The Ins and Outs of Cause Marketing

Marketing tactics are always evolving. They tend to sway the way of consumer behavior, and cause marketing is no different. Today’s consumers are concerned with how their behavior in the marketplace impacts society. Defined by MailChimp, cause marketing is a “collaboration between a for-profit business and a nonprofit organization for a common benefit.” And Intermark Group notes that “consumers are four to six times more likely to trust, buy, champion and protect companies with a strong purpose over those with a weaker one.” Have you considered cause marketing strategies for your small business? If not, we’ll cover some of the basics so you can learn how to incorporate new tactics into your company.

Belief-driven buying essentially means that customers are choosing to buy directly from businesses that share a common cause. This could be a running gear company sponsoring 5K runs for cancer, or Warby Parker’s Buy a Pair, Give a Pair initiative. Businesses know that it pays off to show the community their support for causes. What are a few of the benefits of cause marketing, aside from helping your community (or the world) be better? Let’s dive in. 

Brand Image Boost 

Not that your brand needs an image boost, but adding cause marketing to your repertoire can serve to toss your business into a favorable light. You’ll be appealing to customers who share the same value sets as you, plus you can help bolster the relationships you’ve got with existing customers by showcasing your commitment to a cause. After all, customers are more likely to spend their money at a business that’s “committed to making the world a better place,” according to Harvard Business School.

Helps You Stand Out 

Consumers have a lot of choices—so many that it’s often difficult for them to choose where to buy from. But if you’re appealing to the majority of customers who want their purchasing power to make a difference in the world, then cause marketing is a key strategy to helping your business stand apart from the rest. And you shouldn’t be shy about the causes you’re backing: Post about your initiatives on social media, in emails and newsletters, and on your company website. Market your mission!

Increases Employee Morale 

Not only is cause marketing a boom for the world and your customers, it’s also great for employee morale. Workers want to know they’re standing behind a company that champions positive change. It means they can be proud of their workplace. And as reported by PwC, reputation really does matter: “Millennials want their work to have a purpose, to contribute something to the world and they want to be proud of their employer. The brands that appeal to young people as consumers including those that stress their environmental and social record, are the same brands that appeal to them as employers.”

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