CAUSE RELATED MARKETING...The creation of the term "cause related marketing" is attributed to American Exprss, and it as coined to describe efforts to support locally based causes in a way that also promoted business. American Express 1983 Statue of Liberty Resotoration 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.
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 interested in helping non-profits achieve their mission consider becoming an Direct Cause Marketing Partner. By becoming an Direct Cause Marketing Partner, a business has a direct connection with a non-profit to help the non-profit financially while at they receive valuable name recognition and promotion for themselves as supporters of a charitable organization.
Does cause-related marketing really impact Direct Cause Marketing Partner profits?
Here are the facts and figures behind this quickly-growing trend.
*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 Loudest to Moms and Millennials
The latest Cone Cause Evolution Study reveals that moms are the demographic most open to cause marketing...they practically demand the oppportunity to shop with a cause in mind.
According to the Cone survy, some 95% of moms find cause marketing acceptabe, and 9 out of 10 want to buy a product that supports a cause. The 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 wants to work in socially conscious companies, and make investing 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.