Debra L. Bruce, JD, PCC.
More accurately, it’s for two good causes: your bottom line, and the promotion of a charity or social cause that you believe in. I’m talking about “cause marketing.” Cause marketing (also known as cause-related marketing) has been defined as a partnership between a company and a non-profit organization that increases the company’s sales while raising money and visibility for the cause.
An early and often cited example of successful cause marketing involved raising funds for the restoration of the Statue of Liberty in 1983. American Express pledged a one-cent donation for every transaction made by its cardholders. American Express donated $1.7 million to the restoration, and experienced a 28% increase in card usage, creating a win for both organizations.
Cause marketing works best when there is an obvious link between the company and the cause. Bayer Aspirin paired up with the American Stroke Association to raise money for ASA and to educate the public about strokes. Bayer’s sales increased 9% over the same month in the previous year.