For both companies and nonprofits, the decision to explore and pursue cause marketing is significant. It takes time, resources and dedicated staff to lay the groundwork – and it often requires months if not years to truly make them successful. But when they work, these relationships can not only help differentiate your brand from the crowd and increase consumer loyalty; cause alliances can also drive significant sales, increase donations and make a real difference.
The first step of this process is obtaining internal buy-in from your organization’s leadership and various departments. To do that, you need the right data to make your case. For Momentum frequently scans the marketplace for the latest research and we offer the most relevant information as a free resource. There is no shortage of statistics about consumer opinions and motivators when it comes to supporting causes. In this post, we have narrowed the extensive list down to five key cause marketing drivers that anyone can use to help convince your internal stakeholders to consider cause alliances as part of your marketing strategy.
1. IT IS A BILLION DOLLAR ENDEAVOR AND SPENDING CONTINUES TO RISE
According to the latest study by IEG, cause sponsorship is predicted to reach $1.92 billion in 2015, a projected increase of 3.7 percent over 2014.
2. CONSUMERS WANT TO SUPPORT COMPANIES AND PRODUCTS THAT SUPPORT SOCIAL CHANGE
According to Edelman’s 2013 Brandshare study, 92 percent of people want to do business with companies that share their beliefs, and 4 in 10 want companies to do more to give back to the community.
3. AS ONLINE GIVING INCREASES, SOCIAL ACTIVATION CONTINUES TO GAIN GROUND
Cone’s 2014 Digital Activism Study found that of those who made a donation in the last 12 months, nearly four-in-10 did so via digital channels, such as online (27 percent) or via mobile device (11 percent), while 23 percent did so via regular mail. We have seen how social media plays a critical role in giving from the exponential growth of #GivingTuesday to the off-the-chart success of ALS’s Ice Bucket Challenge.
4. TRIED AND TRUE TACTICS STILL DRIVE RESULTS
More than $358 million was raised in 2012 by an elite group of 63, million-dollar-plus charity checkout campaigns identified by Cause Marketing Forum. In aggregate, these large point of sale donation programs have raised more than $2.3 billion in 29 years. A great example of long term success is Kmart’s partnership with St. Jude, which has raised nearly $60 million in 8 years.
5. REGARDLESS OF WHAT ACTIVATION FITS YOUR PARTNERSHIP GOALS, CAUSE ALLIANCES CAN HELP YOUR BRAND CAN WIN WITH CONSUMERS
According to a 2013 study from Cone most American consumers (93 percent) say that when a company supports a cause, they have a more positive image of the company. US consumers also say they are more likely to trust (90 percent) and be more loyal (90 percent) to companies that back causes.
If you are looking for more details about how your target audience or specific demographics respond to cause marketing, we have compiled an extensive list of data points to help you further. Check back often as we keep this data updated throughout the year! Do you know of any new data that should be included here? Please drop us a note and we would be glad to review it.
