In addition to making the world a better place, cause marketing has a key benefit that many brands are unaware of: it attracts millennials like moths to a flame. Research consistently shows that millennials are a highly socially conscious generation: a 2015 study revealed that 9 in 10 millennials would switch brands to one associated with a cause, 70% would pay more for a product that makes an impact on an issue, and two-thirds actively use social media to engage with socially responsible companies, while research published last month from the Boston Consulting Group shows that millennials expect brands to support social issues and will favor and reward those that contribute the most to causes. Extra points are given to those who integrate social responsibility directly into their corporate culture or business model rather than simply donating money.
As a millennial myself, I can personally confirm the veracity of this claim. My brand loyalty to Ben and Jerry's stems from their dedication to fair trade and environmental issues, and my glasses are from Warby Parker solely because of the "Buy a Pair, Give a Pair" program.
It takes more than a TV commercial or a cleverly-worded newspaper ad to attract and retain the millennial market, however. When delivering a message about your brand's commitment to social responsibility, it is important that it take a form that appeals to millennials, and studies show that the most impactful vehicles for millennial-focused, cause-based content are videos, infographics, and games. Interactive experiences and visual storytelling work best to entertain and engage the most digitally connected generation.
If you can make a difference and effectively share it with the world, millennials will inevitably notice and appreciate your hard work—and it will pay off in dividends.
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