Tag: Altruism

Altruistic Business Charity – Personal Experience

Altruistic Business Charity – Personal Experience

A few years when I was a part owner in a company. I was asked by a friend to contribute to the YMCA scholarship fund. I realized that my company had done nothing in the form of charity in the last 3 years of its existence. I consulted the other owners and we decided to give $250 to the scholarship fund.

After we gave the donation I immediately updated the web site to show that Keystone Materials Testing proudly supports the YMCA scholarship fund. I believe that contribution was given in 2010, and it’s still on the web site. Most people probably think we support the fund annually, but we haven’t given any more money to it since 2010.

The point is that we really weren’t concerned about the scholarship, but about our corporate image. Perhaps that is why I’m so skeptical of other companies being aultruistic.

Altruism in Advertising?

Altruism in Advertising?

A great truth in advertising example that rings a bell is the Domino’s Pizza campaign a few years ago. Dominos came out and said that their pizza sucked. They went out to see what would happen if they were honest to the viewing public. They didn’t just say the pizza sucked, but also said they’re coming out with a new recipe that is much better. The public responded very positively to the news, with sales increasing by 15% within a few months.

I first read about this phenomenon in Fortune, as they reported the stock price more than doubled within a year after the truth in advertising campaign began. I think it’s a great case study in how truth in advertising can work.