Wednesday, June 28, 2006

1% for the Tetons - Niche Marketing Works

You may have heardOne Percent for the Tetons - Support the Tetons of 1% For The Planet, an organization launched in 2001 by Yvon Chouinard (founder of Patagonia) and Craig Mathews (owner of Blue Ribbon Flies) . I too had heard of it but wrapping your hands around the entire planet can seem a little daunting, being such a big place and all. But the Tetons, now there's something a lot more tangible and relatable. In fact I'm headed there this summer on 3 separate climbing trips. I love the Tetons. (I love the planet too, just in case you were wondering)

1% for the Tetons is a new fundraising program for supporting Jackson Hole'’s long-term sustainability. Member businesses contribute one percent of their annual revenues to 1% for the Tetons. These tax-deductible contributions fund competitive grants for projects focusing on sustaining Jackson Hole'’s extraordinary natural resources and related essential qualities.

1% for the Tetons was launched on Thursday, June 8, at a kick-off event in Jackson, Wyoming. Yvon and Craig were present at the kick-off as key note speakers.
"“My business is over 20 years old," said Mathews, "and nationwide, the fly-fishing business has been stagnant for years. But since we launched 1% For The Planet five years ago, my revenues have tripled. That's unheard of. People from around the country go out of their way to buy gear from me, because they know by doing business with me, they're giving back to the planet."”

Mathews continued: "“One percent is a lot of money, and the hardest thing you'll ever do in business is writing that first one percent check. But it gets easier each year, and by the third or fourth year, you can't wait to write it. Why? Because it's the right thing to do for your business, your community, and your world."
The Numbers Don't Lie

Following the launch event an additional 8 businesses signed up, bringing the total to 32. This will gross perhaps $20 million in the next year, putting the initial granting pool around $200,000.

To put the 32 businesses figure in context, in one fell swoop the worldwide membership of 1% for the Planet increased by 10%.(Since member of 1% for the Tetons are part of the 1% For The Planet too) To put that $200,000 in context, the Community Foundation of Jackson anually makes around $250,000 in general grants.

There are also another 8 Jaskcon area businesses that had already joined 1% For The Planet, giving Jackson a grand total of 40 "one-percenters". That puts this little niche of the planet around 11% of all the 1% For The Planet members in the world. It also gives little old Jackson Hole more member businesses than any state except California, or any foreign country.

I've love to see Jackson trump California - although doesn't half of California currently live in Jackson? (the other half lives in Park City)

1 comments

1 Comments:

Anonymous Anonymous said...

Nice success story. Heartening to read it.

10/15/2006 5:08 AM

 

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