Ryan Scott is founder and CEO of CauseCast, you can view more posts here on Docstoc or follow him on Twitter.
- It will help you retain employees. Employees engaged in causes have a 90% retention rate.
- It will help you engage your customers.
- It gives you an advantage over your competitor if they don’t support a cause.
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.