Is Cause Marketing Right for Your Company?
Today’s consumers are more socially aware than ever before, especially with their spending habits. Of course, people are always looking to find the best value, but a growing number agree that their purchasing decisions are influenced by social causes.
Cause marketing is a type of corporate social responsibility, in which a company’s promotional campaigns have the dual purpose of increasing profitability while bettering society.
All things being equal, many consumers say they would switch brands or vendors in favor of one that supports a good cause. As a business owner, cause marketing can show your customers and clients that you care about more than just your bottom line. And that will likely be good for business.
You can start with the causes that you and your employees care about. Your company’s core values can also guide you.
Not long after Tim Cook became Apple’s new CEO, he instituted a program to match employee donations. Since that time, Apple has matched over $25 million worth of employee donations, resulting in more than $50 million for charities around the world. As a consumer of Apple products, that makes me feel good about the company.
Even relatively smaller companies are utilizing cause marketing: A leading New York City based commercial office furniture distributor often features the philanthropic work of its staff on its blog and in videos that appear on its website and social media platforms. It’s CEO says his clients have absolutely noticed.
People often feel better about hiring a vendor or purchasing products if the company shares their values. As a business owner, supporting good causes will likely not only have a positive impact on the world, but also your bottom line.
At LETTER 7, we proudly offer discounts to our nonprofit clients