“The world is getting smaller and smaller every day. We cannot find ourselves dependent on somebody who is untrustworthy.”
It seems like this famous quote has become the reality where lightning-fast internet speed, blockchain technology, and international companies are actively bringing the world closer. This also means consumers are becoming more aware, especially younger people opting for only those businesses or brands addressing the societal issues thoughtfully.
In this drastic millennial age, businesses are also realizing that new-age customers are concerned with their impact (Good or Bad) on overall society. Yes, that is 100% true. Today’s smart consumers expect brands to be socially responsible too. Don’t believe us! Below are the surprising statistics that you must need to know:
- More than 70 percent of the customers are eager to know how particular brands are addressing societal as well as environmental issues
- On average, 46 percent of millennials pay close or say sharp attention to the actions aspiring brands are taking
This is where “CAUSE MARKETING” stands. Cause Marketing has become a big deal for top brands or businesses for bringing a change through social awareness that many including us have ignored in the past. In this blog, we have tried to explore almost everything about cause marketing and how this marketing technique or strategy can impact your business.
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Cause Marketing: Little Background
In 1976, Marriott Corporation and March of Dimes came into partnership and worked together to promote Marariot’s family restaurant located in Santa Clara (California). March of Dimes has raised funds for a cause known for the prevention of birth defects in babies. This campaign has become successful with the collective efforts of both businesses. On seeing the massive success, the other leading corporations have started following the league as well.
Today, cause marketing has become a phenomenon for every brand to support small or larger causes/social campaigns like:
- Breast cancer
- Social justice and gender equality
- Uplifting LGBT community
- Giving free education to underprivileged children
- Raising awareness regarding HIV and Coronavirus
Cause marketing is slightly different from other forms of marketing that can benefit both business and not-for-profit businesses alike with a social cause. Having said that, let us now explain to you in detail more about cause marketing.
What Exactly is Cause Marketing?
Cause-related marketing or short-cause marketing is then. When a specific brand or business chooses to support a charitable cause or even a social issue. And in return, gets marketing benefits from the same.
Cause marketing is often defined as the desire of a business. That he donates or reduces revenue only for the cause.
Professionally speaking, causal marketing is a collaboration between a for-profit business and a non-profit charitable trust or organization. Which brings change or positive effect in the mind of the people.
In simple words, cause marketing is all about making a long-lasting impact on society through charitable campaigns. It is regarded as a corporate social responsibility that puts both the profit-making and non-profit-making parties together for mutual benefits.
Cause marketing can come in many different forms and usually acts differently in different business verticals. You must focus on crafting a solid cause marketing strategy depending on the type of customers and cause you are going to support.
The Importance of Cause Marketing
Being a smart business owner, you must focus on driving a positive force by leveraging the power of cause marketing. Your organization needs to craft a win-win cause marketing strategy to empower others, drawing positive attention, and maximizing your earnings consistently.
Cause marketing is a wonderful spectrum and not limited to making the world a better place to live. It aims to serve genuine business goals to build a good and most probably never-ending relationship with the public. Here we have listed some of the main benefits of cause-related marketing:
- Cause marketing is an exceptional marketing tool to reach global clients while making a positive impression on them.
- It can raise awareness for your cause and business alike within no time
- It acts as a straightforward form of advertisement to influence the masses and not just individuals
- You get the privilege to take your brand forward more positively
- It offers you a great experience and a massive rise in revenue
- This is an effective way for your business to stand out from your other contemporaries
- It adds more value to your marketing efforts with ease
A powerful cause marketing campaign can bring a plethora of benefits if utilized properly. From enhancing brand loyalty to generating new leads daily, there’s nothing that causes marketing cannot do. To accomplish all this, you need to make a solid cause-based marketing plan to make a big difference.
How Brands Can Build Successful Cause Marketing Strategies?
Launching your rewarding campaigns to ensure both parties get the most out of it seems like a daunting task. To begin with, you first need to create an effective cause marketing plan to connect with the audience perfectly. Here is how you can do this:
Pick a Worthy Cause
You must first choose a real reason before proceeding. who you think you can support. and work for your business. Your work should bring satisfaction and it should be equally valuable to you and your customers. Knowing your type of audience can also help you develop results-oriented campaigns that further expand your business’s reach on a global scale.
Setting Cause Budget is Important
The success of your cause largely depends on the budget too. A budget is something that helps you decide how much effort you can put into a particular social cause. You need to set a monthly budget in advance to keep your cause on track. If you are out of budget, then asking for donations for the customers would be a good idea.
Indulge More in PR & Advertising
If you want to amplify your cause marketing efforts, then you must embrace the power of PR and advertising channels for optimal results. This can be done by outsourcing reliable PR or advertising firms that can take your cause to a new level.
Track Your Campaigns Success
Every marketing seems incomplete without tracking the results. Before embarking on your cause-of-sight marketing, you should keep a few important factors in mind. Such as the size of the customer base, type of reason, leads generated, etc. This in-depth assessment will help measure growth and know where your supporting cause lies.
Make the Cause Long Lasting
No matter if you are supporting a charitable local cause or a national one, your every cause campaign must go beyond any ordinary campaign. You need to think differently and smartly to make your cause walk the talk.
You should keep in mind that your cause marketing serves a specific purpose and aims to create a sense of awareness in every individual. Construct an impeccable cause marketing plan to encourage the public to follow an ideal social cause.
Top Brands That Have Built a Flawless Cause Marketing Campaign and Drive Monstrous Success
Cause marketing has become a “BIG” thing and an emerging marketing trend. There are a plethora of aspiring brands and businesses that have risen to fame by creating fabulous cause marketing plans. Here is the list of top brands that have made the cause marketing looking like a success:
- Kenneth Cole
- Sport England
- The Body Shop
- Levi Strauss
- Savage x Fenty
From gender equality to body positivity, these brands have emerged victorious by investing their time, money, and effort in building a powerful cause marketing strategy.
Is Your Business Ready for the Cause Marketing too?
As you can see, cause marketing is more than just promoting your brand. As every upcoming brand is going digital, it is the right time to invest in cause marketing to do something for the society and make your brand come alive.
Therefore, start planning now and add cause marketing to your bucket list for the next viral social cause!