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Incorporating Causes into Your Business

Ryan Scott is founder and CEO of CauseCast, you can view more posts here on Docstoc or follow him on Twitter.

  1. It will help you retain employees. Employees engaged in causes have a 90% retention rate.
  2. It will help you engage your customers.
  3. It gives you an advantage over your competitor if they don’t support a cause.

Transcription:

There are a lot of good reasons to incorporate cause into your business model. It’s going to give you a competitive advantage. For example, you can use cause to engage your employees. There’s a down north shows that employee retention for employees that engage in volunteering and donating programs is about 90% or so versus about 65% or so that don’t engage with causes.

Another reason, another competitive advantage is for engaging your customers. Cone Research a recent study that indicated that consumers buying two – choosing between two products that are otherwise equivalent, say, toothpaste, 90% will switch brands if one brand supports a cause and another one doesn’t. So you can see, there’s a lot of opportunity to take advantage of this competitive advantage by incorporating cause into your business.