Everything You Need to Know About Cause Marketing
Cause Marketing is one of those terms that are thrown around, but people aren’t exactly sure what it is or how to utilize it in their own marketing strategy. Perhaps the most famous brand that has successfully carried out this type of marketing is TOMS. TOMS’ business model isn’t just about shoes; it’s built around providing education, training, clean water, and medical aid around the world. Even if your company isn’t built with a structure like TOMS’, you can still incorporate cause marketing in your strategy and advertising campaigns.
What is Cause Marketing?
Michael Organ states that, “Cause Marketing is defined as a type of Corporate Social Responsibility (CSR) in which a company’s promotional campaign has the dual purpose of increasing profitability while bettering society.” In other words, when a company “does well by doing good,” they’re utilizing cause marketing.
Why you should do it
According to Forbes, almost 90% of Americans claim that they would be willing to switch from a brand that does not support a cause to one that does. Another 70% also believe that companies should be committed to align themselves with some social cause. With this mind, consumers generally like it when your business supports inherently good social issues (green initiative, cruelty-free).
In addition, aligning the company with a great cause also attracts talent. Millennials are drawn to companies that are socially responsible and are more likely to recommend a company that is more philanthropic.
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When choosing a social to show support for, make sure you’re choosing one that’s right for your brand. It’s better to support 1-2 causes wholeheartedly than to change your cause monthly/yearly. This way, you maintain your brand’s authenticity and impact. For example, if you own a boutique, consider supporting local artists from your hometown or from abroad. Showcasing their work is a great way to support small businesses and artistry. If you own a garage, consider taking donations for old car parts to reduce waste and to encourage reusability.
Utilize the power of social media to encourage your customers to also give back! By doing a marketing campaign, you will reach your current customers and potential buyers while building awareness for not only the social cause, but for your brand as well. Consider creating a hashtag, or "challenge" your followers to give (like "pay-it-forward").
Are you ready to get started? We can help! Give us a call or check out our website and we can talk strategy!