Corporate & Social Responsibility Insights

Millennial buying power: how big brands are aligning themselves with nonprofit organizations

Millennials are… typing that into a Google search brings up some stereotypical results: that we are lazy, stupid, entitled, or my personal favourite, the worst. But this could not be further from the truth, and in fact, millennials now make up the single largest group within the workplace and will soon become the largest consumer group as well.

It’s no secret that millennials are spending less than previous generations and they are mindful to whom they give their money to. They have inadvertently influenced retail corporations to re-think their marketing efforts and have encouraged the growing trend of socially responsible marketing – a practice in which a business is responsible for its actions and their impact on society.

Nonprofits are experiencing the benefits of socially responsible marketing and many of today’s biggest corporations are getting in on the act. We need to look no further than technology giant Google, whose grant program provides nonprofits with $10,000 of free advertising (some restrictions apply) to help them reach a greater audience and more potential supporters of their respective causes. Another example is Coca Cola partnering with Pact, an international development organization that aims to improve the quality of life of families living in poverty and through marginalization.

These marketing initiatives are allowing businesses to practice good corporate social responsibility and millennials are connecting with these efforts. This demographic values honesty, transparency, and they want to put their hard-earned dollars into organizations that support their ethical standards. As a socially-conscious millennial, I align my spending habits with brands that follow this approach. I support companies that prohibit testing their products on animals, think sustainably, and those who are environmentally conscious in their practices. There is no doubt that more young people are beginning to purchase products that come with a little extra: extra help for a child in a developing country, extra donations to wildlife sanctuaries or an extra impact on the environment. This development in audience has forced big brands to adapt their marketing efforts to keep up with this generation of influencers.

You may be asking yourself ‘what can I do with this information?’ Well, firstly, if you are a part of a corporation that has not implemented socially responsible marketing, you may want to consider this! If you are a part of a non-profit organization, try to seek out these partnerships as much as you can – especially within your community. As a millennial, it is important to support the shift towards more socially conscious brands in order to make a difference. Do you research and align your spending habits with ethics that match yours.

Is your business or nonprofit looking to experience the benefits of a corporate social responsibility partnership? Let S. Sutton & Associates Inc. help you make the biggest impact possible. Contact us today so we can be your guides and provide you with the right roadmap and the right experts!

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