Cause Marketing tactics employ promotional campaigns that seek to generate revenue while benefiting a worthy cause. With millennials and generation Z now being the largest groups guiding and affecting consumerism, companies need to understand their preferences and values. These consumers support companies whose ethics align with their own. Younger generations are putting their money where their mouths are by doing business with people that make a positive impact on society. Engaging in cause-marketing is a great way to be socially responsible and visibly align yourself with your existing and potential customers. Here are 4 worthwhile benefits of implementing a cause-marketing campaign.
- Increased Sales
Obviously, the most important goal of any marketing initiative is to increase sales and with cause-marketing tactics you can almost ensure a greater volume of sales. People are more willing to spend money on a product that directly benefits a cause. This is a virtuous trait of consumer culture, so take advantage of it when you can.
- Raise Awareness for the Charity
The relationship between your business and the charity that you are supporting is one that will be completely symbiotic. Customers are attracted to products attached to a worthy cause, money is funneled into the charity, and in turn people attribute credibility to the charity. In fact, 79% of shoppers would donate to a charity supported by a business they trust.
- Stronger Public Image
The public will remember when a business utilizes a cause-marketing campaign, so post on social media, include the charity logo or name in advertisements, and make sure that your efforts are visible. As a result, your public image will strengthen, and consumers will begin to associate your brand with the cause you are supporting. Also, make sure your causes align with your ethics and the politics of your surrounding community. For example, Chick-Fila recently stopped supporting charities that were openly Anti-LGTBQ due to millennials and generation Z boycotting. Customer loyalty will rise as people recognize your efforts and believe that your motive is authentic.
- Employee Satisfaction
Your employees will be proud to work for a company that gives back to those in need and enriches the local community. It not only builds employee loyalty, but cause-marketing can help attract prospective employees. Almost 70% of people are more likely to apply to a job for a company that is socially responsible over one that takes little to no charitable action.
Cause-Marketing, when done right, can change how people perceive your business, increase sales, and give back to a worthy cause. Figure out which charity or cause you and your employees care about and attach your brand!
Need help or ideas on implementing a cause-marketing strategy for your company? Ask us a question and let us help!