Proof that we’re “hard-wired for goodness” as thousands of UK consumers donate hard earned loyalty points and rewards to over 1,300 charities
For Good Causes, the fin-tech founded to transform the charity donation market place by creating new ways to give, today announced plans to scale as brands with more than 25m loyalty members are set to join up by Q1, 2020, following its successful UK pilot.
For Good Causes is the only platform in the world that enables consumers from multiple loyalty schemes and reward programs to donate their reward value to a charity of their choice, with consumers able to choose from more than 14,000 already on the platform.
Over three quarters of the UK population (77%) are signed up to at least one loyalty provider and the overwhelming majority of loyalty members (91%) state they actively collect and redeem the points and rewards they earn.
But despite our love affair with loyalty, there are still more than £7 billion of unused loyalty points and rewards in the UK today. Tapping into these funds, as well as the broader marketing and incentives funds brands use to drive new customer acquisition and activation, represents an amazing opportunity for businesses and consumers to unite and drive social change. It can also put a brand’s CSR strategy right into the hands of their most loyal and engaged customers and employees. A powerful and inspired move in an age when consumers expect value and personalisation and reward purpose-driven brands.
Since its launch in 2018 For Good Causes has worked to deploy its platform and propositions so they can be utilised at scale.
Today’s announcement confirms it has now successfully:
- Developed an FCA compliant platform to support its own products and services and created APIs to enable third parties to leverage its capabilities.
- Proved that major brands are receptive to enabling their consumers to donate loyalty rewards to the charities of their choice
- Proved that consumers do take up that offer, with consumers donating loyalty rewards to more than 1,300 charities through the For Good Causes platform.
- Enabled 14,000 charities; from the most well-known national charities through to regional, local and small charities, each playing a vital role in the community.
- Demonstrated the importance of placing the consumers “charity of choice” at the heart of the service
“Unlocking the £7bn of loyalty value and recycling it, to do good, is the “hero” of our story, because it will empower more people, more often to make a difference. And it creates a brand new income stream for UK charities”
said Crispin Rogers, CEO, For Good Causes
Vodafone is one of the brands leading that recycling charge and Empowering Generosity™. Thousands of its consumers have donated rewards this year with points being converted to an average charity donation of £6.49.
In August alone Vodafone consumers donated their points to over 850 different charities including national charities like Cancer Research UK, Guide Dogs, Alzheimers Research UK, NSPCC and Help for Heroes as well as a huge array of local hospices, regional animal sanctuaries and children’s playgroups up and down the country.
“Empowering consumers to support causes they love – ones that align with their personal values and beliefs – can create strong emotional engagement and brand advocacy. Whether they choose to support medical research, animal rescue or they’re keen to donate to a local cause or to a charity addressing one of the UN Sustainable Development Goals (SDGs), we want to enable that choice.” said Rogers
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Daily Telegraph 6th October 2015