Has your company invested in cause marketing yet? Over the past decade, the amount of companies taking part in cause marketing and sponsorship has grown exponentially as more and more begin to realize the benefits it has for both them and the world at large.
Research shows that cause marketing actually makes a measurable difference in the grand scheme of things, meaning your efforts won't be going to waste. In addition to making the world a better place by spreading the word about a great cause, studies show that cause marketing appeals to consumers and can boost your business, making it a win-win for everyone. Aligning your company with a related cause or nonprofit has many advantages for you: increased customer purchases, favorability, and loyalty, awareness through word-of-mouth, greater employee engagement and retention, and new customers are just a few.
For example, take the Olay skincare brand and their partnership with the American Society for Dermatologic Surgery. Through multimedia coverage and an innovative digital marketing campaign, they were able to attract over 9,000 people to their free skin cancer screenings. You might also remember the more recent Bring Back the Bees campaign from Burt's Bees where the company helped plant over a billion wildflowers to contribute to bee conservation efforts. This endeavor led to tens of thousands of views on related content and significant media coverage in addition to giving back to the environment, making it worthwhile for all involved.
In today's ultra-connected digital age, what you don't do can be just as important as the actions you do take. Neglecting to stand up for a cause can actually cost your business, as 87% of Americans say they would switch brands to one that supports a relevant issue or nonprofit. Do you want to be the brand they abandon, or the one they flock towards?
To learn more about choosing the right cause for your business, stay tuned for my next post!
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