Friday, 19 May 2017
Cause marketing and how it matters
It is not just your product, good service or compelling advertisements that attract customers towards your brand. Social responsibility and commitment play a vital role in building a good image of the brand and thereby attracts business. CSR or corporate social responsibility is an approach that contributes economic, social and environmental benefits to the business and all stakeholders by delivering sustainable development.
In this new era of CSR, what you don’t do can cost you. “Cause marketing” is now a prominent marketing technique and customers who follow your brand, visit your website and see your advertising want to know if you are socially responsible and to know if you share their desire to make the world a better place by supporting an important cause.
If your business or brand does not stand for or support a social cause, consumers may turn to your competitors with better social responsibility. According to a recent survey the number of consumers who say they would switch from one brand to another if the other brand were associated with a good cause has climbed to 87 percent.
There is a strong connection between entrepreneurship and giving. The challenge is to make your corporate social responsibility efforts equally beneficial and profitable to nonprofit group you support, the community and your business. You can master this marketing challenge by following these five important steps:
Give from the heart.
Cause marketing works best when you give it from your heart and not out of compulsion. You and your employees should feel great about the help you are providing to a nonprofit group. So work with an organization you and your team believes in; the one which you really feels like helping. What matters most to you, your team and your customers? You will work hard to make a difference when you give from the heart.
Choose a related cause.
Always choose a cause which is related to the nature of your business. A solid cause- marketing campaign should start with the right affiliation. For example a toothpaste brand, giving free dental checkups to the unprivileged.
Contribute more than just money.
Cause marketing generally involves donating products or services and not simply writing a check. This can help form even stronger consumer associations between what you offer and the good work you do.
Formalize your affiliation.
To make your affiliation beneficial for everyone involved; the nonprofit you choose to work with should increase visibility of your business, brand recognition and company awareness. If the organization has a newsletter or other communications with its constituents, negotiate for opportunities to do joint promotions. Develop a strategy to get your organization’s logo and name mentioned in your marketing campaigns wherever possible increase the reach and impact.
Mount a marketing campaign.
Like any other marketing campaign success in cause marketing often means motivating an audience to take action. Using a well-designed and strategized cause marketing campaign, you can reach and persuade the target group while also raising awareness for your business and its commitment to social responsibility.
at May 19, 2017
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