Cause Related Marketing - Marketing for charity or a good cause.
Cause Related Marketing not only feels great but can also help grow your company.
The Cone Millennial Cause Study in 2006, found that 89% of Americans aged 13 to 25 would switch from one brand to another brand that was associated with a good cause. (Source: CRS Wire)
There are many benefits to a cause related marketing campaign:
- Increased sales- Media attention- Attraction of good employees- Customer loyalty- And the most important, giving back to the community
However, you will not get a charitable tax deduction for cause related marketing, instead you may deduct these activity expenses as marketing expenses on your tax returns. Check with your tax accountant for more details as I am not a tax accountant and am not able to properly advice you.
The holidays are a perfect time to take advantage of Cause Related Marketing, because everyone is in the mood to give. There is more than one way to implement charity marketing in your company.
The holidays are a perfect time to take advantage of Cause Related Marketing, because everyone is in the mood to give. There is more than one way to implement charity marketing in your company.
Here are some steps to help you create your Cause Related Marketing Campaign:
1) Choose a charity or good cause that you are interested in and is related to your company or the time of your campaign. For instance, if you are a restaurant you can conduct a food drive for the homeless. Or if you are a jewelry store you may still provide a food drive during Thanksgiving.
2) Contact the charity or good cause that you are going to collaborate with to make sure you have their permission and fulfill any requirements they may have.
3) Check with your local government to research any restrictions, laws or permits you may need to conduct your charity marketing. The city of Orlando had a restriction where you could not feed more than 25 homeless people. Thank goodness, the Supreme Court ruled it unconstitutional.
4) As all marketing campaigns, prepare, prepare, prepare. Have a well planned out campaign and treat it as you do all your marketing campaigns.
5) Contact the media. The media love Cause Related Marketing activities. What is better than a feel-good news story? With the right actions on your part, you can get lots of free media exposure.
6) Track and Analyze. Just like all marketing campaigns, you have to track and analyze your efforts. If it is not working out then you may need to stop. Giving is great but you need to have a thriving business to be able to afford to give. If you go out of business, you will not be helping anyone. Make sure it is a win-win situation.
7) Pat yourself on the back for being a good person. Doesn't it feel good to give? Here is a link to the The Cause Related Marketing Halo Awards. See there are people that appreciate your efforts to help the community.
Now go and help your community. God knows it needs all the help it can get! Use all different ways to implement this type of marketing. Be creative, have fun and remember it is a good thing what you are doing.
