CHICAGO, Dec. 15, 2010 /PRNewswire/ -- Two new public opinion surveys released today by Do Well Do Good, LLC indicate that consumers demand that companies should engage in cause-marketing and corporate social responsibility programs. Over 88% of consumers think companies should try to achieve their business goals while improving society and then environment and 83% of consumers think companies should support charities and nonprofits with financial donations.
More than just general opinion questions, the surveys outline the extent to which consumers and employees of companies will act on their values. For example, the average American consumer will drive nearly 11 minutes out of their way to buy a cause-marketing product and nearly two-thirds of employees would seriously consider leaving their job if their employer used child labor in sweatshop factories.
Do Well Do Good, LLC president James Epstein-Reeves explains, "It is time to write the obituary on the idea of companies exist merely to return a profit to shareholders. Consumers hold higher expectations of the companies they buy from and work for – profit is important, but so are principles."
Of special note, the survey presents new data on the "price elasticity of cause-marketing products" by outlining the additional amount, or premium, consumers are willing to pay for a product that supports a cause they care about. For example, a majority of consumers are willing to pay an additional $2.12 for a $1 cause-marketing product and whereas for a $50 product consumers are willing to pay an extra $4.53.
The surveys also serve as a "playbook" for companies already engaged in cause-marketing and corporate social responsibility programs. For example, 35% of consumers dislike being asked to donate to charities at the register. Instead companies will have better luck getting consumers to participate in a cause-marketing program if an employee explains why the cause is important or if the company offers matching funds for donations.
"As it relates to corporate social responsibility programs," Epstein-Reeves notes, "Recycling programs and preventing the employment of child labor are basic expectations of consumers." The survey outlines over 17 different social and environmental initiatives consumers expect of "good companies" and companies consumers consider leaders. The Summary Reports are available for free on the company's web site: www.DoWellDoGood.net
James Epstein-Reeves, President
Do Well Do Good
Do Well Do Good, LLC provides programmatic consulting services for corporations and nonprofits. They improve existing programs and they create new initiatives, brands, and engagement activities. Their strength relies in their ability to inspire others to get involved in projects that bring deeper meaning to everyday work.
SOURCE Do Well Do Good, LLC