Since the 1970s, the use of cause marketing has become increasingly popular among nonprofit organizations and private companies alike. Although many companies get involved in issues as a way to give back to their community, they can also reap tremendous business benefits by helping to raise money and awareness for a cause. The following are some reasons why cause marketing is an attractive option for your business.
Attracting customers. According to the goodpurpose® study conducted by Edleman, 72 percent of respondents reported they would recommend a brand to someone if it supports a good cause. Furthermore, 44 percent said they would be willing to pay top dollar for a brand that backs a cause. With this consumer preference in mind, you can really leverage cause marketing to create a positive image for your company and get prospective and existing customers excited about your products or services.
Attracting employees. People want to work for companies that care about them—and the things that are important to them. Many job hunters, particularly millennials, will only consider working for organizations that are actively involved in causes. And once workers are hired, they tend to be more engaged and loyal to companies that contribute to the community—especially when they’re given time off to volunteer to their favorite charities. As a result, cause marketing is a great way to attract and retain the best talent.
Attracting publicity. Everyone loves a feel-good story, so if your business participates in a cause marketing campaign, be sure to let the local media know. Media outlets don’t always pay attention to press releases that tout new products or announce executive shifts, but they are likely to publicize a company supporting social causes. This will give you the opportunity to reinforce positive feelings about your brand and reach new audiences you may not have had access to before.
Attracting social media engagement. Just as the news media likes sharing a feel-good story, people on social media enjoy sharing messages that make their followers smile. By creating catchy posts on social networking sites about your cause of choice, you encourage people to share your campaign with their friends and family, as well as interact directly with your company. This can increase your online following and get people excited about your business.
Attracting partnerships. Just because a campaign is over doesn’t mean your business can’t continue a relationship with the charity you worked with. A successful campaign can be the foundation for a long-term partnership with an organization that you both can benefit from. And if you work together long enough, consumers will associate your brand with the cause—which will make them more enthusiastic about spending money on a company that supports the issues that are important to them.
If you’re thinking about attaching your brand to a cause, it’s well worth the time and effort. Participating in cause marketing is a win-win proposition for your business and the organization you’re working with.