What is Cause Marketing?
Cause marketing is big. Brands as diverse as Gucci, Dove and KFC are jumping on the bandwagon. What is cause marketing? The principles of cause marketing refer to aligning a brand with a cause to produce profitable and societal benefits for both parties. Some of the mutual benefits may include social value, increased connection with the public, profit and the communication of shared value.
What is Cause Marketing?—The Brief History
Cause Marketing started in the 1970’s when Bruce Burtch organized fundraisers between the March of Dimes and the Marriott Corporation. Since then, cause marketing growth has expanded to other countries around the world including India, China and Brazil.
Cause marketing is now the norm, and customers (especially millenials) want to know that you share their desire to make a difference by supporting an important cause. What you don’t do can cost you in this new era of social responsibility. If your brand or business doesn’t stand for a cause, customers may turn to your competitors. According to a Cone Cause Evolution Study, 87% of consumers say they would move from one brand to another if that brand was associated with a good cause. What it boils down to is that people want to buy from or utilize services from businesses that do good. Find the right cause for your business to embrace – one that your team is excited to stand behind and that you wholeheartedly support.
Learn how to master the cause marketing challenge by following these 3 key steps
Believe in the cause. It’s important to work with an organization that you and your team believes in for cause marketing to work best. Take time to decide what matters most to you, your team and your customers. When you are giving from the heart, you’ll work hard to make a difference and others will see that and want to jump on board with you.
Make sure it’s a good fit. Creating a solid cause marketing campaign begins with choosing a related cause—what relates best to your company or its offerings. Work with a nonprofit or organization that helps to increase your visibility, brand or awareness in a positive way.
Offer more than just money. You can offer more to your cause marketing efforts than just writing a check. Donate your services or products or your team’s time as well to make a big difference.
Do a world of good with cause related marketing this year.
For information on putting together a cause marketing campaign for your small business, or for help with other marketing services, please contact us.