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Sunday, February 25, 2024
CEOWORLD magazine - Latest - Special Reports - REACH NEW AUDIENCES FOR PURPOSE AND PROFIT

Special Reports

REACH NEW AUDIENCES FOR PURPOSE AND PROFIT

Paul M. Katz

First the bad news . . . 

What Beatles song is a clue to the average age of  US donors? Their average age is 64. You know the song. Neither non-profits nor a substantial number of businesses are able to reach younger desired audiences.

Did you know, per a McKinsey study during Covid, that brand loyalty for Gen Z and higher earners of any age went by the wayside? It’s now a free-for-all to try and attract these highly prized audiences that are difficult to reach. GenZ has an attuned bull s***t radar and quite literally will not be sold a bill of goods through advertising. Instead, they react best to social media creators, since basically, they trust authentic Influencers.

To make matters worse, a study by Cone Communications shows that the majority of Millennials, who will make up 75% of the workforce by 2025, won’t buy from or work for a company that doesn’t do good in the world. 

Now the good news . . . 

There is a genuine and creditable way for your organization to reach your desired audiences if you engage influencers for purpose and profit.  By utilizing the “Influencer Effect.” The Influencer Effect is the exponential impact of an Influencer throwing their popularity, social capital, and platform behind a particular cause or brand. Both psychological and social, the Influencer Effect causes the intended audience to mimic the actions or recommendations of the Influencer. An Influencer is a well‑known person who influences desired audiences in a culturally appropriate way for you, your organization, and stakeholders.

Any organization irrespective of size, products, programs or location can benefit  from the Influencer  Effect to raise awareness, support and revenues, inspire action, and grow programs. You just need the confidence and knowledge to start and this can be found via the 5 step DREAM method honed over two decades and 100+ marketing campaigns.  The DREAM method in my book, GOOD INFLUENCE: How To Engage Influencers For Purpose And Profit, will show you strategically, practically and economically how to create an action plan, research influencers, engage them, undertake activations, and measure the results.

Of course, any business can pay to engage Influencers for a campaign and research shows stock price and revenues go up when the right Influencer is attached to the right product. Take Air Jordan and Nike as a prime example.  A particularly powerful way of benefiting from the Influencer Effect is by entering into a Multi-Pact consisting of a business, nonprofit and Influencer. This potent combination unleashes a supernova Influencer Effect that amplifies commercial and social impact to the Nth degree. 

One of the most effective Multi‑Pacts to date has been “Pour It Forward,” which brought together Stella Artois, actor Matt Damon, and the nonprofit he co‑founded, Water.org. The campaign raised approximately $8 million for Water.org, provided clean drinking water to 3 million people, and per Stella Artois’s head of marketing, made the brand  more culturally relevant to young people.” He said, “That’sbeen reflected not just in rising sales but in our brand equity as well.” Multi‑Pacts are a win‑win‑win.

The Influencer Effect is a powerful yet easy marketing and advocacy phenomena to attract and engage desired audiences, grow businesses, and have social impact. All at a low cost and with comparatively less bandwidth. As Lsa Tso said, “The journey of 1,000 miles starts with one step.”


Written by Paul M. Katz.
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CEOWORLD magazine - Latest - Special Reports - REACH NEW AUDIENCES FOR PURPOSE AND PROFIT
Paul M. Katz
Paul M. Katz, author of GOOD INFLUENCE, s a veteran music industry executive, multi- Grammy nominee, and thought leader in the cause influence field who has guided nonprofits, companies, high-profile artists and other influencers in driving meaningful social impact campaigns for more than two decades.

As CEO and founder of social impact agency Entertain Impact, Katz's marketing and advocacy campaigns have raised awareness, support, and funds for philanthropic, social justice, and purpose-driven organizations over the past two decades—including the African Wildlife Foundation, Bill & Melinda Gates Foundation, National Trust For Historic Preservation, Rotary International, ELMA Philanthropies, and WHO Foundation. These campaigns have been supported by hundreds of influencers, including Kevin Bacon, Ziggy Marley, Angélique Kidjo, John Legend, Lupita Nyong'o, Mark Ruffalo, Annie Leibovitz, Usher, and Desmond Tutu.


Paul M. Katz is an opinion columnist for the CEOWORLD magazine. Connect with him through LinkedIn. For more information, visit the author’s website CLICK HERE.