No generation is more socially conscious than Millennials – they are filled with a desire to make the world a better place for everyone and strive to make a difference. They’re not wasting time either, many are creating businesses that will make a bigger impact. From restaurants that feed and employ the homeless community and donate profits to charity to those clothing companies that donate clothing for every purchase that is made.
Millennials aren’t just pushing themselves to make a difference, they’re also pushing businesses to start making an impact. Almost three-quarters of Millennials want to see businesses doing a better job at engaging customers on social issues – this is an opportunity for business owners to step up and start giving back.
A Business Opportunity
It’s becoming increasingly difficult to come up with a unique selling point that is truly unique and while a social conscious certainly won’t make you unique, it will allow a business to stand out from the crowd. Especially when those businesses turn to their local communities to help solve issues and build initiatives that involve everyone. For small businesses, it’s as simple and building a partnership with a local charity and for larger businesses donating profits is an effective way to show your social consciousness.
Businesses that have used this to great effect include Toms, who donate shoes for every pair purchased. Another is a headphone company which takes a portion of profits and supports hearing loss and restoration. When a customer purchases a pair of headphones they donate a hearing aid.
Showing Your Social Conscious
There are a number of causes that are more important to the Millennials than any other, typically those are healthcare, equal rights, and the environment. While Millennials are constantly getting the blame for this, that, or the next thing – what they are really doing is forcing businesses to stand up and be counted. They are driving the world to choose sustainable options.
They’re more risk-averse than previous generations and don’t spend money as unnecessarily either. There are key patterns, though, that show when they do spend and it’s on brands with a social conscious that choose to do business sustainably and ethically.
While two-thirds of all consumers are happy to spend more purchasing a product if it’s from a sustainable source, the number of Millennials is 73%. Moreover, 81% expect their favorite brands to declare their social conscious publicly. That extends to marketing. In what way? Traditional methods of advertising include radio commercials, billboards, and television commercials. Now think about how Millennials consume media… they’re not likely to hear those commercials because they stream music and entertainment. We live in a society where advertisements are taking up every surface that has been left unoccupied and eating into every millisecond of silence we experience, is it any wonder socially conscious Millennials want better? It’s all about corporate social responsibility.
Millennials want to make an impact on the world around them and they expect businesses to do the same, offering authenticity from and companies that offer their customers an opportunity to help and give back. Whether it’s donating profits or providing a facility to pay for someone else’s order.