Opportunities. Cause Related Marketing Sponsors.
Many people are receptive to new ways of giving to charity. Giving the public the opportunity to buy and donate at the same time looks like a marriage made in heaven. As a result many manufacturers are trying out Cause Related Marketing initiatives – giving cash to charity from product sales and building brand awareness at the same time. Business in the Community is convinced that cause related programmes “make a long term deposit in the bank of affinity and goodwill for brands and companies.”
In a recent study of 2,000 people, it was discovered that 81% would be more likely to buy a product that was linked with a cause and 85% said that they would also have a more positive image of a company that was linked with a cause. It was also found that 67% of people thought that more companies should be linked with a cause. As brands become more critical, people are looking for something more from products. Eight out of ten consumers say that if price and quality were equal, supporting a cause makes a difference to them. They want to help make the world a better place.
Cause related marketing has other benefits too: build reputation, enhance image, demonstrate values, provide brand differentiation, add value, generate PR, significantly increase sales.
The initiatives that do really well are the ones that are based on integrity, transparency and material benefits. They have to be sincere and have a link with the cause. The feel good factor is on a lot of people’s shopping list and, to the delight of both worthy causes and big businesses; it looks like staying there for some time.
As a Cause Related Marketing sponsor of the Pink Ribbon Foundation companies have the opportunity to produce a new product or use an existing product as a vehicle to raise money Foundation via a percentage of the on sale price. There is no guaranteed amount to be raised and all monies raised from sales are paid directly to the Foundation following completion of the on sale period or at regular intervals if an ongoing initiative.
A huge thank you to all our CRM partners.