Research and Co-Branding Makes for Smart Marketing and Philanthropy
Did you see that CVS Health recently announced a $100 million dollar pledge to support healthier communities? They are using a nationwide report to help identify key issues and communities in need.
As part of their recent acquisition of Aetna, CVS will continue to support the expansion of the Healthiest Communities report rankings; which has been brought about as a partnership effort between the Aetna Foundation and U.S. News & World Report.
The Healthiest Communities report was first released in 2018 with a goal of evaluating the health of nearly 3,000 communities nationwide across ten categories, in part to identify the communities in most need. Some of the factors considered included parameters like education, population, health, infrastructure, as well as, the economy. With a focus of improving the health of the United State's most affected communities, the report allows data to drive philanthropic discussions and business decisions related to areas of need and ROI.
This announcement is both philanthropic and strategic for CVS.
How they did they do it? It's really straightforward.
There are two key takeaways that, if executed correctly, can be used by a variety of companies while also having lasting effects and maximize social impact:
Utilizing data or research that highlights the importance of your issue and allows your organization to weigh in on your perspective relative to the issue
Co-branding with a strategic corporate partner who is an expert in the issue
Another example of utilizing data and co-branding comes to us from McDonald's.
People love a morning cup of Joe.
When the McDonald's team realized that more folks were using their conveniently located drive-thrus to pick up a morning coffee, they focused even more on that high-growth segment of the business.
Sustainably sourced coffee was becoming a real issue in the coffee industry, as such McDonald's commissioned a sustainability report to demonstrate their commitment to keeping those McCafe's coming for years to come. The report both detailed their efforts to purchase sustainably sourced coffee (a 63% increase since 2012) and outlined specific elements of their plan like vetting growers stringently and partnering with Conservation International, an external organization that gives credence to their efforts.
These are just two ways - as shown by CVS and McDonald's - of creating a lasting philanthropic corporate impact.
Cabanas Consulting would love to help your company or non-profit tackle business challenges with the development of strategic philanthropic partnerships. To dig deeper into this corporate philanthropic approach and others that may work for your organization, give us a call.