CAUSE MARKETING: When a non-profit and a for-profit business partner together with the purpose of advancing the mission-related work of the non-profit, and the marketing goals of the business leading to mutual beneficial relationships.
Cause-Related-Marketing...The creation of the term "cause-related-marketing" is attributed to American Express, and it is coined to describe efforts to support locally-based causes in a way that also promoted business. The American Express 1983 Statue of Liberty Restoration Project Campaign ignited the concept that "Doing Good was Good for Business". The success of these initiatives is based on the cooperative efforts of the business and non-profit organizations for mutual benefit.
Business Partner Benefits
*Builds Favorability and Drives Sales - The Cone Study Survey states that businesses that support a cause are rewarded with a positive image
*Targets the Key Consumer - Moms are the primary household shoppers and are overwhelmingly supportive of cause marketing (95%)
*Attracts and Keeps Employees - Americans consider a company's social and environmental commitments when deciding where to work
Non-Profit Partner Benefits
*New Source of Revenue from Businesses - Taps the marketing muscle of the business by opening new doors in the business suite
*Generates Awareness - Gives these causes a voice and a presence in an increasingly crowded and competitive world
*Opens New Doors and Reaches New Donors - Leads to a more progressive and innovative approach to fundraising
Three Key Cause Marketing Drivers:
*Event Initiative, Program Sponsorship and More...
Cause Marketing refers to a type of marketing involving the cooperative efforts of a for-profit business and a non-profit organization for mutual benefit.
We can help get you a POSITIVE ROI and significantly increase your customer lifetime value revenue opportunities.
In communities across Long Island, businesses are helping non-profits to achieve their goals, while at the same time receiving valuable name recognition and promotion for themselves as supporters of a charitable organization.
If your business is interested in helping a non-profit achieve their mission and increasing your own visibility consider becoming a Business Directory Partner or Partner Sponsor. By becoming a Business Directory Partner or Partner Sponsor, your business has a direct connection with a non-profit to help the non-profit financially while at the same time you will receive valuable name recognition and promotion for your Business as supporters of a charitable organization.
Here are the facts and figures behind this quickly-growing trend that IMPACT YOUR BUSINESS BOTTOM LINE TO THE ROAD AHEAD...
Does cause-related marketing really impact you the Business Partner profits?
*American Express: In 1983, after American Express pledged to donate a penny to the restoration of the Statue of Liberty for every transaction made by its cardholders. Use of American Express cards increased by 28% and new users increased by 17%.
How do cause-related marketing campaigns impact consumer perceptions and behaviors?
*84% were likely to switch from one brand to another brand that is similar in price and quality, if it is associated with a good cause.
Does cause-related marketing have an impact on company employees?
*Assuming equal location, pay, benefits, and responsibilities, 72% of Americans say they would choose to work for a firm that supports charitable causes over one that does not.
Cause Marketing Speaks to Moms and Millennials
The latest Cone Cause Evolution Study reveals that moms are the demographic that are most open to cause marketing...they practically demand the oppportunity to shop with a cause in mind.
According to the Cone Survey, 95% of moms find cause marketing acceptabe, and 9 out of 10 want to buy a product that supports a cause. They are also more willing to switch brands (93% vs. 80% average) in order to support a cause.
Not far behind moms are millennial (18-24 years old), who also do their shopping with causes in mind. Ninety-four percent of this age group find cause marketing acceptable (vs 88% average), and more than half (53%) have purchased a product benefiting a cause this year. Notably, this group of young people want to work in socially conscious companies and make choices based on their social or environmental value as well.
Buying a cause-related product (81%) seems to be the main way consumers want to support a company's efforts. Nevertheless, consumers do seek out other engagement opportunities, such as providing ideas or feedback (75%) and volunteering (72%).
88% say it is acceptable for companies to couple a cause or issue with their marketing.