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18 September 2020
The Royal Australian Mint have unveiled the ‘Donation Dollar’: a special coin designed to be given away to charities and individuals in need. The coin, which is a legal tender, has a green center with a gold ripple design to symbolize the ongoing, positive impact that a donation can make. Around 25 million of the coins will be produced (roughly one for every Australian) over the next few years, with people encouraged to donate the coin to a good cause. The coin was launched in September to coincide with the International Day of Charity.
In a survey conducted by the Royal Australian Mint, 57% of Australians said they would be likely to donate the coin if they found it in their change. Sometimes a small nudge is all that’s needed to encourage ‘good’ behavior. Is there any downtime in the customer journey when your consumers would be open to a reminder to be better, support a cause or take actions that are aligned with your brand values? It could be embedded into the packaging of your product, at the checkout or even hidden in a label.
Over the past few months, the definition of charity has expanded. Whilst many traditional charities are facing a funding shortfall, many individuals are still giving generously, but they’re giving in different, more community-focused ways: ordering takeout from local restaurants, purchasing a gift card from a boutique or continuing to pay for services (like cleaning). So if you’re thinking about creating a CSR-related campaign, consider this new and expanded definition of generosity. What can you learn from the way people themselves have rallied around a cause, and how can you support this new eco-system?
Finally: a word of warning. Consumers worried about the economic impact of the pandemic won’t appreciate brands that ask them to give back without making the same commitments themselves. The ‘practice what you preach’ adage is timeless, but it’s particularly pertinent for brands that want to highlight their purposeful values over the coming months!
The TrendWatching content team