Haven’t Heard Of Cause Marketing? Here’s What It Is & How It Can Grow Your Brand
Wondering about cause marketing? You’re in for a treat!
Cause Marketing is what happens when a company decides to make a donation to charity based on the sale of its products or services.
Studies show that companies that engage in this type of marketing experience increase sales, drive stronger brand awareness and loyalty, and have more motivated employees.
Are those areas that you want your company to grow in? If that’s the case, the following are ways in which Cause Marketing can help you achieve your goals:
1. Cause Marketing Helps You Attract New Customers
Consumers are attracted to companies that fight for a good cause.
Studies indicate that 80% of consumers will buy from a brand they have never heard about if it has strong social or environmental commitments.
If you had any preconceived notion that cause marketing was for established companies… now might be a good time to throw that notion away.
2. Cause Marketing Gives You The Edge On Your Competitors
Not only will Cause Marketing attract new customers, but it will establish you as a threat to any company that sells the same product.
Research reveals that 90% of U.S shoppers will switch to a cause-based product even if it costs the same as a non-cause based product.
While the world might make you think that nice guys finish last, the same doesn’t apply to business.
3. Cause Marketing Helps You Carry Out Corporate Social Responsibility
Corporate Social Responsibility (CSR) can be thought of as the conscience of business.
To make a profit is the main aim of business, but to champion the cause of the less fortunate and underprivileged constitutes what is known as CSR.
Studies show that CSR boosts a company’s morale and invigorates the employees to go the extra mile.
Isn’t that growth you’d love to see in your staff?
Whether it fits your brand image or not, Cause Marketing has no flaws. Consumers will always respond to companies that take the time to give back to their communities.
However, this type of marketing can’t be done spontaneously. If it isn’t approached with the right strategy, consumers will call your bluff!
To avoid this, there are Cause Marketing specialists that can design campaigns to authentically win the trust of the people in your business community.
With all that’s been said, the decision is now up to you. Do you think Cause Marketing can help your business?