Did you know that cause sponsorship was predicted to reach $2.23 billion in 2019, which equated to an increase of 4.6 percent in 2018? Cause related marketing is a growing industry and cause based marketing is not only good for your bottom line, but also for the betterment of society.
Are you thinking about investing in cause-related marketing? Keep reading to learn everything you need to know about this type of marketing.
What is Cause Marketing?
Cause marketing is typically a marketing effort put on by a for-profit business in collaboration with a non-profit organization. Cause marketing is also the term used when a for-profit company leads a charitable cause. You can think of this type of marketing as when business and social good come together.
Why would a company want to take part in cause marketing? Companies often have corporate social responsibility pledges in order to give back to the world. This is one way that a company might work to fill that corporate need.
In 2018 donations by companies increased, while individual donations decreased. This means that cause marketing partnerships are more important than ever.
Nonprofits partner with for-profit brands in cause based marketing efforts to elevate their organization, increase awareness for their cause, and raise funds. Cause marketing efforts can lead to free press for both the nonprofit organization and the for-profit business. It is often a win-win situation for all parties involved.
How to Start Cause Marketing Programs
Cause related marketing is a method to get behind. If you’re a non-profit this is a good way to find donors and build donor relationships. If you’re a for-profit business its a great way to increase ethical contributions to your community.
Start your cause marketing program by creating your strategy. Your strategy should include a cause, a specific nonprofit, or a company that you will work with. Try to work in tandem with the nonprofit or for-profit business so that your goals and strategies are aligned.
Now it’s time to create your tactics. How will you reach your target audience? It is essential to select the proper communications channels for your campaign to reach the right people.
Tactics may include events, digital marketing, direct mail marketing, and/or traditional earned media. Work to find the best platforms for your organization and needs.
Once your strategy, goals, and tactics are laid out it is time to start promoting. Use emotional ties to attract your audience. Create compelling content for your campaign to engage potential donors for your cause.
After your initial campaign launches, it is important to measure and benchmark your success. Take these learnings and use them in the strategy for your next cause based marketing campaign.
Get Involved in Cause Related Marketing
Now that you understand what cause related marketing is, it is time to get started. If you are looking to work with an organization that works from the heart to help you meet your goals while changing the world, The Legacy Theory is here to help.
Contact us today to start leaving a legacy! We are excited to partner with you.