I continue to be amazed and impressed with Ido Leffler and have been since we first met at the Cause Marketing Forum several years ago. Ido’s many companies always start with the “cause” and because of this, consumers, especially Millennials and iGen are engaging with his brands.
My favorite Ido brand is Yoobi because of the focus on schools and Millennial parents. A simple business plan that gives school suplies to underserved schools when Yoobi product are purchased from Target and other retailers. The program recently passed $100 million in retail sales at Target alone. Imagine the schools and teachers he is helping. A true testimate to “doing well by doing good.”
Since TOMS perfected the one-for-one model, I have been a big proponent of businesses leading with their cause and giving back. Even with a host of success stories, old-school marketers just don’t get it.
I have developed solid 1-4-1 business plans for my past companies and clients and continue to me astonished at the lack of understanding and acceptance for this proven and impactful marketing startegy. I will be the first to say “There is NO Mission Without Margian.” Millennials and Generation Z, or iGen wield an astounding $250 Billion annual purchsing power and that will certianly grow as they climb the corporate and entrepreneurial ladder. Younger consumers are using their walets, loyalty and social influence to reward companies like Yoobi and others who lead with mission and cause. These comapanies will be the ones that survive a new generation of consumer!
Marketers attempting to get a piece of that $250 billion need to read up on the 1-4-1 strategy. It is not as simple as just giving something back when someone buys your product. It must be well thought out. It should be relevant to your industry, customers and your employees. It should be developed from the ground floor up and must be blessed and promoted from your CEO down. Lastly and most importantly, it must be transparent and have real and visible social impact.
I highly recommend Ido’s book, “Get Big Fast and Do More Good,” Start Your Business, Make it Huge and Change the World.
If you are still questioning the 1-4-1 model, check out what Target has done with Ido and Yoobi. $100 Million! Target Gets IT! I had the pleasure of developing social impact programs for Target while at Scholastic that supported Literacy Programs in low-income schools. Target is well known for their social impact and has also supported TOMS products, as well.