Today, even the smallest businesses can capitalize on the power of digital platforms to better understand their customers’ needs and behaviors, engage with them more effectively, and provide customized offerings. But many of today’s consumers want more. A 2015 Nielsen Global Sustainability Reportfound that 43% of consumers say that a company’s commitment to social value “very heavily” or “heavily” influenced their purchase decisions. And according to a Cone Communications/Ebiquity survey from the same year, 90% of global consumers would switch brands to one that is associated with a good cause, provided price and quality are equal.
Social purpose is continuing to evolve from a philanthropic niche to a key part of core business strategy, and this shift presents unique opportunities for technology companies, in particular. The next wave of technology innovation will require a paradigm shift — one that builds social purpose into the activities of our everyday lives.
Technology innovators have the opportunity to move beyond transactional exchanges with customers to engage people as partners with a shared sense of purpose and values. Consider Airbnb, the online marketplace for people to list, discover and book lodging. The company was built on the belief that people can trust each other enough to stay in each other’s homes. The success of this model has showed us that sharing helps foster community and connection, instead of isolation and separation — and it’s enabling a whole new wave of entrepreneurship and income-earning opportunity all around the world. As Airbnb continues to grow and reach new heights as a business, purpose and sharing continue to inspire and connect its global community.
