For consumers, a lot of thought goes into where they spend their hard-earned dollars. They want a superior product and a memorable experience. However, they also want to do business with brands and companies that have compelling narratives. A huge part of that compelling narrative is how these companies give back. For those brands who are focused on charitable contributions, their hard work behind the scenes is helping them win big with their customer base.
Take Warby Parker, for instance. The eyewear industry disruptor is a B-corporation that donates one pair of glasses for every pair sold. They donate monthly to source these glasses and give basic eye exams to men and women in developing countries. The charitable move, which incorporates the consumer in the process, has led the company to a $1.2 billion valuation.
TOMS is a storied brand known for its simplistic, casual footwear. However, there’s more to the company than tradition and style. For every pair of shoes sold, TOMS helps one person. The program is called One For One and has helped people with a range of assistance for “shoes, sight, water, safe birth and bullying prevention services”, according to the official website. The business is currently worth an estimated $400 million.
Companies like TripAdvisor, Atlassian and AOL are also known for giving back year-round.
Consumers are picky about who they support and where they shop. Now, charitable activities are an expected part of the package. The conscious consumer wants a guarantee that their purchase is enhancing the world instead of hurting it. For companies that heed the call and meet those expectations, they’re being rewarded with big sales and international recognition.
Giving back isn’t just a fad or a timely thing to do. It’s now embedded in the fabric of these brands, and it’s keeping them connected to loyal customers.