Corporates could be hungry to partner with not for profits in 2021
14 October 2020 at 5:18 pm
This bold prediction comes from Hailey Cavilll-Jaspers, corporate-cause partnership matchmaker, who shares new research that reveals the conscious consumer era has arrived.
After a year of unfamiliar challenges and cataclysmic change, there’s some good news for not for profits. New research from Di Marzio Research and BePartnerReady.com® reveals that the conscious consumer movement has finally gone mainstream in Australia. Conscious consumers are aware of how their purchase impacts society and they prefer to buy products that are more sustainable, give back to society and align to their values and ethics.
This year corporates have been busy embracing remote working and pivoting their business to adapt to changing customer behaviour, new needs and wants. And they will have to adapt even further. One of the demands to emerge from COVID is for companies to let go of the old way of financially driven capitalism to fully embrace a triple bottom line model. Consumers expect corporates and brands to play a significant role in solving social problems and be measured by their social impact as well as financial performance. And they will reward those that do.
The new research report – The conscious consumer era arrives. Finally – reveals that almost half of Australians feel let down by corporates in relation to meeting their societal obligations, and two in three Australians believe that corporates should be doing more, especially in tough times.
Coupled with this feeling of discontent, consumers have had an opportunity during COVID to reflect on the kind of world they want to live in. They have realised that the most powerful weapons they have to effect positive social change are their voice (through petitioning and campaigning) and their wallet. Almost half of Australians say they will, in the coming year, switch from their normal brand to another brand if it supports a charity, and in the past year one in three Australians have actively boycotted a company or brand with a poor record of social responsibility.
These statistics are compelling and will be hard for companies to ignore, especially as the recession bites and they fight to maintain customer goodwill and loyalty in the coming years. 2021 could just be the year when corporates finally step up and play an active role in solving social problems. If so, corporates and brands will be looking for innovative, professional not for profits to partner with.
The full research data will be revealed for the first time at a Pro Bono Australia webinar on 22 October. I’ll share the full research (including which causes are most motivating to consumers to switch brands), my insights on what it means for not for profits, along with advice on how to upskill for this opportunity and the steps to become partner ready.