Ask not how much more you can get from consumers but how much more you can give consumers. The favor will be returned to your bottom line.
Is Your Brand Socially Responsible? In Forbes’ 25th anniversary issue of “The Richest People in America” (October, 2007), author, Jeffrey Sachs, introduces what he describes as a “capitalist tool that can change the world.”
According to Sachs, although Forbes’ ranking of the super rich is a “valuable and entertaining public service,” evaluating the other end of the spectrum–the super poor or, Forbes One Billion–would avert blame for the ills of the poor from the poor as well as the rich and fuel entrepreneurship. Entrepreneurship in turn, would fuel the economy and social responsibility.
In an era where selfishness has led to market collapses, e.g. real estate and recording industry, consumers continue to voice their preference for social responsibility either by not spending at all or funding philanthropic initiatives of their choice.
It is a biblical principle that the more liberal you are, the more you will gain. Likewise, a tight hand stands to lose everything.
Rather than creating marketing plans, which entice consumers to spend by any means necessary, brand managers should think of ways to add value to a brand experience. Being authentic and socially responsible is a tangible and seamless way to connect with communities or consumers who ultimately guarantee return on shareholder investment.