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How can generosity improve your marketing results and impact your business bottom line?
Martin Barrett
Most generous companies are not rewarded in the marketplace for their philanthropy. In today’s episode, Martin Barrett, co-founder of The Generosity Agency, Sozo Gifts, World Changers and The Hunt For Charity explains why this is, how it relates to marketing and overall business results, and what to do about it.
Using The Generosity Agency platform, businesses large and small are now able to engage their customer base in shared generosity initiatives that reward customers, maximize customer loyalty, and incentivize greater generosity.
The end result?
Charities gain the financial support they need, customers feel good about the contribution they are making to causes they believe in, and businesses gain the customer’s loyalty and improve their ROI while increasing their generosity.
Martin Barrett and The Generosity Agency currently partner with dozens of businesses including Mercedes Benz, Jaguar, Lexus, Guild Mortgage, Fairway Mortgage, and countless other Real Estate, Mortgage and Manufacturing businesses. Listen as he shares how you can reap the benefits of shared generosity in your business and community.
Key Takeaways
- Businesses are not rewarded for their generosity because they fail to acknowledge the customer as the source of their generosity.
- Last year American companies spent close to $200 billion dollars in advertising. They gave away close to $20 billion dollars.
- Companies could give money away and have it generate a better return than advertising, during certain times in the customer lifecycle.
- We are wired to be generous because we get deep satisfaction from generosity.
- Advertising works with dopamine whereas generosity works with cytosine.
- Because of the way cytosine affects the brain, whenever we have a shared experience of generosity, we are hardwired to trust the people we shared it with more. It is impossible to create that trust and loyalty with dopamine.
- Don’t spend more money on advertising; give the money away through your customers and gain a better return.
- There is a time to tell your customer about your product. Unfortunately, that’s often all companies want to talk about.
- Customers want to be about something bigger than the thing they purchased; to know that what they are doing is impacting others in a positive way.
- The biggest challenge for any company is to get out of their ‘me’ centeredness. The Generosity Agency gives them a reason to stay in contact with customers, without always trying to sell them something.
Connect With Martin Barrett
- The Generosity Agency: https://www.generosity.agency
- LinkedIn: https://www.linkedin.com/in/martin-barrett-84327014
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