Warm Glow of Giving
Today, I learnt a new phrase - “warm glow of giving”. As a marketer working for my alma mater and being part of their fundraising team, I thought this was a beautiful term. It encompasses everything good about the act of giving. “Warm” and “glowing” and “giving”. But as has always been the case with my alma mater, we were (and still are) expected/taught to dig deeper into any topic. And so, dig deep I did.
Did you know that the phrase “warm glow of giving” apart from sounding oh-so-poetic and philosophical, is an actual economic theory to describe the emotional reward of the act of giving. Coined by renowned economist, James Andreoni, this theory talks about the happiness we derive from an act of unselfish giving.
What more, psychologists and behavioural scientists say that while people can easily adapt or get used to a repeated “act of getting”, the same is not the case with a repeated “act of giving”. For example, winning an award (cash or otherwise) thrills us once. Get it repeatedly, the novelty wears off, thus diminishing the happiness one derives out of it. However, the same is not true with the “act of giving”. The emotional high or happiness one gets from such an act doesn’t diminish!
That the “Joy of Giving” > “Joy of Getting” is an actual topic of research, was a pleasant surprise to me. Of course, this is an up and coming topic of research, so there’s still much more to be unraveled.
As a marketer delving into the world of fundraising and philanthropy, I am constantly having to unlearn tried and tested concepts in marketing in this field. In my earlier stints as a marketer, it was easy to market and sell a product to a consumer. All I had to do was wax eloquently about the benefits of the product to the user, design some cool creatives, run targeted campaigns, drive social media engagement…and the results aka revenue would start flowing in. All I had to do was tap into the “what’s in it for me” factor about the product for the user. That’s marketing 101.
But, how does this work in a not-for-profit environment? What is the “what’s in it for them” here? What could I possibly say to the CEO of a flourishing startup to urge them to donate some of their hard earned money for a scholarship fund at their alma mater. What is the story or messaging that I will have to craft? How will a beautifully designed infographic about a research project inspire someone to donate? Why would a director in an MNC fund students’ research projects? And most importantly, again…what’s actually in it for them?
But the more I interact with the alumni community (my target audience), the more I read about the impacts of their giving, more closely I work with my current colleagues, I am slowly but steadily convinced that philanthropy is more than just an act of making a donation.
It is more than that cheque an alumni donor transfers to a scholarship fund. Rather, it is standing strong in support of a kid’s dreams of higher education and a brighter future. When a donor contributes to fund an up and coming student research project, they lend a helping hand in actual nation building. The biggest of scientific and technological breakthroughs have had humble beginnings in laboratories of a passionate research student.
They give not because they “have” but because they “care”. The “Warm Glow of Giving” keeps them going. Probably, this is my messaging for my target audience. That the actual “joy of getting” is in the “joy of giving”. True to its etymological origin, the word “philanthropy” doesn’t just refer to making a donation. Philanthropy = Phil (loving) + Anthropos (humankind). It is the manifestation of kindness, compassion, and the deep-rooted empathy within each of us. It is the very essence of being human.
