Benefits of Cause Marketing
Cause marketing entails a beneficial partnership between an organization and an NGO. The organization generates more profits from aiding the NGO and the NGO normally benefits from enhanced donations, either from the direct donations from the organization, or the enhanced exposure offered by the organization for that specific cause. Further down are more benefits of cause marketing.
1. Develops responsible brands
Organizations that align their services or products with charities usually get enhanced brand exposure that is positively viewed by other people. Responsible brands may even assist large and small business in creating a competitive benefit through the positive community image.
2. Increased employee interest
It has been recently showed that most employees prefer working for firms that support various causes. In fact, more than 70% of workers wish their managers would do even more actions with regards to supporting a cause. Cause marketing is therefore an excellent method of attracting good employees to your firm, which increases your overall productivity.
3. Customers value charitable partnerships
Most consumers are enticed to companies and brands that are commonly known for creating cause-linked relationships. High number of respondents in a certain study said that they wanted to have companies in their neighborhoods that are dedicated to the current social issues. Economic experts regard cause marketing as a method of endearing an organization to the consumers. Furthermore, it also enhances consumer loyalty.
4. Community benefits
The community benefits from cause marketing as well. Most organizations consider giving back to their communities as an important duty and they also do it happily. Being one of the community partners is a reverent method of conducting business and it is admired by the public, other competitors and employees.
The major demerit linked to cause marketing is that it requires lots of financial and time investment and this may be a considerable expense.