Cause marketing is a relatively new field in the marketing arena, introduced in 1976 through a partnership between Marriot Corporation and the March of Dimes.
What?
✔️A cooperative effort between a for-profit and a non-profit for their mutual benefit. Profit-generating, powerful global brands have the resources to raise awareness of non-profit organizations, while also promoting their product
Why do brands invest in cause marketing?
✔️In an increasingly busy and profit-driven world, big brands are taking an altruistic step back. In fact, 5% of the total charitable donations in 2015 came from corporations, a 3.9% increase from the year before.
✔️It increases brand loyalty, 80% of global consumers agree that business must play a role in addressing societal issues.
✔️Product differentiation, when quality and price is equivalent, social purpose is the number one deciding factor for shoppers globally.
✔️Rise in Net Income, 42% of shoppers would pay extra for products and services from companies committed to positive social and environmental impact
What do you think, is Cause marketing worth it? Any example, would you like to share?
Comments