As a company in 2022, giving back is becoming more of an expectation than an added benefit for consumers. In a study by Foresters, they found that 91 percent of consumers expect companies to address social and environmental issues and give back to their local communities. With a generational shift and as a younger audience dominates the marketplace, cause related marketing and corporate responsibility will become critical for success.
Bridging the gap between promoting your efforts as altruistic rather than aspirational is a challenging path to navigate. However, when marketed thoughtfully and strategically your social impact can create positive association with your brand.
This Giving Tuesday, let’s talk about why your social and environmental impact matters, what to get involved in, and how to promote it.
Cause marketing is a partnership between a for-profit corporation and a nonprofit organization, such as a charity or foundation. This mutually beneficial agreement helps both parties: businesses are not only able to generate new traffic through these campaigns, but also establish brand loyalty and increase customer retention. For nonprofits, the partnership can increase cause awareness and support of their organization.
Not only does cause-related marketing have external benefits of attracting consumers, but also internally. These programs help attract new talent as well as retain current employees by creating a more engaging workspace.
Ultimately, cause marketing partnerships should be created for a company’s genuine desire to give back to the community. When relationships are created for this purpose, the program will translate positively to the public, employees and bottom line.
What to Get Involved In
Examples of successful cause marketing campaigns span from Ben & Jerry’s collaborating with nonprofits to promote general ethical issues like increasing voting knowledge and ability in low-income areas. Other companies have worked with nonprofits with similar goals to their brand, like Warby Parker and VisionSpring in their attempt to bring glasses and provide vision tests to impoverished areas.
Partnerships between nonprofit and for-profit organizations can be created because of shared interests like Warby Parker and VisionSpring, or by simply seeing a need that your business can help bring awareness to, like Ben & Jerry’s. Ensuring that the relationship is mutually beneficial and has a measurable impact should be the decisive factor in a choice of collaboration.
Authenticity is key when promoting cause marketing campaigns. Messaging should be focused on who and why your company is supporting. Instead of broadcasting programs with a full-scale media blitz, using small media publications and organic social media content can be more effective and resonate far more.
It’s important to consider that businesses will need to go “all in” on their efforts and do more than give money to good causes. Customers will want to see real action, including marketing campaigns emphasizing the importance of the nonprofit’s message, while showing company-wide immersion in backing a nonprofit’s ethical and sustainable values. Cause marketing is an effective solution that, if done correctly, can promise growth and customer retention for your business as well as awareness of the nonprofit. To learn more, contact [email protected] or visit our contact us page.