Marketing for a cause is something that many American business owners skip. It takes a lot of time and funds to help other people, which takes away from helping your own business grow. But aiding other causes is the very thing that can boost your business. It can generate incredible goodwill for your company and increase brand awareness.
The Advantages of Cause Marketing
Because you’re raising money for other entities other than yourself, it might seem like you’re spending precious time and money that could be better spent elsewhere. However, research shows that there are some incredible benefits to taking part in cause marketing.
Surveys show that 90 percent of customers would switch to a brand with similar products that supports a good cause. Another 72 percent said they would recommend a brand that supports a good cause and 35 percent said they would invest in such a corporation.
If those startling statistics aren’t enough to convince you of the incredible benefits of cause marketing, here are a few more reasons.
- Increased Brand Awareness: When you’re a new company, you likely don’t have a lot of clout behind your business name. However, major causes like Primary Children’s Hospital already have a huge following. You can raise awareness of your brand by using the popularity of your chosen cause. Linking the two names together makes yours more memorable. It’s also a good opportunity to generate greater awareness for lesser known causes.
- Customer Retention: The statistics mentioned previously clearly show that customers are more willingly to stick with a brand that supports an altruistic cause. When companies don’t keep all of the proceeds, it becomes more endearing in the eyes of consumers.
- Greater Sales Volume: According to the survey mentioned above, 42 percent of customers will pay extra for a brand that supports a good cause rather than one that doesn’t. With increased recommendations, investments, and customer retention, your sales will take an obvious spike. It’s likely that your sales will continue to grow after your campaign is over as well.
- New Audiences: Retaining customers is incredibly important, but so is gaining new ones. You’ll open up your business to a brand new audience, many of which will be new leads. These new customers will be supporters of good causes who are happy to support a concerned company.
How to Successfully Market Your Cause
Cause marketing is clearly beneficial, but only if you take the right approach in your marketing tactics. It won’t simply market itself, after all, and many of the benefits mentioned above will fall by the wayside without a good campaign to hold them up. Follow a few of these suggestions for the best results on your campaign.
- Make It Authentic: Most consumers recognize that businesses market for a cause in order to help both the non-profit organization and themselves, but you shouldn’t make it obvious. Make it clear that you’re authentically seeking to promote a particular cause, but don’t try to hide your benefits if consumers ask. Being transparent and genuine in your campaign is paramount to success.
- Brand the Campaign: If you undergo cause marketing using only the name of the cause you’re supporting, it won’t be long before people forget who you are. Make sure they remember that your organization orchestrated the marketing campaign with branding tactics.
- Use Social Media: Facebook, Instagram, and Twitter are the perfect business partners in your campaign. You can post updates, advertisements, and links daily. Word will spread quickly on social media, and this is an incredibly inexpensive way to get the word out.
Businesses, both old and new. can use cause marketing to take their businesses to the next level. The attention and altruistic nature behind the investment will help companies retain customers and generate new ones.