According to Forbes, Millennials prefer to do business with corporations that have pro-social messages, sustainable manufacturing methods and ethical business standards. (Forbes)
Okay, so how are millennials deciding which companies are socially responsible when making their purchasing decisions? A 2015 Nielson Global Corporate Sustainability Report indicates that 73% of surveyed millennials spend more for products that come from a sustainable brand. The survey also indicated that millennials do not just like to do business with companies demonstrating corporate citizenship – 81% expect it.
Millennials seek modern brands who are open and communicative about their operations and their company philosophy and goals for seeking incremental, positive social change. Millennials want to do business with companies who invest in improving society, improving energy conservation and resolving social problems.
Some companies adopt significant strategic efforts to demonstrate their good works and provide opportunities for their customer to participate and give back. These corporate social responsibility efforts include things like construction of schools and housing in third world countries, hiring returning veterans, or increasing funding in energy conservation.
Demonstrating that your company cares about society and the environment; that you practice corporate responsibility does not have to revolve around a huge project. Demonstrating that you are committed to making a positive impact on the world around you can be as simple as embarking on an energy conservation initiative to lower energy consumption and increase your company’s efficiency and sustainability.
The Nielson Survey indicates environment-friendly companies have a 13% higher response from millennials and that 58% of millennial consumers will pay more for products purchased from environmentally friendly companies. According to Forbes, Millennials prefer to do business with corporations that have pro-social messages, sustainable manufacturing methods and ethical business standards. (Nielson)
Think about it……
-If you add an energy management system you save money on your energy costs.
-An energy conservation system also helps the environment.
-Your energy conservation efforts will attract 13% more millennials to your company offerings and 58% of them will pay you more money just for being socially responsible.
-You may also be eligible for rebates or incentives so that you can get started helping the environment with less out of pocket costs.
Sounds like a win-win.