Cause-Marketing Increases Profitability While Bettering Society
Today, most companies have cause-marketing initiatives to attract new customers while also bettering society. This year, a company made two (2) six-figure donations to one of my clients. Their intentions are to partner with the charitable organization to enhance the company’s marketing and communications efforts, while expanding the reach of the non-profit. Corporate funding proposals that I develop are intended to help the company attract new customers. It also encourages employee involvement with the non-profit in the communities where they do business. There’s a lot of research on corporate support of a non-profit and how this support attracts and/or retains customers. The research is conducted by Cone Communications and they conduct this research every 3 - 5 years. Their data is collected from rural, urban and suburban U.S. residents. We also know that rural people are even more philanthropic. Thus, we can extrapolate that these percentages are even higher for rural Americans.
Cone Communications has been conducting cause-marketing research for nearly a quarter century. Some key findings in their most recent study include:
92% of Americans say that they have a more positive image of a company when it supports a cause or an organization they care about.
89% of Americans would switch brands to one that is associated with a good cause, given similar price and quality.
88% of Americans are more likely to trust and would be more loyal to companies that support causes.
87% of Americans make purchase decisions about where to buy and what to buy based on the extent that a company supports an issue.
87% of Americans consider the importance of a company’s responsible business practices, including investing in causes in local communities and around the globe.
81% of Americans would recommend a company’s products and services to their family members and friends, based on a company’s commitment to educational, social and environmental issues.
Today, corporate sponsorships are more connected to a company's marketing efforts than ever before. Consumers are savvy and they want companies to support causes that they care about.