Our goal is to create sustainable social impact
The Good Karma Social Impact Charter
Our social impact is broad, however, we place particular emphasis in three specific areas.
First, solutions that address the root causes and destructive problems that are associated with long term unemployment.
Second, the education and promotion of innovative, sustainable solutions that will in the next decade help society address the threat of climate change.
Third, the support and expertise that we can provide to support local non-profit organisations to help them grow their community impact.
To address these issues we believe it is essential to accelerate the role that purposeful business can play. In a very practical sense working with our social enterprise converts budgeted BAU marketing spend into measurable social impact. However, the best outcome will be a planned transformation that businesses can make to new, more socially aware ways of working. This will raise awareness, and therefore engagement, and will deliver sustainable solutions in the long term for all stakeholders. We include in this employees, investors, shareholders and customers.
We believe in the concept of growing the pie that is so eloquently described in the book 'Grow the Pie' by Professor Alex Edmans of the London Business School (published 2020).
As a Social Enterprise registered with SEUK, Good Karma Media is committed to redirecting the majority of our profits to bring about social change for the benefit of people and our planet.
As well as directly supporting good causes we play our part by leveraging our expertise in social value creation, conscious business practice (including helping to encourage best practice in diversity and inclusion) and by delivering what we term 'social impact marketing.' The latter enables us to tell our clients' great stories to further fuel growth and engagement in the core principle of social value.
Our impact can manifest in a number of ways - some in flow and some planned.
We currently deliver free, fully funded services through our 'Chain Reaction' product designed specifically for very early stage non-profits or for companies that are aligned specifically with our focus areas.
We plan to launch a second initiative in Summer 2021, our 'Kindred Spirit Programme', which will offer syndicated channel marketing that is part subsidised from our profits. This will be available to deserving, innovative charities and impact projects for whom this is currently unaffordable.
Both Chain Reaction and Kindred Spirit help to accelerate the social value sector with crucial traction and are targeted to help social entrepreneurs thrive and grow their impact in our core focus areas.
We also redirect a portion of profits to local causes. In 2021 and 2022 we will continue to support a number of local non-profit initiatives that are aligned with our mission. For example we will be working with a local food bank in Surrey during a period of change to ensure that they continue to attract great support and are able to address a growing community need.
As work with our clients scales we look to find ways we can directly support aligned impact projects for our clients through partnership and BAU. Typically we commit the equivalent of 10% of our paid-for time in support of our existing programmes or, if preferred, to a client-aligned non-profit project.
In the future our ambition is to provide a fully funded agency-within-an-agency that is 100% focussed on the provision of marketing services for the exclusive benefit of the social enterprise and non-profit sector. Our hope is that this initiative will help accelerate the performance of these invaluable sectors which are often underfunded and overlooked by traditional investors.
Our commitment to supporting great social projects delivers practical and measurable impact which further adds to our client’s social narrative. But most importantly we help change lives through the active partnerships that we foster.
We believe our approach grows the pie for all stakeholders. For us this is mission critical if we want to make 'social value through business' a truly sustainable and beneficial reality that we hope will become a blueprint for the future of all business.
“Thank you yet again for an absolutely amazing piece of work. It was very detailed, relevant and will help us update our employment services. We will also use it in our funding applications. This is exactly what we needed. You Guys are brilliant! Not only your personalities - great sense of humour, helpful and professional - but a real focus on supporting us to achieve something meaningful.”
Maggie Sikora, CEO, Mapis CIC
“Those who just want to make money are going to be looked down upon. Businesses will have to deliver impact and have to show impact integrity, just as they have to show financial Integrity, if they are to succeed.”
Sir Ronald Cohen, ‘Father of Venture Capital’
August 2020