New Study: Consumers Demand Companies Should Engage in Cause-Marketing & Corporate Social Responsibility Initiatives
(3BLMedia/theCSRfeed) CHICAGO, IL - Dec. 15, 2010 - Two new public opinion surveys released today by Do Well Do Good, LLC indicate that consumers demand that companies should engage in cause-marketing and corporate social responsibility programs. Over 88% of consumers think companies should try to achieve their business goals while improving society and then environment and 83% of consumers think companies should support charities and nonprofits with financial donations.
More than just general opinion questions, the surveys outline the extent to which consumers and employees of companies will act on their values. For example, the average American consumer will drive nearly 11 minutes out of their way to buy a cause-marketing product and 83% of employees would seriously consider leaving their job if their employer used child labor in sweatshop factories.
Do Well Do Good, LLC president James Epstein-Reeves explains, “It is time to write the obituary on the idea of companies exist merely to return a profit to shareholders. Consumers hold higher expectations of the companies they buy from and work for – profit is important, but so are principles.”
Of special note, the survey presents new data on the “price elasticity of cause-marketing products” by outlining the additional amount, or premium, consumers are willing to pay for a product that supports a cause they care about. For example, a majority of consumers are willing to pay an additional $2.12 for a $1 cause-marketing product and whereas for a $50 product consumers are willing to pay an extra $4.53.
The surveys also serve as a “playbook” for companies already engaged in cause-marketing and corporate social responsibility programs. For example, 35% of consumers dislike being asked to donate to charities at the register. Instead companies will have better luck getting consumers to participate in a cause-marketing program if an employee explains why the cause is important or if the company offers matching funds for donations.
“As it relates to corporate social responsibility programs,” Epstein-Reeves notes, “Recycling programs and preventing the employment of child labor are basic expectations of consumers.” The survey outlines over 17 different social and environmental initiatives consumers expect of “good companies” and companies consumers consider leaders.
The Summary Reports of the surveys are available for free on the company’s web site: www.DoWellDoGood.net
About the Survey & About Us
The Do Well Do Good Public Opinion Surveys on Cause- Marketing and Corporate Social Responsibility were conducted through an online panel organized by Qualtrics Labs, Inc.. The survey was conducted between September 23-25, 2010 with 1,017 respondents consisting of 503 women and 514 men. The survey is estimated to have an error rate of + 3.1%.
Do Well Do Good partners with companies and nonprofit organizations whose leadership wishes to increase the positive impact of their corporate social responsibility, cause-marketing, and philanthropy initiatives. We provide the tools and enhance the skills of program managers in order to implement a clear and comprehensive strategy, improve communication between internal and external audiences, and integrate programs throughout all levels of the company.
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