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November 3, 2006
Youth with a Cause
Posted by Kevin D. Hendricks | Filed under: Cause Marketing
The youth have spoken and they have a cause. A recent study surveyed 1,800 people between the ages of 13 and 25 and found that causes matter for young people.
Especially when it comes to where they shop and how they spend their money:
89% are likely or very likely to switch from one brand to another (price and quality being equal) if the second brand is associated with a good cause.
83% will trust a company more if it is socially/environmentally responsible.
74% are more likely to pay attention to a company's message when they see that the company has a deep commitment to a cause.
69% consider a company's social/environmental commitment when deciding where to shop.
66% will consider a company’s social/environmental commitment when deciding whether to recommend its products and services.
But young people's commitment to making the world a better place doesn't just end with their shopping habits. It also influences where they want to work:
79% want to work for a company that cares about how it impacts and contributes to society.
69% are aware of their employer's commitment to social/environmental causes.
64% say their company's social/environmental activities make them feel loyal to that company.
56% would refuse to work for an irresponsible corporation.
Furthermore, the study also showed that those who actively volunteer are much more likely to care about causes and act accordingly:
42% who volunteer weekly describe their “ideal” work environment as a place that will help them make the world a better place, outranking all other factors, including high salary (41%) and flexible hours (37%).
87% who volunteer weekly have purchased a product that supports a cause in the past year; that number drops to 48% for non-volunteers.
71% who volunteer weekly are likely to speak out against a company that is NOT socially responsible as compared to 48% of non-volunteers.
The bottom line is that young people care about causes. Wanting to better the world influences what they buy, what they recommend, where they work.
For non-profits this should be encouraging news that the next generation is ready and eager to support their cause, and that partnering with businesses can work, despite some reservations from the older generation.
For businesses this should be a wake up call that the next generation expects social responsibility. Corporate greed will sink your company.
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