Being involved with a charity as a business doesn’t have to be just an expense, it can actually be a key part of your marketing efforts.
Here we’ll outline how cause marketing boosts brand awareness, along with actionable steps that businesses can take to get involved right away. By the time we’re done, you’ll have a good feel for how cause marketing boosts brand awareness for businesses like yours and how to conduct a successful cause marketing campaign. Let’s go ahead and get started by talking about why cause marketing is important:
1. Creates a Positive Brand Image
Associating your business with a cause creates a positive brand image in the minds of consumers and the community at large. Locals want to see businesses in the area give back to the local community and support causes that are close to their hearts. If your company runs a radio advertisement in association with a local children’s hospital, for example, it will reinforce the message that your business isn’t just there to turn a profit but to do good as well.
2. Increases Ability to Attract Customers
There are actually quite a few marketing benefits to associating your brand with a cause, mainly in the form of additional media exposure. People today are more socially conscious than ever about consumer decisions, and love seeing evidence of businesses giving back to the local community. How socially-conscious a business is can often be an important factor in their purchasing decision.
3. Helps Attract and Retain Employees
Not unlike customers, job seekers and current employees feel more engaged at their jobs when they feel like they are contributing to a cause. Being part of a business that gives back is attractive to both potential employees and future ones. In fact, 6 out of 10 millennials cite their employer being involved in a cause as an important factor in deciding where to work.
4. Increase Exposure to New Audiences
If the cause you choose to be associated with isn’t a perfect fit with your target audience, that’s OK. The cause you support may or may not be associated with your ideal audience, but that doesn’t mean it won’t be an effective marketing tool. New audiences will be further exposed to your brand, increasing awareness to these audiences that your regular marketing isn’t reaching.
5. Contribute to Increased Sales
Cause marketing can also be a key contributor to boosting your sales figures. A recent study found that 84% of consumers globally seek out ethically produced products whenever possible. The same study found that 90% of consumers say they would switch to a brand that supported a cause, assuming price and quality were roughly similar. The lesson is not to underestimate the financial impact and ROI of cause marketing for your business. Consumers love to feel good about purchasing products or services that contribute to a cause, and this can have an immediate impact on your bottom line sales.
Now that you know how cause marketing boosts brand awareness, you’ll be able to go out and find some great causes and charities in your community to support. By engaging in cause marketing in your local area, you’ll be able to generate great results for both people and profits.