Cause Marketing: Set Your Social Enterprise Apart

One area that will set your social venture apart from a classic organization competitor is your story. You are doing something unique. Instead of just offering your product or service, you are committed to making a difference. You have a top quality product and a attention grabbing social mission.

Now you have to tell your story, we call this Cause Marketing.

There are a variety of surveys showing off the benefits of having a cause underlying your product or service. That in most all cases where there is similar quality and price cause wins.

"42% of consumers put social purpose as a top deciding factor after quality and price." (good purpose survey)

To Get the Most From Your Cause Marketing Efforts:

Be Authentic

People can detect a fake from a mile away. Consumers know if you are just doing lip service, or if you are really truthful.

Check it in yourself first: Are you really truthful? Is it something you are serious about or are you just doing it to try to gain a competitive advantage?

Be authentic. Get passionate about a problem and work to make a real change in that area through your social enterprise.

Tell a Your Story:


"Hi I'm Joe from xyz travel company, We are a full service online accommodation provider, offering hotels, cottages, and villas. We focus on customer satisfaction and fulfilment." BLAH BLAH!!

"Hi I'm Justin from Ethic ! Travel. We offer top quality hotel and vacation rentals online. But we are more than that. With every booking we donate a portion of profit to help build homes for someone in need. So you can have a vacation and make a difference!"

This is one of the keys to Tom's Shoes success. Someone says, "hey check out my shoes, and guess what, whenever you buy a pair another pair goes to someone without in a third world country. Isn't that cool?"

That's effective word of mouth advertising! It's something people want to share with their friends and co-workers.

Choose the right platform:

If you want to compete with the big boys you have to find the best path and platform to share your story. There ARE people to be found who will LOVE what you do and be unbelievably passionate about it. It's your job to be on the platforms where they are looking for something like you!

Find which platform would fit best with your organization (your culture, social mission, strategy, etc.)

Platforms:

• Blog
• Video
• Podcast
• Micro Blogs (Twitter, Facebook, etc)
• Online Networking groups
• Offline networking groups
• Rotary club, toastmaster, EO Group, etc.

There are many more platforms, and much has been written on them. Just Google it and you will find plenty about marketing platforms you can use.

Find the best platform or arrangement of platforms that harmonize your brand to get across your message.

Market Your Product or Service Too:

I know this should be evident, but you would be surprised; I have seen a number of social businesses that when you look on their twitter, blogs, or other marketing efforts ONLY talk about their cause. Remember, you are selling a product or service too. People are not JUST going to buy from you because you do good. You must offer an exceptional product or service, as well as a social mission.

6 benefits to adding strategic social impact to your business

1) Increase customer buy-in / loyalty because they are a part of something more than profit.

“86% of global consumers believe that business needs to place at least equal weight on society’s interests as on business’ interests.” - Edelman 2010 goodpurpose®



2) Strengthen employee attraction, retention, and satisfaction

A survey of 759 graduating MBAs revealed they rank social responsibility very high on their list of values. 97.3% said they’d take up to a 14.4% sacrifice in income to work for a company that exhibited a strong social mission (Stanford Survey).



3)Increase your competitive advantage through adding a unique selling point

42% of consumers put social purpose as a top deciding factor after quality and price (good purpose survey).



4) Your social impact goes further

Toms Shoes founder, Blake, says that if he were to invest $500,000 into buying shoes to give away it would have given shoes once. However, by investing $500,000 into his business that gives shoes with a sustainable model, as of Sept. 2010, they have been able to donate one million pairs of shoes.



5) Attract strategic partnerships

Danone partnered with social enterprise Grameen bank to provide fortified yogurt in Bangladesh. Likewise, Ralph Lauren created a strategic partnership with Toms Shoes.



6) More fulfilment in business and life

We all know that money is not an end in itself, and leaves us unfulfilled and unsatisfied on its own. Whereas, giving and helping others brings true fulfilment.



We are offering a special 30 minute free consultation to talk through how you can add a strategic social impacting element into your business. Our desire it to see the world changed, and that starts with you. Send us an email to set up your free appointment, live, phone, or Skype.

Social Business Investment - ROI Squared

ROI2 (ROI Squared) - Return on Investment x Return on Impact

Usually, there are two types of investments available: financial and social. The first is investment into high producing corporations for optimum return on financial investment. The second, and less common, is investment into the charity sector for a high social return on that investment; which would be viewed as a donation not to be recouped. Having said that, there is a new trend growing; being powered by a fairly new theory coined social business.

The Trend

A social enterprise is a firm that is self-sustaining, not relying solely on donations, with a definitive goal of creating a social impact on society. A idea brought into popularity by nobel peace prize winner Muhammed Yunnus, Grammean Bank founder, a micro-finance lending institution in Bangladesh. Through his model, the bank lends modest amounts to impoverished entrepreneurs that normal banks would never consider. Thereby, giving them the chance to create income and lift their families out of poverty. Those funds are then recovered and can be used again and again. An income earning company whose main concentrate is social good.

What's most desirable about the idea of social business is the fact that it bridges the gap between traditional businesses and charities, at least in some situations. It opens up a whole new set of business opportunities, as well as investors. Yunus calls it a new capitalism. Social business will appeal not only to individuals and businesses that donate, but also to ones that desire to make a social impact, yet don't want to simply give once and lose their money in a donation.

In a social business the impact of the invested funds will be multiplied.

Consider this, if a person decides to donate $10,000 into a charity the charity will take the funds, put it to great use making a difference, then it is gone. On the other hand, a self-sustaining social business will receive the funds put it to great work in their business, which is making a difference, and recoup the investment back. The investor can then re-invest that $10,000 into the company or choose to use it elsewhere. That is why in social business it is about considering ROI2, return on investment x return on impact.

I want to pose a visionary question; what if investors began partnering with social businesses? Instead of leaving funds in savings yielding 2-3%, investing them into a social business receiving the same near the same rate of return, or better, and were making an incredible social impact. Then those funds could be reused for social impact over, and over and over again.

For more information on this topic please see our iSi Capital page and contact us.

Check out our new branding and download your free eBook on social business HERE!

Why social entrepreneurs can be the most successful people the world has ever seen

I have frequented training courses, have been learning and studying, and spoken to numerous successful people. Most, if not all, point to one of the same variables in their high accomplishment: Purpose. The reason behind what you do. If you do not have it you probably won't succeed; but if you do, the skies the limit. In this article I want to explain why social entrepreneurs who are working to build social businesses should be the most successful in the globe.

Gary Keller, founder of Keller Williams Realty, says it perfectly:

" ... A Big Why brings big focus and big energy, and a little why brings little focus and little energy. HIGH ACHIEVERS ALWAYS HAVE A BIG WHY" (p. 73).

The superb book, E-Myth, by small business guru Michael Gerber says it like this,

"Your Primary Aim is your innermost driving force. It gives you a sense of direction and purpose. It motivates you to your highest levels of energy, and puts you at your best" (Chpt. 12).


With that said ...

Don't social entrepreneurs have the primary target of all? Don't they have the most  worthy motivation behind what they are doing? Then doesn't it stand to reason that social entrepreneurs, as they are giving their lives to solve the world's complications, should be the most enthusiastic, avaricious, energetic, devoted and efficient people on the face of the globe?

One lesson I learned early in my social entrepreneurship activities was that money is not a good inducement. Since establishing my firm Ethic Travel, which focuses on using a percentage of our profits to help construct homes for those in need, and now launching Impact Through Business, I have NEVER had this much liveliness and obsession. I'm up at 4:30 a.m most mornings, and work till late into the evening many nights; all to do it again the next day. And what's more, I am thoroughly loving it. I can see the repercussions that our business can have on individuals lives. I put a picture of a boy in atrocious poverty up on my wall. When I do get down or feeling lethargic, as we all do at times, I take a long look and let it refocus my purpose. It's an utter impossibility to stare at this, let it sink it, and not have burst of motivation surge through me. This is what I am working for in Ethic Travel. To see quality homes built for people like this, to give them a healthy stable environment so that, in turn, they can begin to build their lives.


What moves you?

If you want to arrive at your potential think about the big picture. What do you want your life to be about? What do you want the history of your life to be? I truly believe that pursuing social entrepreneurship should be the most triumphant in the world; they have the biggest why.

Not only will a big why propel you to success, it will sustain you once you get there. If all you are pursuing is money alone, you will be sadly saddened and unfulfilled once you get some. True success is being fulfilled, and that cannot come by pursuing money alone.

Move forward in your journey to true fulfilment and utter success download your FREE e book, Changing the World Through Business: the what and why of social entrepreneurship. - Click Here

Welcome video blog: A blog focused on businesses making a difference

Welcome to the Ethic ! Business blog. This isn't a place for me to spew my thoughts, but instead I hope it becomes a place where people gather, read, comment, and connect with other social businesses and people passionate about making a difference. A place where we as consumers can learn how, why, and where we can buy socially impact-ful products and services.

Calling all entrepreneurs, world changers, and history makers

“Potential entrepreneurs are outsiders. They are people who imagine things as they might be, not as they are, and have the drive to change the world around them.” - Anita Rodick

Entrepreneurs have always been innovators, changers, and an influential force throughout history. From them have come a vast array of life changing inventions and ideas, some turn into reality while some stay ideas! We have reached a day and age where a generation of social entrepreneurs need to rise up. Now more than ever, as the world is becoming globalized we have a responsibility. In the recent years many injustices have been brought into the open; human trafficking, child soldiers, poverty, AIDS, extreme poverty, and that’s just to name a small few. 

What if an incredible generation of social entrepreneurs would rise up passionately pursuing solutions to todays social problems? What if potential entrepreneurs realized that it really isn’t money that satisfies the souls longing, but instead giving and helping others fills it. What if every business and consumer began purchasing on ethical grounds! What if throughout our lifetime we could use what we have to truly make a difference in someone's life? If you are going to spend your life doing something, spend it helping others and you will be amazing at how fulfilled you will be. It’s a new age of doing well, by doing good.

 

The what and why of a social business

       What is a social business? One group defines it, “As with all businesses, they compete to deliver goods and services. The difference is that social purpose is at the very heart of what they do, and the profits they make are reinvested towards achieving that purpose.” (Social Enterprise Coalition). A business with a purpose woven into its fabric from the beginning. Strategically created, not only, to maximize sales, but to maximize impact as well. 

“About 1.1 billion people are living in inadequate housing conditions in urban areas alone.” (Un Habitat)

“...an estimated 100 million homeless people around the world, available data suggest that increasing proportions are women and children.” (Un Habitat)

The growth of the social business sector is incredibly important to changing the inequalities of the world. If set up correctly, it offers the best of both charitable organizations and efficient business. One challenge that charities face is the continual lack of funding; forcing them to spend their valuable time and effort on fundraising activities. Which takes away efforts to impact their cause.  A social enterprise can overcome this by producing continual revenue through their products and services and directing a portion, or all, of their profits into their chosen cause. 

      Imagine a world where the majority of businesses began operating with a social mission at their forefront. Imagine what kind of change that could bring to those with no future, no homes, no water, no education, and no food. Imagine what it would be like if you knew you were impacting humanity in a great way simply by grocery shopping, or in our case by renting vacation home.  

     That is what I find so inspiring about social enterprise and exactly why part of our business, blogs and podcasts will be dedicated to highlighting other great social businesses to begin using. There are many with equal products, or better than the competitor, but that are doing good by it. It is truly the best of both worlds. Muhammud Yunus, nobel prize winner, states that we can create a new form of capitalism. I like that. 

    Our company, Ethic ! Travel, is mainly focused on providing incredible vacation rentals but we are also dedicated to working with and highlighting other great social businesses, or companies that hold CSR (Corporate Social Responsibility) highly. 

To find out more about our company, how we are making a difference, or to find some incredible vacation rentals please visit us at - www.ethictravel.com


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Social Enterprise Coalition, retreived Sept 1, 2010, http://www.socialenterprise.org.uk/pages/about-social-enterprise.html.

Un Habitat, retreived Sept 1, 2010: 06:08, http://www.unhabitat.org/content.asp typeid=19&catid=282&cid=789.