Today consumers are not only price conscious, they’re socially conscious as well. With so many options on where to spend, consumers want to make sure they’re giving their dollars to businesses that have a purpose. Customers want to know that you share their desire to make the world a better place. If your business isn't supporting a cause, you risk losing your customers to a competitor who is.
Cause marketing by the numbers:
• 91% of global consumers are likely to switch brands to one associated with a good cause, given comparable price and quality. 2013 Cone Communications/ Echo Global CSR Study
• 50% of global consumers said they would be willing to reward companies that give back to society by paying more for their goods and services (44% in the U.S. and 38% in Canada). Nielsen 2013 Consumers Who Care Study
• 47% of consumers have bought a brand at least monthly that supports a cause, representing a 47% increase from 2010. Over the years, consumers have taken increased action on behalf of brands with Purpose: Edelman goodpurpose 2012
• 93% of consumers want to know what companies are doing to make the world a better place and 91% also want to be heard by companies. Unfortunately, 71% report being confused by the message companies use to talk about their efforts and impacts. 2011 Cone/Echo Global CR Study
How to begin your cause marketing efforts?
1. Make it personal.
Cause marketing partnerships work best when it matters to you and your employees. Is there a cause, an event or an organization that you and your employees can get behind? Get personally invested.
2. Contribute more than dollars.
Cause marketing doesn’t always mean a big investment or donation. It can also involve donating products or services, volunteer work, inclusion in your existing marketing campaigns or launching a dedicated campaign, or affiliating a donation with the sale of your products or services. These efforts can help form an even stronger bond with your consumers and your charitable partner.
3. Solidify your partnership.
Make sure you have notified and been approved by the organization you are telling your customers you are aligned with. Your intentions may be legitimate, but if the organization isn’t aware of what you’re doing, they can’t confirm it for anyone who is asking.
4. Market your message.
If you aren’t telling people what you’re doing, they can’t support you or your partnership. Be creative. Motivate consumers to take action. Target your marketing so you can reach the audience who will respond to your message.
When the right cause marketing partnership is created, both partners can realize increased revenue, media exposure, and increased public relations. Creativity is the key to a successful partnership. Align your business with a cause that is key to your products, your community, or your employees.
Cause marketing isn’t always based on a monetary donation. It can be just as beneficial if it helps both partners further their mission, business, or cause. Brands must continue to establish why they are meaningful to their customers, not just as a transaction, but also in their everyday lives. Why Cause Marketing is an Inside Job speaks to the importance of business building and the positive association with a business or a brand. Aligning the right marketing strategy to associate the business or brand with a cause has now become a core component of a business’ marketing strategy.
And Cause Marketing isn’t just for big business. In fact with today’s technology it is even easier for businesses of all sizes to get involved, it’s about doing well by doing good.Get started by joining our cause marketing campaign.
Find out more at Paint it all Pink.