Today on my (other) blog Marketing Mojo, I wrote a lengthy post on the necessity of creating real value – vs. sometimes status-driven perceived value – in a down market. 

When most people hear “value” they think price, packaging, size, promotion… the standard inward-looking levers a company has at its disposal.  But if a company’s key constituents care about philanthropy, then a company’s outward-looking position can create value, as well. 

At this point in time, I think the attention being paid to companies’ philanthropic efforts is driven by both “positive” and “negative” factors: (a) positive, because younger generations are more sensitive to the societal impact of the products and services they consume, and (b) negative, in that people are generally so disgusted with the bad behavior and greed exhibited by many companies that there is a heightened demand to “give back.”  Whatever the reason… philanthropy is a very real way to engage with stakeholders.

And if we need numbers, it turns out that customers with a favorable impression of a company’s philanthropic efforts are 3x as likely to become loyal customers, and 91% of consumers say they would consider switching (away) if they found out that a company had exhibited ”negative corporate citizenship” behaviors.

Think Ben & Jerry’s or Target or Pfizer or Nike – the very fabric of these companies is inextricably connected to their social efforts.  Think about your employer, your own company or the companies from which you purchase products and services… are these organizations doing enough to suit you and, if so, do the right people know about it?

philanthropy corporate_philanthropy ben_&_jerry’s nike Target_shopping