Over the last five years the market has begun to place an economic value on social outcomes. We hear about CSR and the concept of “shared value” between private and independent sectors.
Indeed, social impact has become a valuable economic commodity: people are willing to pay for it, sacrifice for it, invest in it, and work for it. This phenomenon extends well beyond do-gooders and environmentalists to include mainstream consumers, investors, corporations, employees, and governments.
Here are some compelling statistics that illustrate the point:
- Seventy-nine percent of consumers would switch brands to support a cause they care about (price and quality being equal)—and for Millennials (ages eighteen through twenty-four), it’s 88 percent!
- 90% of consumers have a more positive image of a company that supports a cause they care about.
- 92% would choose working for an environmentally friendly company
- A report “GS Sustain” from Goldman Sachs found companies – leaders in environmental, social and governance (ESG) policies are leading in stock performance by an average of 25 percent
The way in which we raise money (such as grants and donations) today is fundamentally different from the way we’ll need to raise money in the social capital market. The way we market to donors is fundamentally different from the messages we’ll need to convey to social capital market players. And the kind of data we measure today is fundamentally different from the kind of data that we’ll need to succeed in the social capital market. To fully take advantage of this new market opportunity, nonprofits must fundamentally rethink the implications of measuring its results for their fundraising.
Metamorphosis Consulting can assist your organization with Corporate Fundraising process from A to Z starting from development of Corporate Fundraising marketing plan; to identifying relevant performance indicators; to the development of sponsor’s inquiry generation/ sales/ and loyalty management processes.