Profitable Good Group | Good is not Sustainable if it’s not Profitable | Santa Monica, CA | The Millennials
Profitable Good Group – Our Practice focuses on advising CEO’s who realize the positive P+L impact of an integrated Shared Values strategy as a competitive advantage in customer acquisition, brand building, innovation, revenue growth and employee retention.
Shared Values,Corporate Shared Values,Corporate Social Responsibility,CSV,CSR,Impact Investing,Social Business,Social Enterprise,Net Impact,Triple Bottom Line, Double Bottom Line, Collective Impact
16505
page-template,page-template-full_width,page-template-full_width-php,page,page-id-16505,ajax_fade,page_not_loaded,,qode-child-theme-ver-1.0.0,qode-theme-ver-3.0,wpb-js-composer js-comp-ver-4.11.2.1,vc_responsive
 

The Millennials

From buying products tied to a cause, using their online networks to amplify social justice messages, or holding their employers to higher socially responsible standards, Millennials are driving the demand for purpose-driven business strategies.

tab

Gender Affinity for Shared Values

Women Outpace Men for Good
millennial_subsets-(dragged1)

Millennial women are more likely to have bought a product associated with a cause in the past 12 months.

millennial_subsets-(dragged2)

Millennial women are more likely to seek out responsible products whenever possible.

millennial_subsets-(dragged3)

Millennial women are more likely to hold companies accountable for producing results.

How Millennials Receive Shared Value

 

The 2015 Cone Communications/Ebiquity Global CSR Study reveals an increasing democratization of preferred communications channels. Once relegated to one or two traditional sources, millennial consumers now look to multiple channels to get CSR information.

cone

Numbers Don’t Lie

Recent studies and resulting data definitively show the impact and influence of Good programming on Millennials and reflect their values and demands on companies.

Millennials – Activists for Good 

They walk the walk and demand change

79%%

79% (vs. 66% U.S. average) of Millennials are willing to pay more for Good initiatives

84%%

84% (vs. 78% U.S. average) of Millennials are willing to consume less to support Good initiatives

87%%

87% (vs. 83% U.S. average) are willing to purchase a product with a social or environmental benefit

70%%

70% (vs. 66% U.S. average) of Millennials will pay more for a Good product

74%%

74% (vs. 56% U.S. average) will volunteer for a cause supported by a company they trust

62%%

62% (vs. 56% U.S. average) of Millennials will take a pay cut to work for a responsible company

Millennials – Amplifying Impact through Social Media

Engaging and informing their multi-platform network for Good

38%%

38% (vs. 30% U.S. average) share positive information about companies and issues they care about

66%%

66% (vs. 53% U.S. average) use social media to engage around Good

33%%

33% (vs. 27% U.S. average) learn more about specific companies and issues

26%%

26% (vs. 21% U.S. average) share negative information about companies and issues they care about

Making Their Voices Heard

Millennials are increasingly voicing their expectations for Good strategy

70%%

70% (vs. 60% U.S. average) will voice opinions to a company regarding its Good efforts and strategy.

78%%

78% vs. (60% U.S. average) of Millennials say they would voice their opinions on a company’s Good efforts through comments on company websites, blogs or reviews

88%%

88% (vs. 78% U.S. average) of Millennials consider Good when deciding which products and services they recommend to others

82%%

82% (vs. 72% U.S. average) are willing to tell friends and family about Good efforts

Affluent Millennials*

Putting their money where their conscience is

*($100K or greater HH income)
95%%

95% (vs. 85% U.S. average) of affluent Millennials say they would switch brands in favor of one that supports a good cause

82%%

82% of affluent Millennials who said they would donate to a charity will follow through with their intention

81%%

81% of affluent Millennials report having donated in the past 12 months

Millennial Moms

Nurturing the present and impacting the future

54%%

54% (vs. 49% U.S. average) of Millennials assume companies are being responsible as possible until they hear otherwise

89%%

89% (vs. 84% U.S. average) of Millennials consider Good in everyday decisions including which companies do business within their community

87%%

87% (vs. 80% U.S. average) of Millennials consider Good when deciding what they buy and where they shop

Supportive Data Bank

Young Consumers - Does Doing Good Do Good For Your Brand?

``Millennials and Z’s will make up 50% of consumers by 2020… these younger generations have a high bar for the brands they associate with. They’re looking for brands with purpose…``

Read More (Forbes, 2015)
Millennials at Work

``The largest (40,000), most comprehensive global study ever conducted into the attitudes of “Millennial” employees has found that in order to foster a greater sense of commitment among Millennials it will be necessary to transform the core dynamics of the workplace. Pi Slice Study (2012) determined that 90% of professionals feel that CSR is a moral responsibility that companies have towards local commmunities. They also found that 40% of employees in CSR driven companies have better results than non-CSR driven companies.``

Read More (PwC, 2015)
Millennials and CSR

``From buying products associated with a cause to using their networks to amplify social and environmental messages, Millennials are universally more engaged in CSR efforts.``

Read More (Cone Communications)

“Millennials are prepared to make personal sacrifices to make an impact on issues they care about – whether that’s paying more for a product (70% vs. 66% U.S. average), sharing products rather than buying (66% vs. 56% U.S. average) or taking a pay cut to work for a responsible company (62% vs. 56% U.S. average).”

– Cone Millennial CSR Study (2015)