Brands have been aligning themselves with positive causes for many years, and seeing a positive impact on their bottom lines when they do so. Reports show consumers are more likely to switch brands, if comparable in price and quality, to one that supports a social cause. Consumers are also more inclined to recommend these brands.
A study by public relations company Edelman, which looked at how consumers around the world interact with brands that promote a social purpose, found that in 2012, consumers considerably redoubled their focus on buying from societally engaged brands.
There is also evidence that many of those who choose to buy from cause-supporting brands are doing so more frequently. In 2010, 67% of respondents reported buying from such a brand at least once a year. That number held relatively steady in 2012, at 66%.
For a brand that wants to align itself with a good cause, there is plenty of incentive. Where cause marketing may become trickier is homing in on that initiative—engaging with a cause that is authentic to the brand and persuasive to the consumer—and then communicating the role the brand is playing in making a real impact. Read More…
Does your company support a social cause?