As consumers and employees continue to favor companies that develop and promote charitable relationships, the business benefits of cause marketing continue to grow.
Cause marketing involves a mutually beneficial partnership between a non-profit organization or cause and a for-profit business. The purpose of cause marketing is to increase exposure and awareness for both the for-profit business and the non-profit organization.
But the benefit to your business goes well beyond greater brand awareness.
Consumers and employees are attracted to brands and companies that are known for developing cause-related relationships, as shown in the latest Cone Case Evolution Study:
- 80% of consumers would switch to a brand that supports a cause, when price and quality are equal.
- 41% have bought a product because it was associated with a cause or issue.
- 83% wish more of the products, services and retailers they use would support causes.
- 85% have a more positive image of a product or company when it supports a cause they care about.
- 79% of employees feel a stronger sense of loyalty to their employer at companies with cause marketing programs.
- 69% of employees decide where to work based on a company’s support of a cause.
Cause marketing is an effective way to build positive brand awareness, and strengthen customer loyalty and employee pride. Increases in brand and customer loyalty lead to an increase in sales and the bottom line.
Consider a good cause as you develop your marketing plan – it’s good in more ways than one.