Most agencies and brands know by now that consumers today want to buy products from companies that give back and show their support for nonprofit organizations. After collecting some of its own proprietary data, Y&R came to this realization and today launched Y&R Inspire Change–a division of the company that will focus on clients and causes that make the world a better place.
“Since Y&R opened its doors, we have been helping organizations advance social causes,” David Sable, global CEO of Y&R, said in a statement. “Our new practice deepens our commitment to social causes and using our unique set of tools and understanding of the new generation of consumers and donors [we can] help nonprofits and corporations drive social change in a way that seamlessly bridges the online and physical worlds.”
Shelley Diamond, chief client officer for Y&R, will head up the new division. Currently, Y&R Inspire Change’s two big clients are UNCF and the Special Olympics.
So why did Y&R launch this new initiative now?
According to data collected by Y&R through brand database and management tool BAV, along with IBM’s Watson Analytics tool, the agency landed on a number of insights that spurred the launch of this new division. Not only are there “underdeveloped nonprofits in the space,” but many “well-established nonprofits risk fatigue,” according to Y&R’s research.
The agency also found that “purposeful brands are stronger than nonprofits overall,” leaving a big area of opportunity for an agency like Y&R to step in and offer its services to help spur more donations, especially among the millennial generation.
According to Y&R, if half of the millennial population donated $100 to a nonprofit, the social good ecosystem would grow by $7.5 billion in just one year.