Millennials and Corporate Social Responsibility.
A recent study from the Neilson Global Corporate Sustainability Report shows that 73% of millennials are willing to pay more for sustainable brands and offerings. 1
Another study by Cone Communications found that 90% of millennials would switch to a brand with a cause. A study by Submittable found that 72% of consumers today expect brands to be positive contributors to society and 64% expect businesses to use their power and resources to help people. 2
The Power of The Corporation. Be a Positive Force.
This common interest in conscious consumerism and honest, fair business operations that has skyrocketed in the last few years makes a lot of sense when you look at our history, the rise of capitalism, the monopolization of power-house corporations, and the domination of said corporations in the global market.
We have reached a time in history where policy seems to be growing weaker and less efficient in making change, where the law gets stuck in the midst of political differences, and where corporations have taken a strong hold on economic and social life.
Consumers are aware of just how much power businesses have, and they are looking to these businesses to be the change that is so desperately needed, because, not to be grim, we are running out of options here.
We know that it is not a single human using plastic straws that is contributing the most to the massive plastic piles flowing into the ocean, but corporations. We know that the fashion industry is the second largest contributor to C02 emissions because of the use of plastics made from oil. We know that certain “certified organic”, and “sustainably sourced” labels have been used by companies as just another way to make sales. We know about sweatshops, outsourcing, the destruction of nature, and the careless use of non-renewable resources that have come from years of careless, and destructive business tactics. Let’s change the way we operate.
What Does That Mean for Businesses?
This means that people born between 1981-1996 are more likely to buy from a company that has a social mission or a business that takes corporate responsibility seriously. There are about 72 million millennials in the United States alone. Millennials make up about $1 trillion in the United States consumer spending and are the fastest-growing customer base, followed by Gen Z. 1 Ours is a generation who has lived through the up-rise of the B-Corp, the growth of the Fair Trade movement, and the general rising demand for transparency within corporations.
As a business owner, you should know that transparency and social impact are key players in your overall success. Your story matters. Your values and goals matter. People expect a lot from you. You have the power to MAKE A LASTING CHANGE in our economic and social lives. Show the world how your product, service, event, course, or idea can bring about positive change, empowerment, inclusivity, love, and light.
How to Stand Out to your Largest Consumer Base.
Engagement- Actively engage with your community and make real genuine connections. Change the way you interact with the environment, with your workforce, and with your customers by engaging with them. 2
Make use of social media and BLOGS. Most consumers read about 3-4 pieces of content put out by a company before making a purchase, signing up for an email list, volunteering, etc. Consumers want to know about your process, and about the people on your team. Share your honest story with them. Be transparent. Use these outlets to talk about your corporate social responsibility. What is it like to work at your organization? What is the culture? What are your goals and values? What good do you hope to contribute to the world?
Talk about experiences, not physical products. What meaningful, genuine experiences does your product, service, or organization provide for people? 2
Transparency- consumers want to know who the people are behind the veil, they want to know what type of people work for you, and they want to see diversity and collaboration. They want to know what goes into the production of your business.
Hire someone that knows how to make all of these things possible for you and tell your story. A copywriter is pivotal in this process of helping you become more engaged, more transparent, and experience-driven. They can write blogs, utilize social media, make your product speak to the people using it, and allow them to understand what it can do for them and for the world.
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