Nowadays, many companies are trying to enter the cause marketing to promote their products as well as take the social responsibility. In my opinion, there are 3 key factors should be firstly considered.
Keep Customers In Mind
You should consider customers’ interests when associating our products with cause marketing. Since only when customers are interested in our products, they are more willing to make a purchase.According to a new survey for Cone LLC, finds 83 percent of the respondents agreed that they would like to support more products with meaningful causes. And 81 percent want companies to provide them the chance to buy a cause-related product. These figures indicate customers’ willingness to purchase the cause-related good. Another example is the success of Pink Ribbon Campaign. Customers are quite interested in buying pink shoelaces and yogurt in the special pink-labelled container because money will go to breast cancer research. So if we can find a cause marketing plan which meets customer’s interest, our product will be very popular in the market.
Pay Attention to Employees
Except from bearing customers in mind, you also need to ensure our employees play an active role in participating in the cause marketing plan. Therefore, your plan will become more effective. A new study (from Cone LLC) shows 81 percent of employees support companies to offer matching grants to the community and more than70 percent are willing to dedicate their paid time to volunteer and paid sabbaticals. Another example is the success of CIBC’s run for breast cancer donation. Since 70 percent of employees are female, they are much more enthusiastic about this event. Therefore, these female employees make the CIBC’s cause marketing more effective. These statistics and example illustrate it is important to realize employees’ value because of their contribution to company’s social
responsibility through cause marketing.
Focus on Local Causes
It is not only important for you to keep customers and employees in mind, but also crucial for you to focus on local causes before we set the cause marketing plan. Based on the survey for Cone LLC, 46 percent of respondents indicate firms should pay primary attention to local communities, whereas only 37 percent preferred a countrywide and 17 percent an international focus. That is to say most people believe developing the quality of life in local community is the most important when company target the potential cause marketing. Thus, you should restrict your target marketing within our own community, instead of expanding to a larger area. Through observing the most significant and meaningful social issue happened in local community, then it is easier for you to make the local cause marketing decision.