This week, Goldman Sachs announced that it will spend $100 million over the next five years to provide business education to 10,000 women in developing countries. The philanthropic effort, called 10,000 Women, is a program that will provide small business owners in developing countries with training in the areas of marketing, e-commerce, accounting and finance. What an investment in the world – and a smart move in the cause marketing playbook.
As a society, American women seem to have turned a corner when it comes to philanthropic efforts by businesses and corporations. While the power of the “pink ribbon” is still strong, women recognize that companies need to do more than just say they support a cause if they want to attract and keep female customers.
No matter what the size of your business is, having a philanthropic arm adds depth and dimension to your company’s personality. As technology evolves and women increasingly depend on the Internet to make their lives more efficient (meaning she sees you and your competition as essentially being the same), your personality will be a tipping point in whether or not she does business with you.
For real success in using cause marketing, keep these things in mind:
- Pick a cause that comes from your heart. With four times as many connections between the left and right sides of the brain, women tap deeply into the right-brain area of emotion in order to make a connection. It doesn’t matter what your cause is – breast cancer awareness, the environment, or saving African gorillas – if a woman senses that your passion for a cause is genuine, she’s going to like you.
- Do more than support – inform. Don’t stop at sponsorship of events and donation of funds… inform your community about the cause you believe in. Provide flyers and brochures in your retail or office location; have a page on your website that explains your cause in detail, with links to outside organizations if needed.
- Be brave and bold. How far will you go to walk the talk? Making your cause a living, breathing entity will create a memorable experience for your customers and endear them to you for probably forever. I dare you to be as bold as Bill Brazell, who transformed himself into Kenny the Kidney and walked around NYC in the costume (not to mention ran a race in it!) to show his support for eradicating the kidney disease PKD. (You haven’t seen anything till you see Kenny do the chicken dance.)
It’s going to take more to get the attention of female customers, and the more authentic personality you can show, the better off you’ll be when it comes to your business. Be real, have fun, and do the world some good.
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