Cause marketing is a strategic marketing approach that aligns a for-profit business with a social cause or nonprofit organization. It is a mutually beneficial relationship where both the business and the cause benefit from the partnership.
For businesses, cause marketing can help to:
- Increase brand awareness and reputation: Consumers are increasingly drawn to brands that support causes they care about. Cause marketing can help businesses to build a strong reputation as a socially responsible company.
- Attract and retain customers: Cause marketing can help businesses to attract and retain customers who share their values. According to a recent study by Cone Communications, 87% of consumers have a more positive perception of a brand that supports a cause they care about.
- Increase sales and profits: Cause marketing campaigns can lead to increased sales and profits for businesses. For example, a study by Nielsen found that 66% of consumers are willing to pay more for a product from a company that supports a cause they care about.
For nonprofits, cause marketing can help to:
- Increase awareness and support for their cause: Cause marketing campaigns can help nonprofits to raise awareness of their cause and attract new supporters.
- Generate donations: Cause marketing campaigns can generate donations for nonprofits, either directly from businesses or from consumers.
- Build relationships with businesses: Cause marketing partnerships can help nonprofits to build relationships with businesses that share their values. These relationships can lead to other opportunities for collaboration and support.
Examples of cause marketing:
- TOMS: TOMS Shoes donates a pair of shoes to a child in need for every pair of shoes purchased.
- Product (RED): Product (RED) is a global campaign that partners with companies to create and sell products that support the fight against HIV/AIDS.
- Yoplait Saves Lives: Yoplait Saves Lives donates a portion of sales from its yogurt products to support breast cancer research and awareness.
How to start a cause marketing campaign:
- Choose a cause that is aligned with your business’s values and mission.
- Identify a nonprofit organization that is working to address the cause you care about.
- Reach out to the nonprofit organization to discuss a potential partnership.
- Develop a cause marketing campaign that is mutually beneficial for both your business and the nonprofit organization.
- Promote your cause marketing campaign to your customers and employees.
Cause marketing is a powerful way for businesses to make a positive impact on society and boost their bottom line at the same time. By partnering with a nonprofit organization, businesses can support important causes while also achieving their own marketing goals.