Doing good in Lancaster County can set your business apart, win customers, and grow business.
Did you know that 90 percent of customers report they would probably switch to a brand with similar products or pricing if that brand supports a good cause? Consumers today know how to vote with their pocketbook, and more and more are choosing companies that support the causes that resonate with them. The numbers get even more impressive among Millennials.
Millennials expect their business choices to align with cause-related concepts:
- In a Barkley report , 42 percent of Millennials said they’d buy products or services if their money in part helped a cause. 35 percent said they’d also donate money directly to the cause.
The implications are clear. Cause marketing is not only a powerful way to give your company a competitive edge, it also can be a positive way to contribute to your community by helping others.
Cause Marketing: What is it?
Cause Marketing can be defined as what happens when for-profits team up with non-profits in a way that benefits both. When it’s done right, Cause Marketing results in increased brand awareness and greater customer loyalty. Non-profits benefit from the time or talent of your support.
Choose a Cause You Care About
How can you make Cause Marketing part of your business plan? First off, choose a cause you care about. Make sure that your business and your Cause Marketing align with your personal and professional values. By staying true to who you are and what your business stands for, you are in a good position to communicate credibly and authentically to your customers and prospects.
Before you start using business time and money to support a cause, you should evaluate if the cause is are open to your sponsorship:
- Meet with the organizers and tell them about your desire to create a partnership that helps them succeed. Find out if they have ideas on how to promote your support.
- Some causes are open to sponsors. Other are not. Make sure your cause wants to work together before you make any commitments.
Match the Cause with Your Business Goals
Regardless of how you promote your cause, the key is to find a cause that makes sense to you AND your customers:
- For example, if you sell children’s clothing, it would make sense to partner with a local youth program, youth sports, children’s events or programs that work with at-risk children.
- You could make contributions in merchandise donations, encouraging customers to donate, promoting the cause in your store and in your advertising, or by supporting events with donations.
Tap Into Existing Partnerships
When does it make sense to tap into partnerships and when should you go it alone?
- Maybe your team is small enough that Cause Marketing is too much to take on. Conversely, you may be so large that supporting just one cause is too limiting.
- You may also be working with a cause that has a well-established role for sponsors, or one that doesn’t want to build a custom program.
- The good news is that tapping into existing partnerships requires much less time and effort.
The downside is you may have to share the spotlight with other businesses. Either way, as long as you clearly communicate your support to your customers and prospects, you’ll still reap the benefits of Cause Marketing.
Find Out if We Can Help with Your Cause Marketing
LNP Media Group is continually growing and adding new, exciting technologies to our suite of marketing and media products. We also offer sponsorships to select cause-marketing events. If you haven’t talked to us lately, contact us today.