Offer Loyalty Members Opportunities to Give Back
Donating to charities has become more than just a check sent to the charity in need. Today, philanthropists socially invest into charities, seeking out opportunities that give back to others. With the impact of the Great Recession, individuals and the economy have become more socially conscious in helping those with life struggles. Companies that take on an active role in promoting their corporate social responsibility have become viewed more favorably than those who do not have high visible programs. Having the option to convert incentive program points to charitable donation dollars is a huge attraction in retaining loyal customers to your specific program.
Millennials may be categorized as the selfish dreamer generation, but they have redesigned the concept of giving back to others. In 2013 Blackbaud, a non-profit technology provider conducted an in-depth study on the views of charities across generations titled; The Next Generation of Americans Giving. The study found that 60% of Millennials donated an average of $481 per year across 3.3 charities. While other generations may have donated a higher percentage, it is important to note that in 2013 the average Millennial was not older than 32 and the impact of the Recession was still affecting them from obtaining a job. However, this did not stop the eager generation from making a global impact. Most Millennials raised money by running in marathons or participating in city clean-ups, all funded by a support system. The study also found that 57% of Millennials want to directly see the impact their donation is making on the cause and society. Today, crowd funding platforms such as Kickstarter and Indiegogo are major tools in raising money for positive causes. For example, Brandon Staton who created Humans of New York started an Indiegogo for a young boy who dreamed of going to cowboy camp. The charity was fast and impactful as it only took Staton 24 hours to raise a sufficient amount of funds needed to send him to the camp of his dreams.
Charities have become more poignant thanks to the hands-on millennial generation. TOMS Shoes has incorporated charity giving into the core of their brand and marketing strategy. For every pair of TOMS Shoes you buy, the company donates a pair of new shoes to someone in need. The emotional impact that is attached to buying their products has created a spike in the popularity of the brand as consumers are seeking small ways to make meaningful contributions that’ll better another person’s life.
Now consumers are looking for opportunities to donate within their loyalty program. In fact, a recent study found that 33% of people enjoy having the option of donating reward points or items to charities through their program. Giving back is a rewarding experience and just as loyalty programs work in making consumers feel they are part of something important, offering them the chance to convert program points to donation dollars allows them to redeem in a meaningful way.
Loyalty program providers, such as Rymax Marketing Services accommodate members with the option of redeeming for a CharityChoice Gift-Card, transforming earned points into charitable dollars. CharityChoice began in 2004 when board member, Mark Finkel wanted to make a charity donation in memory of a business associate’s father, but did not know what cause was important to the family. He decided on creating a system that gave people the opportunity to donate gift-cards, where the end receiver had the option to donate to a charity of their choice. By redeeming points for a CharityChoice gift-card, loyalty program members can choose from over 250 major charities such as Wounded Warrior Project and St. Jude’s Children’s Research Hospital to donate to.
The philanthropist movement is on the rise and it is important that your loyalty program stays on the same path. As the desire to make a global influence continues to grow, offering the option to transform points into charitable dollars will not only feel satisfying, but will also express how your company values good deeds. Forming this connection builds a foundation of appreciation, trust and loyalty as consumer’s value emotional and positive attributes from corporations who work to make our world a better place. To learn more about Rymax’s loyalty programs, as well as our full-list of charities through CharityChoice, contact Rymax today!