in Roger Pettingell‘s opinion, there are a variety of reasons to give back, and they are not all related to environmental conservation. This is beneficial not only because it makes you feel good, but also because it increases your brand loyalty. According to research, millennials are more likely than any other generation to support businesses that practice good corporate citizenship. If your customers are pleased with your actions, they will be more likely to purchase your products in the future and to advocate for your brand on social media sites such as Facebook and Twitter.
Another excellent strategy for gaining consumer loyalty is to donate free goods or services to charitable organizations. 83 percent of consumers, according to a Cone Cause Evolution Study, would like to see their favorite brands contribute to charitable causes. Despite the fact that these advantages can be enormous, a few simple steps can help you increase your brand loyalty. Listed below are a few suggestions for brand-giving that will aid in the development of brand loyalty. These suggestions are simple to implement, and they are completely free!
Give shoes to people who are in need of them. Some companies, such as TOMS, make a donation of one pair of shoes to a child in need in 70 countries for every pair of shoes they sell. Supporting charities and raising awareness about important causes, such as AIDS, can help brands attract millennials, who are more likely to remain loyal to a brand that supports the cause than other generations are. Employees also show loyalty to the company’s brand. Pura Vida has a website where you can learn more about how you can give back.
Take, for example, charitable giving. Millennials, who are increasingly charitable in their outlook, prefer to work for organizations that support charitable causes. As a matter of fact, 59 percent of them would prefer to work for a company that gives back to the community over a company that does not. For example, during their recruitment process, Goldman Sachs places a strong emphasis on philanthropy. Younger employees are encouraged to volunteer with non-profit organizations, while older employees are given the opportunity to start their own companies.
Roger Pettingell pointed out that an additional method of increasing brand loyalty is through personal relationships. A good example is how non-profit organizations, which develop these relationships by developing relationships with their donors, can help. When a donor’s son looks forward to the annual summer carnival for donations, a relationship between the donor and the nonprofit’s leadership can develop in a similar way. A brand-loyalty strategy helps businesses maintain customer loyalty by making donors feel good about their contributions to a nonprofit.
Donating to charity has been shown to be an effective method of increasing brand loyalty. To increase sales, ecommerce businesses can implement a charitable giving program or make a donation at the point of purchase. Buyers spend 26 percent more money when a brand supports a charitable organization, according to research. Customer churn is reduced by 67 percent as a result of charitable giving, and brand loyalty can be increased in a variety of ways. However, what kind of impact will it have on your company is unclear. The answer is dependent on the mission of your brand.
Many restaurants tie their customer loyalty programs to charitable donations, regular purchases, or other acts of good will. Among other things, the “Farm to Restaurants” program in Northern California facilitates the establishment of relationships between farmers and restaurants. As a result, both the farmers and the diners benefit from this initiative. However, a restaurant should always keep in mind that not every charity puts its money to good use, so it is important to be mindful of this. Make certain that the charity is worthwhile and effective before you donate any money by conducting research and verifying its effectiveness before you start giving money.
Companies that give back to their communities are also more likely to develop emotional connections with their clients. The REI Foundation received $0.10 from every purchase made by customers of the outdoor retailer. The REI Foundation is a 501(c)(3) non-profit organization dedicated to the preservation of natural resources. In addition to giving back to the community, REI is committed to environmental causes, such as climate action. In a similar vein, DSW has formed a partnership with Soles4Souls. DSW VIP members can earn 50 Reward points for donating gently used shoes, which they can use to purchase new shoes or boots in the future.
according to Roger Pettingell, love Your Melon is an example of a company that has been successful in leveraging its social responsibility efforts to build brand loyalty. During the past year, the company has donated $4.3 million to the fight against pediatric cancer and provided 125,000 hats to children battling the illness. Consumption of brands that make people feel good is proven to increase brand loyalty in the marketplace. Love Your Melon is a fantastic example of this. Children suffering from cancer benefit from the company’s charitable efforts, allowing customers to feel good about their purchases.
Blind Barber is another company that incorporates social responsibility into their marketing efforts, and with every purchase, they give back to the community. The company’s social responsibility is extended to their in-store customers through this strategy, which allows them to do more online. This has the potential to increase the lifetime value of customer loyalty while also supporting local charities. All of these strategies have the potential to have a significant positive social impact over the long term. As a result, how can a brand make use of these tools to achieve their goals?