If you thought business was all about money and monetary gain, then you are wrong. If you wish to see a business heart and soul, then cause-related marketing is the best example where the corporate world steps forward. The notion of businesses joining hands with charities to market an image, product or service is not a new one. Moreover, you would not be surprised to know that the biggest platform to promote altruism is most definitely sports. You may have come across some basketball videos that promote some cause along with the basketball skills needed for the grooming of the player.
This type of marketing is more popular in today’s world as pleasing the consumers has become really hard. In this scenario, a company’s commitment to a worthy cause can build brand loyalty unlike any other form of promotion. Consumers like to support the business that stands for something beyond profits.
As for the company’s perspective, cause-related marketing has a powerful edge. It is not just a cornerstone for the promotion plan, but also highlights the reputation of the company. While there are many other competitors in the market, cause-related marketing differentiates you from the rest in a positive way.
The businesses tend to choose a cause that they can personally relate to. If a business involves itself in a cause that it is passionate about, then it can successfully merge it with its profit center. At times it is a hit and miss affair. Sometimes, your affiliation with the cause tends to develop goodwill among the consumers, but sometimes the target market doesn’t register it. In any case, media attention that comes along will be a welcomed treat.
One of the cause-related marketing campaigns that became a hit was in 1976 when there was a partnership between Marriott Corporation and the March of Dimes. Though the objectives were separate, the promotion exceeded all goals and became quite successful. Marriot Corporation had an aim to generate public relations and media coverage for a grand opening of a massive family entertainment center. Whereas, the March of Dimes intended to increase fundraising by motivating the collection of pledges on the program’s deadline.
The event was conducted in many states throughout Western United States. The campaign was super successful and provided free publicity and the record-breaking opening to the Marriot entertainment complex, as was intended. This was the first time cause-related marketing proved its worth, but there are many other instances when businesses heavily invested in this form of promotion after this.
Another pioneering instance after which cause-related marketing became popular was the campaign of 1979. The campaign was initiated by Rosica, Mulhem & Associates for Amos cookies. In this, Wally Amos came forward as a spokesman for the Literacy Volunteers of America. They alerted people of the illiteracy problem and this strategic cause-related marketing really helped Amos.
To sum it up, cause-related marketing yields mutual benefits. Despite the fact that the partners do not always have the same agenda, this form of promotion has something good in store for all.
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