UK FinTech company For Good Causes is expanding beyond the loyalty sector, having already enabled consumers to donate their loyalty points, cash back and air miles to over 20,000 charities.
“Brands empowering their consumers to donate to a cause they love can expect to create greater emotional engagement and loyalty as they tap into something their consumers already care about – their charity of choice,” said Wendy Martin, CMO at For Good Causes. “Emotional connection translates into a better share of consumer spending, with customers typically spending twice as much with brands they are loyal to and having a 300% higher lifetime value, according to data from Motista. Right now we are seeing a surge in community spirit with consumers and brands keen to support societal, environmental and community activity more than ever.”
Steve Wilks, COO at For Good Causes, added, “For Good Causes is continually innovating to find new ways to give that can create benefits for all parties in our ecosystem. Our decision to expand beyond the £7bn of unused loyalty points, cash back and air miles into the £3.5bn B2B gift card market by launching the UK’s first universal charity gift card is already proving to be a positive move, with our clients now engaging customers across the entire customer lifecycle and enabling them to donate to any of the 20,000 charities already live on our platform.”
To support its entrance into the reward and incentive market, For Good Causes has joined the UK industry body the Institute of Promotional Marketing (IPM).
“The demand for a charity option is increasingly prevalent in the briefs our members see from brands,” said Andrew Rae, Managing Director at IPM. “We are delighted to have For Good Causes join the IPM and work with our members to offer a new reward option that delivers societal and environmental benefits.”
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