What is Cause Marketing?
Businesses have realized that consumers are concerned about their effect on society in an age where transparency is critical to their profit margin.
In an era where people are actively concerned about social and environmental issues, cause marketing helps businesses keep up their profit and contribute their share to the many different causes in the world.
Businesses have realized that consumers are concerned about their effect on society in an age where transparency is critical to their profit margin. More than 50% of consumers are curious about how brands tackle social and environmental issues. Almost 40% of consumers tend to pay close attention to a company’s actions.
What is Cause Marketing?
Cause-related marketing, more commonly known as cause marketing, is when a company supports a charitable cause or a social issue and, in return, gets marketing benefits. It is the partnership of a for-profit company and a non-profit organization for the greater good. Companies that are using cause marketing think it will help them acquire and keep customers.
Or more colloquially put, ‘you buy, we’ll give, it’s when a company does well by giving back to society.
Benefits of Cause Marketing
This enables companies to raise the non-profit partner’s brand awareness and exposure. Due to the fact that non-profits usually have limited budgets, a collaboration with businesses can assist them in getting knowledge about their efforts and causing in front of customers they might not have otherwise reached. However, these advantages aren’t just for the non-profit partner, and the corporate partner also avails significant advantages.
- Meeting the call for corporate social responsibility
- Boosting Brand Loyalty
- Uplifting employee morale
- Establishing a connection with the community
- Making the distinction between you and your competition
- Improving the image of the brand.
Here are a few examples: As more consumers have started holding brands and companies accountable, many successful cause marketing examples have emerged with the partnership with non-profit organizations. A few examples are given below:
Warby Parker’s ongoing collaboration with various healthcare organizations that donate glasses to those in need is a perfect example of successful cause marketing. The company teaches their non-profit partners how to carry out basic eye exams and provides free glasses to vision-impaired kids so that they might continue their education and other activities more conveniently. Further, they have also partnered with companies such as VisionSpring and developed programs such as Pupils Project. As a result, this campaign has managed to reach people in over 50 countries.
Arby’s and Share Our Strength’s Purposefull Campaign
Purposeful is the campaign collaborating with Share Our Strength, a non-profit organization that feeds children in America, and Arby’s. On every purchase they make from Arby’s customers, they are encouraged to donate, even the donation of 1 dollar. That $1 can provide food for 10 meals.
The small donation amount helps emphasize the support and the compassion they feel when they donate. So far, this campaign has raised $15 million, which shows how well this works, not just for the corporate partner but also the charity with which they partner.