Giving back to the community never fails to make people feel good. When they can benefit others while purchasing goods or services they need anyway, it's a win-win. In fact, given the choice of a similar product and price from two competitors, most consumers would choose the one that also helps a worthy cause over the one that doesn't. That is the basis of cause marketing.
Cause marketing starts when a for-profit business partners with a non-profit business to help their charitable cause through a public campaign. It helps the charity by attracting attention to its cause and helping to raise much-needed money for its efforts while also benefiting the consumers, as many like the idea that they are contributing to a good cause.
Businesses also gain many advantages when they partner with non-profits. Consider the following business benefits of a well-crafted cause marketing strategy:
1. Increased Sales
As we mentioned, consumers are often more willing to purchase products or services from companies that align with a cause. It's even more compelling when it is a cause they care about.
If a shopper knew that by purchasing bottled water, they could also help provide clean drinking water to those who don't have access and do so at a comparable cost to other brands, they will be more likely to choose the one that also helps others. Giving consumers a compelling reason to purchase your product results in increased sales and greater return on investment (ROI).
2. Enhanced Brand Reputation
Your brand reputation is your most valuable asset. As a new or smaller company, it can be challenging and take time to build brand credibility and authority. Cause marketing is an excellent way to build your brand reputation.
People often view companies that are committed to social and environmental issues more positively. This leads to a more enhanced reputation.
3. Increased Customer Loyalty
When people value contributing to their communities and taking care of the world around them, they align themselves with other like-minded people. The same is true with the businesses they frequent. They recognize that the companies that contribute to charitable causes also need and, more importantly, deserve their support. An enterprise that puts its efforts into helping others will see an increase in customer loyalty.
4. Employee Engagement
It isn't just consumers that like to see a company contribute to worthy non-profit causes. One of the learnings from the Great Resignation is that workers need more to feel engaged than just a salary. They want to feel that what they do makes a positive difference.
Employees are often more motivated to work for companies that are making a positive impact in the world.
5. Positive Impact on Society
Cause marketing campaigns can make a positive impact on society by raising awareness of and funding for important social and environmental issues. Many companies today have sustainability in their missions or goals.
Promoting causes that help to support the environment and cut back on waste and depletion of natural resources is a great way to further their mission. Cause marketing campaigns can remind the public about why charity is important, help address the challenge, and create a better future for everyone.
6. Differentiation from Competitors
Every business wants to gain a competitive advantage. New and small businesses can struggle to differentiate themselves in a crowded market.
By aligning with a unique cause or issue, companies can highlight their brand among their competition and attract consumers who share similar values.
7. Cost-Effective Marketing
It doesn't take a big budget to implement a cause marketing strategy. Many companies have succeeded in their cause marketing efforts with relatively low budgets compared to other marketing tactics.
Remember, a small budget means you need to create the greatest ROI with your marketing spend. Cause marketing is a way to achieve that goal.
8. Partnership Opportunities
Cause marketing campaigns can create partnership opportunities with other organizations and businesses. It opens a door for many networking opportunities.
Working in collaboration with others toward a common cause helps companies strengthen relationships and reach new audiences while supporting worthy charities.
9. Improved Customer Insights
Engaging with customers about social and environmental issues helps companies gain a deeper understanding of their needs and preferences. It improves the relationship between your business and your customer and creates a deeper connection with them. This very valuable exercise is a huge cost-savings over expensive market research.
10. Increased Employee Retention
Employee retention has been a top concern for the last several years. The key is to find what matters to your workforce. Employees who feel that their work is making a positive impact are more likely to stay with a company long-term.
Showing that your business cares for environmental and social issues makes the employees feel proud to work for such a good company and gives them more incentive to do the best at their job every day.
A Cause Marketing Strategy Benefits Everyone
When you are ready to make a positive difference for your business, your customers, your employees, and your community, Mid-West Family can help. It starts with letting the public know what your brand stands for.
Contact Northern IL Mid-West Family today to see how we can help you with your cause marketing campaigns!
