GoodTech — Unlocking Shared Value
New Platforms Make It Easier to Support Causes You Care About
Behold the rise of the aspirational consumer. This shopper transcends multiple demographic groups representing up to 40% of global consumers that seek to support brands that exist beyond product and emotional benefits and actually have a positive impact on the world. The problem is, most of these consumers couldn’t name a single brand that fit this mold that they felt good about buying from, according to a recent study of 21,000 consumers by BBMG and GlobeScan. What a stellar opportunity for brands to cut through the noise and connect with these shoppers, especially since most brands are already doing some kind of good in the first place! By bridging this awareness and engagement gap with consumers, brands could create better ROI from their good efforts and in turn do more good, a truly virtuous cycle.
GoodTech, technology platforms designed to efficiently connect causes and consumers that care about them, are rapidly helping to harness the desire of aspirational consumers and direct it to measurable impact for brands. The tech stacks run the gamut from petition communities, like Care2, to integrated shopping models such as Amazon Smile and even crowd-sourced model like dosomething.org. The convergence of social networks and digital technology is enabling consumers to engage and support causes they care about in ways that not only are personally fulfilling, but also highly appealing to their friends and family. Using GoodTech to help manage and amplify this process will help create greater support for causes by creating greater impact and ultimately greater ROI. And not just for the brand, but for everyone involved, especially the consumer!
GoodTech Anchor Platform
At GoodXChange, we’re building a robust GoodTech platform to help purpose driven consumers take simple actions for causes they care about and, in doing so, unlock brand funding. By creating simple linkages, we can help build true shared value for all parties. Consumers get to act on their passions, causes get needed financial support and brands get engagement that increases brand warmth. Our combination of technologies makes it easier than ever to bridge cause awareness gaps and deliver measurable impact. The core of our technology is a web/mobile application called GoodXChange. The platform enables the GoodX community to take part in ongoing “Good Exchanges,” but more importantly to stay connected to a broader group of like-minded individuals supporting causes of all kinds. This anchor platform operates on a distributed model connecting seamlessly to all social and digital channels so purpose driven consumers connect when and where they want vs. driving them exclusively through GoodX channels, reflecting how people actually use digital channels today.
GoodTech Community Technology
Bridging the GoodXChange application to a much broader purpose driven audience is a the amazing advocacy technology VoiceStorm from Dynamic Signal.
Advocacy is at the heart of Good Marketing (marketing that creates shared value)
VoiceStorm helps to build advocacy through the voices of our community and provides instant feedback on its effectiveness and ongoing data on long term engagement. Advocacy technology is critical to harness the collective footprint of our community. A litany of studies show that employees and partners have a significant impact on overall social media results as in this example from IBM.
Stories have become the engagement drivers of content marketing and storytelling platforms are on the rise. Digital storytelling offers many new dimensions to how stories are sold and consumed. Stories can now easily be created using mixed media and no longer need to be linear but rather let the user decide how to engage and share. We’ve integrated two stellar storytelling platforms, Fabl and Verse, that help to tell rich stories of brands and causes like this Fabl example for Mission Athlete’s M Awards that recognize high school athletes that are doing good in their community. Story technology helps bring together content from our community and partners in a portable format that travels across channels.
Evaluating Cause Related Brand Warmth
Perhaps the most important element of GoodX is our growing capability to measure good-related brand warmth. Based on the work of Chris Malone, the renowned author of The Human Brand, we’re building a comprehensive measurement system for evaluating the contribution of cause marketing to overall Brand Warmth. In doing so, our goal is to demonstrate empirically the impact of cause marketing efforts in order to help brands better evaluate how those endeavors stack up to and impact other marketing mix investments. The GoodX Brand Warmth Index helps create a baseline and also identifies key drivers of cause-related Brand Warmth. We leverage Brand Warmth insights to build greater levels of awareness and engagement for brands and causes and ultimately to drive value for consumers.
Brands spend about 1% of their total marketing budget on Good Marketing, though many CEOs don’t believe that these efforts add economic value to the enterprise. Imagine what would happen if we could help make cause marketing the most valuable part of the marketing mix and move that to just 2% via GoodTech. We could literally change the world.