Insights

Cashing In On Ethics, The Ethical Way

You don’t need to send a pair of shoes to a child in need to help society in order to win the loyalty of those looking to patronize cause-based brands.

The world can feel pretty devastating. I imagine this sensation isn’t new, but I do believe that we are all witnessing a heightened level of that crushing feeling.  

It leaves me, and I am certain many others, often feeling empty and without hope. These feelings come in spells of course, but more and more it feels as if there is a growing weight on my chest. That weight can be alleviated, if only temporarily, by spending time with loved ones, going on a news blackout, binging Hallmark holiday movies (no matter the time of year), and doing things that make you feel like you are giving back.

I am going to dig into that last one because believe it or not, you and your business can make money off of it.

I Know, I Know, Toms

It feels good to help others. Now there are many ways to do this, but the most easy for the average money-spending millennial is to support brands that give back in some form. Sure, many of us also volunteer and attend protests and marches, but in the end we can’t drop everything and dedicate our time solely to helping others.

If you are a business and are giving back to the community in any way (more on this later), you are missing out on a huge market. Time and time again I work with businesses that don’t realize that they are providing a service that helps make the world a better place. You don’t need to send a pair of shoes to a child in need to help society in order to win the loyalty of those looking to patronize cause-based brands. There is an incredible amount of ways that your brand, whether you are a two-person shop or a firm with hundreds of employees, can give back and establish yourself as a purpose driven brand.

Cause Buyers

At Y’all, we call the growing number of consumers who seek this type of brand out Cause Buyers. Cause Buyers make purchase decisions based on their perception of what the brand is doing to impact society, and in turn are contributing by patronizing said brand. Their mindset is, at its core, driven by a need to feel like they are doing their part to help others. While this may sound selfish, and in some ways is driven by self-image motivations, there is absolutely nothing negative about it. Cause Buyers do their part to support those who they feel are putting in the time that they don’t necessarily have to better society. Parting with their hard-earned money is a lot easier when they are confident that in addition to going towards a necessary or luxury purchase it is also going to make its way back to the community.

The amount of consumers that qualify as Cause Buyers is growing at an astoundingly rapid pace. This is driven by both the current political climate in the United States and abroad, as well as the increasing purchasing power that the generally socially-aware Millennials now wield.

Don’t miss the opportunity to generate loyalty from Cause Buyers.

Stay tuned for further writing on how to attract Cause Buyers while still remaining ethical.

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