Jan 28, 2020
4 min read

Philantrophy: A Business Essential

Digital Go-to-Market Lead, One Commercial Partner

It’s no longer enough for businesses to sell a superior product or service.

In today’s hyperconnected world, you must also possess a spirit of goodwill to others. Consider the impact you and your business have on the world and how you can do good by others.

Consumers expect the companies they associate with to care about the communities they do business in. Call it what you want — philanthropy, altruism, social responsibility, cause marketing — but one word resonates above all else: necessity. You must give back to gain allegiance from customers (and loyalty from employees) in 2020 and beyond.

Consider this: 70% of Millennials gladly spend more money on brands that give to good causes, as companies that align with their values and their hearts are more attractive than less-philanthropic competitors. That same demographic is much more likely to want to work for companies that prioritize cultures of giving back.

In short, it’s all about the social mission. And it’s officially mission critical.

Start spreading the news

The options for giving back are limited only by a company’s collective imagination. Sponsoring community events and giving to local charities puts your name out there, leading to more customers discovering who you are and feeling good about spending money with you.

The benefits extend internally as well, as altruistic efforts have been shown to improve employee morale and increase emotional attachment to the company.

To promote your philanthropic efforts, not much moves the needle as effectively as a good story; Telling powerful customer stories is an important and effective marketing tool, and our incredible network of Microsoft partners has plenty of inspiring tales to tell.

These anecdotes pull at heartstrings and show future customers that you are here to help them succeed, and when you align with customers that are doing good and then go the extra step to boost their story, you’re not only helping them through sharing their truth — you’re also highlighting that you associate with like-minded companies that are also doing good in the world. t’s the proverbial win-win!

Align your altruistic efforts

How has your company helped boost another business? If the answer is “well, we haven’t,” we’re here to help you get started.

As you may or may not know, Microsoft gives back through philanthropic efforts. The mission for this nonprofit sector of our corporation is “working to create a future where every person has the skills, knowledge, and opportunity to achieve more.”

For instance, Microsoft has an amazing partnership with Team Rubicon which is an international disaster-response nonprofit that uses military veterans and first responders to provide relief to communities in need.

We also partner with schools to help increase education and encourage younger generations to get familiar with computer sciences. These are but two of the dozens of causes we’re proud to partner with.

As a multibillion-dollar corporation with tens of thousands of employees, it’s admittedly easier for Microsoft to invest in philanthropic efforts than smaller businesses.

Still, supporting just one small cause can have serious ripple effects. How can your company get involved?