Cause marketing, by definition, is when a for-profit corporation partners with a non-profit organization and both benefit from this mutual partnership. This may take the form of partnering in a social cause or sponsorship, etc.
But while this is all good and rewarding, what is the real goal of cause marketing? And how should your business go about it?How can companies determine what they should do and what cause and non-profit they can align themselves with?
To solve this, companies must first revisit their mission statement and core values. Examining what these are and what they mean will help a company strategize. This is important, because companies can find causes that align with their core values and mission.
One example of a successful cause marketing campaign is the 1,000 Playgrounds in 1,000 Days in which Home Depot and KaBoom partnered and had their employees volunteer to build playgrounds for children within walking distance of their homes. Another example is when Whirlpool provided a range and refrigerator for each Habitat for Humanity home. The result? brand loyalty was achieved.
But cause marketing also happens internally.
It is also true that making a profit is the company’s first goal. Business owners start their own businesses when they see they can meet a need or provide the service they see is lacking, or improve upon an existing service or product. Businesses must make a profit to stay in business.
Cause marketing can begin from the inside with HR, as they try to attract the best candidates to the company. Hiring the best candidates and having people employed is the first step in a company reaching its goals. Then having those candidates live up to the mission and core values of the company. Being ethical within must come first before external cause marketing occurs. Better employees equals better ambassadors.
After all, companies need all the marketing they can get to help them make a profit to stay in business. From a purely business standpoint, there is nothing wrong about profiting from a service or product that you or your business is providing and that meets a need.
So, cause marketing begins from within.