Cause marketing occurs when a for-profit business works with a non-profit business to help each other. There are many successful cause marketing campaigns in the world.
For example, throughout much of the central United States, 7-11 gives all of its soda fountain refill money to Meals on Wheels while Walmart routinely sells paper balloons and holds other events to benefit the Children’s Miracle Network.
Tom’s Shoes promises to give a pair of shoes to children in poor countries for every pair of shoes that consumers buy from them. In fact, over $2 billion dollars was donated to charities around the globe in 2015.
If you are looking to promote your business, then there are many reasons to consider cause marketing.
Reach a Wider Audience
When merchants participate in cause marketing, they can reach a larger audience. While it can normally be very difficult to get consumers to switch their brand loyalty, 87 percent say they would switch if a company gave money to a cause that they believed in. According to a study conducted by Edelman Good Purpose, 39 percent of consumers would recommend brands supporting good causes to their friends. That is a level of trust building that no amount of advertising is ever going to buy.
Build a Connection
Every business executive knows that it is vital to building a connection with their consumers. Yet, most find this difficult to do. Cause marketing allows you to build that bridge because consumers understand that you are trying to make the world a better place to live.
Additionally, customers say they have a better image of companies that they know are supporting worthwhile causes. One company that does a very good job of this is Avon who routinely sponsors breast cancer awareness campaigns.
Allows Companies to Charge a Premium
According to Nielsen’s Doing Well by Doing Good Survey, over 48 percent of consumers in North America would be willing to pay more for a product if they knew that part of their money was going to support a worthwhile cause. This can be a win-win for both the company who can increase their price and the charity who receives a donation. Starbucks created a program that allows them to help coffee bean growers produce their crops in sustainable ways. Customers are more willing to pay for a cup of coffee that they do not feel guilty drinking.
Raise Company Morale
According to a study conducted by Cone Communications, over 90 percent of employees would rather work at a job where they knew that the company was supporting good causes. Employees who are allowed to work at helping their favorite causes are usually more motivated to get the job done right the first time. Furthermore, these employees are more motivated to stay meaning that companies do not have to pay money to repeatedly train new employees.
Creating Your Campaign
Everyone can benefit from creating cause marketing campaigns. For example, Resale with a Purpose in Tomball, Texas, routinely picks a different charity each month to give a portion of their proceeds. Causes that they have supported include the local police department, a special needs camp, and the Boys and Girls Club. Local Salvation Armies are often looking for places for bell ringers to stand during the holidays. Alternatively, you may choose to partner with a national organization.
Over 90 percent of consumers want companies to communicate with them about what causes the company is supporting, according to a study conducted by Cone Cause Evolution. If you need help creating your campaign or getting your message out, then contact BrightPast.