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ME CORPORATE PARTNERS

Why Millennials Want your Brand to Invest in a Cause

Feb 02 ,2017

Why Millennials Want your Brand to Invest in a Cause

 

Millennials Cause Marketing CSR GSG Blog

Why the sudden interest in causes? The growing interest in social causes is not so sudden, and definitely not temporary.

As the generation that grew up alongside the internet boom as well as the expansion of CSR (corporate social responsibility) and serious conversations about the environmental impact of consumerism, millennials care about how they impact the world around them. They see that big picture change starts with how they spend their dollars. That’s why some retail brands have found success with cause marketing, despite their for-profit models.  ‘Doing well and doing good’ is a mantra for millennials.

Social media has made it possible to have direct impact through seemingly ordinary purchases. These purchases make it easy, and convenient for consumers to make an impact. Efficiency is another reason why millennials are purchasing products and services that make it easier to do more. We’ve seen a growing trends in multipurpose tools such as tinted moisturizer and multimedia capable phones, and tools that just make life easier like “the cloud”. Brands must now offer solutions that serve the consumer and impact a social cause at the same time.  Millennials require brands to get involved purposefully, simply giving is no longer enough.

Purpose driven brands that integrate a cause into their business model like TOMS communicate their mission instantly, and exhibit authenticity. (Read more about purpose driven brands.)

Why does this lie on the shoulders of brand and not government? Millennials believe “businesses have financial and technological resources to make change happen”, and millennials want to be involved. In return, millennials “reward brands that behave like good citizens with loyalty and positive word of mouth”.

Millennials are already using tools at hand like social media trying to be part of the solution. Viral campaigns like the ALS Ice Bucket Challenge allowed millennials to do good by participating from anywhere in the world, as long as they posted their videos on social media. Two-thirds use social media to engage around CSR (66% vs. 53% U.S. average” and 9 out of 10 are likely to switch to brands involved with causes.

Tired of hearing about millennials yet? Get ready to hear more for many, many years to come. Millennials are now the “largest living generation” in America and also represent the largest generation in the labor force. As their spending power increases, so must our attention.

And if just by chance you were planning on sitting this one out while the social cause phase passes on through, we’re warning you now, social causes aren’t going anywhere anytime soon. In fact, Generation Z (Anyone under 20 years old as of now) shares similar views concerning social causes as their predecessors. Cause marketing now requires long term attention and thoughtful involvement from brands like yours.

Here are some model campaigns doing it right.