Cause Marketing involves a cooperative effort between a business and a non-profit organization—ultimately for the mutual benefit of both. It is executed in various forms (i.e. a sponsorship of a fundraising event, a co-branded product, or a percent of sales or profits donated to the charity...just to name a few).
Why does it work so well (aside from the obvious good feelings that come from supporting a good cause)? We looked to the 2007 Cone Cause Evolution Survey of American buyers for answers:
- 83% say companies should support causes
- 92% acknowledge they have a more positive image of a company that supports a cause they care about
- 87% are likely to switch from one brand to another (price and quality being equal) if the other brand is associated with a good cause
So, with statistics like these it is easy to see why you should include cause marketing in the mix...but now the question is...HOW? Here are the three elements to consider in your Cause Marketing Plan:
- Identify a cause that matters to YOUR AUDIENCE.
The most important element to a successful cause marketing campaign is to choose a charity/cause that truly matters to your target market. Health, education, and environment are the top three causes consumers care about, so choose the one that will have the most impact for your audience.
- Make it matter to YOU. What is relevant to your audience is very important, but you also need to balance the audience concerns with what really fits with your business and your company values. For cause marketing to work, it needs to be credible. To be credible, it needs to come across as a real passion. The best way to do that is to make sure the cause fits with your company's culture. Doing so will also help with employee recruiting and retention. 72% of those surveyed wish their employers would support a cause or social issue and 89% of those employees familiar with their company's cause programs feel a strong sense of loyalty to their company.
- Promote it EVERYWHERE. Don't be shy about promoting your "do good" work. Make sure all of your customers know about your promotion and integrate it through all of your promotions. This is a mutual partnership, so make sure the non-profit you choose will be willing to promote the campaign too. Remember, cause marketing is for the MUTUAL benefit of the business and the non-profit.
Cause marketing is a great way to build positive brand awareness, customer loyalty, employee pride, and more. So, consider a good CAUSE as you develop your marketing plan—it's a good thing in more ways than ONE.
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