*information according to Brighter World cause marketing
Well, what's really working? "cause marketing," and you'll find plenty of research that confirms it: People want to buy from companies that "do good." Yet a great deal of cause marketing fails to make an impact. The issue is that often people find cause marketing to be confusing at best -- and flat out dishonest at worst.
2. Cause Marketing Market Research - 40 Pages
Another phenomenon cause marketing is often confused with is sales promotion. The offering of an economic incentive to motivate consumers to engage in revenue exchange relationships with the company, the salient feature of any sales promotion activity, is not the characteristic of cause related marketing; rather it is the contribution by the company to the associated cause when a consumer engages himself in such exchanges. Therefore, cause marketing, if at all, is somewhat a middle ground between range of activities aimed at positively affecting business (sales promotion) and those based on purely altruistic considerations (corporate social responsibility) and thus a distinct, rather shrewd strategy in itself.
Walmart and Sam’s Club have both supported the Children’s Miracle Network Hospitals for over 27 years and in the process they have managed to raise over $750 million in donations. For six weeks of the year, Walmart employees solicit donations for the cause from customers at checkout. For a dollar donation or more, consumers can put their name on a Miracle Balloon or dedicate it to a loved one. In 2012, this effective cause marketing example was calculated to raise an astonishing $122 per minute.
When companies and causes successfully collaborate on a strategic, mutually beneficial commercial effort (what we refer to as cause marketing), they can make a difference in tackling a societal problem and generate loyalty, attention and patronage from consumers, employees, investors and opinion leaders.Over the next few months, we’ll celebrate the 10th anniversary of the “Halos” by exploring the best of the best in a series of blog posts. This week, we look at some of the winners of our top business honor. The Cause Marketing Golden Halo award goes to one company each year for its leadership in mixing cause and commerce.Each year the Cause Marketing Forum recognizes businesses and nonprofits that lead that lead the pack in creating programs that produce financial and social dividends. The winners of our demonstrate the potential of embracing a “doing well by doing good” mindset.A cause marketing pioneer for more than three decades, Procter & Gamble focuses its corporate social investments on supporting disadvantaged youth and providing relief when disaster strikes. Brand campaigns include: Pampers 1 pack=1 vaccine initiative, protecting 100 million women and their babies against maternal and neonatal tetanus since 2006; Tide Loads of Hope, a mobile laundromat sent to disaster-stricken areas to wash, dry and fold clothing for free; and Dawn's Everyday Wildlife Champions that donates product and funds to help clean wildlife affected by oil spills. Melanie Healey, Group VP for North America, will share P&G’s giving philosophy at the May 2012 in Chicago.2010 - Instead of pulling back on cause marketing efforts when the recession hit, Macy’s deepened its programs. In 2010, the company, its foundation, employees and customers contributed $60 million to causes through partnerships with the American Heart Association, Feeding America, Make-A-Wish Foundation, National Park Foundation, Is Fundamental and many other groups. Many Macy’s cause initiatives reward consumers with a savings certificate in exchange for a donation. Redemption rates for those coupons are consistently higher than for promotions that don’t have a cause element.In this new era of social responsibility, what you don't do can cost you. "Cause marketing" is now the norm, and customers who visit your website and see your advertising want to know that you share their desire to make the world a better place by supporting an important cause.When we draw up our next short list of outstanding companies engaged in cause marketing, who do you believe should be included?Step 3. Contribute more than dollars.
For many types of businesses, cause marketing involves donating products or services and not simply writing a check. This can help form even stronger consumer associations between what you offer and the good work you do. My own firm, for instance, works hard to support two local groups--a shelter for homeless women and children, and an organization that helps cancer patients pay their rent and other bills while undergoing treatment. As a marketing expert, I contribute services that include producing an annual Woman's Hope benefit concert and direct-mail and public relations campaigns that in the past eight months have netted approximately $250,000 for these nonprofits.Step 1. Give from the heart.
Cause marketing works best when you and your employees feel great about the help you're providing to a nonprofit group. So work with an organization you and your team believe in, whether that means supporting the fight on behalf of a national health issue or rescuing homeless pets. What matters most to you, your team and your customers? You'll work hard to make a difference when you give from the heart.Step 5. Mount a marketing campaign.
Success in cause marketing often means motivating an audience to take action, such as making a donation or participating in an event.. Using a dedicated marketing campaign, you can reach and persuade the target group while also raising awareness for your business and its commitment to social responsibility. For example, to enhance its relationship with the black community, State Farm created the 50 Million Pound Challenge to educate blacks about the risks associated with being overweight. A special Challenge website was created to provide ongoing advice and support, and has helped hundreds of thousands of people lose weight.