What is cause marketing?
According to Wikipedia, cause marketing “refers to a type of marketing involving the cooperative efforts of a “for profit” business and a non-profit organization for mutual benefit” (http://en.wikipedia.org/wiki/Cause_marketing).
It is a broad term that can be applied to many specific situations:
Think of it as advertising with a twist. I saw a statistic once that claimed 79% of Americans are willing to change their brand if they know a portion of their purchase will go to a “cause.”
Businesses have been doing this for years; in most cases the cost is low and the return is high.
While nonprofits have been the recipient of funds generated through cause marketing, nonprofits usually do not initiate cause marketing due to self-limitations placed on “fundraising.”
Overall, Cause Marketing is a WIN-WIN-WIN:
For less than the cost of a newspaper ad, the business gets advertising, exposure, and hopefully new customers and increased sales.
The nonprofit receives the funds generated.
The customer even feels good about purchasing from a cause-minded business.
As business advertising budgets shrink and nonprofit funding decreases, cause marketing seems to be a potential solution for both.
At least worth a try 🙂