want this connection and they are more inclined to return.