Corporate responsibility is more than a line item on an annual report. It is a fundamental part of brand development, establishing credibility and longevity. Big names like Apple, Ben and Jerry’s and eBay have made social causes integral to their business model. When executed correctly, it can mean amazing things for your business. Below are four benefits of cause marketing for your organization:
Maximize Brand Awareness
Brand awareness is a key concern for businesses and nonprofits alike. The more people know about your brand, the better your chances for conversion. Social causes provide an additional channel for content, connecting your brand to a new audience. They are also an excellent way to promote your brand’s core values. This puts your brand at the top of mind of consumers outside of business transactions.
Build Profitable Partnerships
The days of stand-alone, super brands are over. Consumers want businesses to engage in global conversations. They expect brands to combine forces to solve difficult problems. Partnering with nonprofit establishes your brand as a changemaker. It also extends your reach. However, make sure the partnership makes sense for your business. Avoid situations such as this Fracking For A Cure initiative.
Increase Brand Loyalty
Consumers have more options than ever before. This power of choice makes customer acquisition and retention difficult for businesses. By aligning with a social cause, companies connect more deeply with their customers. The deeper the connection, the stronger their loyalty to the brand. Again, the cause needs to make sense for your brand and should feel authentic. Disingenuous cause marketing is a recipe for disaster. Just ask these three corporations.
Create A Meaningful Legacy
Profit and sustainability are the primary goals of most businesses. While these are reasonable goals, businesses that weather the storm of change and time are those that focus on building a legacy. How do you want your company to be remembered a decade from now? How about in 50 years? 100? Even if a company itself fails, its impact can last a lifetime. Cause marketing can be more than another tactic to boost your business. It can be a way to create an enduring legacy that matters.
Cause marketing is just one way to boost your brand. It is important to remember that this strategy should not be viewed as a one-time promotional tactic. It also should not be viewed as something that can be used to transform a business overnight. Cause marketing is a long-term investment that when implemented correctly, can have lasting benefits. Learn more about launching an effective cause marketing campaign in next week’s blog post.
Ready to launch your cause marketing campaign? Contact Choice Premiums at 478-741-8888 or firstname.lastname@example.org.