What does the Gold iPhone X, Gucci shoes and Susan G. Komen’s Race for the Cure all have in common? The answer — they were all created to support a cause marketing campaign. Cause marketing happens when a for-profit and a nonprofit brand come together to raise money or drive awareness for a cause or an organization. This year alone, cause marketing and cause-related sponsorships are expected to reach $2.06 billion, and it’s for good reason. Cause marketing is a significant win for both brands involved because it not only tugs at heartstrings, but it connects consumers with these campaigns and compels them to open their wallets.
- Cause-marketing campaigns not only effectively communicate the brand’s key messages, but they also have an impact on sales. In fact, according to a recent study conducted by Unilever, “33 per cent of consumers buy from brands doing social or environmental good.”
- Crafting a great cause marketing strategy requires sequential steps like,
- Finding out what the capabilities and limitations are and what synergies can make a partnership mutually beneficial.
- Having a clear understanding of what your brand represents, and your consumer’s expectations.
- Making sure that your employees and team support the partnership and are engaged in helping both parties meet their goals.
- Both partners must set a manageable plan for your campaign together and agree on key milestones and deliverables.
- Coca-Cola launched the Arctic Home Cause marketing campaign in partnership with World Wildlife Fund with the formulation of $1 donation on every Arctic Coke cans purchased.
- Similarly, the Miracle Balloon Campaign is a collaboration between Walmart and Children’s Miracle Network Hospitals, where Walmart employees solicit donations from customers during checkout for six weeks every year and allow them to place their name on miracle paper balloon and put it on the honour wall.
Consumers, particularly millennials, are increasingly looking to businesses as a force for positive social impact, and when brands engage in social issues, they are more likely to earn their trust and loyalty. This shift in perception and recognition of the role brands play is quite extraordinary, so how brands engage and why is more important than ever.
Source: http://www.marketing-schools.org/types-of-marketing/cause-marketing.html
https://doublethedonation.com/tips/blog/2017/04/cause-marketing-examples/
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