Cause Marketing is marketing done by a for-profit business that seeks to both increase profits and to better society in accordance with corporate social responsibility, such as by including activist messages in advertising.
Simarlarly, Cause-related Marketing is a subset of this type of marketing that involves the cooperative efforts of a for-profit business and a non-profit organization for mutual benefit.
Corporate Philanthropy involves a specific donation to a nonprofit that is tax-deductible.
Cause Marketing is the new normal. Your customers and prospects want to confirm that you share their desire to make the world a better place. If your organization doesn’t give back, consumers may turn to your competitors. According to a Cone Cause Evolution Survey, 87 percent of consumers say they would switch from one brand to another if the other brand were associated with a good cause.
Trends show that young people gravitate towards brands with purpose. Stand for something, Gen Z says, and we’ll reward your company with our attention and dollars.
According to new research from DoSomething Strategic, a social impact consultancy, marketers are struggling with putting the ideals of cause marketing into practice as brands focus on individual campaigns and not deeper meaning.
According to Kantar’s Purpose 2020 report, which looks at how brands think of purpose, those brands that fall into a purpose-led strategy “stand to grow at twice the rate of those without any higher-order societal aim,” according to a statement. The report found that almost two-thirds of millennials and Gen Z want “brands that have a point of view and stand for something.” However, the point of DoSomething’s study is that just having a point of view doesn’t cut it. Brands need to embody the cause, not just use it as a one-off campaign.
A business can add depth to its brand, and enjoy a “halo affect” by partnering with a reputable nonprofit on a cause marketing campaign. Benefits include new leads through the nonprofit’s base of supporters, public relations benefits such as increased press coverage, promotional opportunities, and improved customer relations. Nonprofits benefit from cause marketing by leveraging their corporate partner’s popularity, customer base to raise money and awareness.
At Grace & Grit Marketing, we are adept at matching our clients with a cause marketing partner with the perfect follower base and brand fit. We can help your organization benefit from implementing a cause marketing initiative, however this must be something deeper than a marketing initiative. It must truly connect with the mission of the business.
Cause Marketing Services:
- Cause Marketing Campaigns
- Strategic Nonprofit Partnerships
- Charity Event Sponsorship
- Community Relations