Today there is increased transparency in most business, mostly from necessity because of economic instability and many environmental concerns. This transparency and availability of information has changed the consumer into a socially conscious, social media wielding buyer. The current average consumer is more aware of issues of planet, purpose, and people when they shop.
Thankfully, the emergence of the socially conscious consumer has prompted some businesses to improve there ways and use this improvement to their advantage through marketing. Intel tried to “do the right thing” and spend the past four years working to make sure the minerals in their supply chain from the Congo were conflict free. This type of marketing is known as cause marketing and it is part of the corporate social responsibility (CSR) that companies, like Intel, are now striving for. Intel’s corporate initiatives marketing manager, Lori McMahon say that this type of marketing aims to “bring knowledge to the people and give them ways to engage and respond to an issue…Consumers are too savvy, it will harm you for being self-serving if it does not truly come from deep passion and commitment.”
Making sure that your company has both profits and purpose is very important today. A Neilsen study found that half of global consumers said they would pay more for the goods and services of companies that give back to society. Companies have taken notice of this fact and a few have integrated social good into their business model and how they operate all of their dealings. These companies include the eyeglasses brand Warby Parker and the shoe brand Toms, who both have a buy one-get one policy that means every pair you buy, another goes to someone in need. Whole Foods Market, a multibillion-dollar public grocer company have always made their business decisions with purpose in mind. In an effort for transparency their marketing is collaborative and decentralized.
The global executive of marketing, Scott Simons notes that this goes beyond purpose marketing because it “pervades our entire culture. Our core mission is more than writing on the wall and actually connects to a deeper mission within the company.” Purpose may not drive every business, but these are a start. Plus, it helps that consumers are supporting and rallying behind the businesses that do good work.
Arthur Egendorf is a tremendous proponent of marrying good business with good practices, and is passionate about companies doing well by doing good.
