One of the latest buzzwords clamoring around the cybersphere is 'Cause Marketing.' And there is no shortage of opinions -- or definitions -- for the concept as marketers scramble to incorporate cause-related activities into their strategy, hoping to tap into the halo effects of a goodwill perception in response to overwhelming research indicating that this has become a key influencer in brand affinity, acceptance and buying behavior. Inevitably, the discussion leads to the dreaded 'P' word, which has become somewhat taboo under the auspice of corporate social reponsibility, where cause marketing operates as a function of an overall sustainable business culture vs. a standalone revenue-driving tactic. So, the question becomes if cause marketing as a standalone product is a viable model -- both culturally and profitably.
One of the latest buzzwords clamoring around the cybersphere is 'Cause Marketing.' And there is no shortage of opinions -- or definitions -- for the concept as marketers scramble to incorporate cause-related activities into their strategy, hoping to tap into the halo effects of a goodwill perception in response to overwhelming research indicating that this has become a key influencer in brand affinity, acceptance and buying behavior.
Inevitably, the discussion leads to the dreaded 'P' word, which has become somewhat taboo under the auspice of corporate social reponsibility, where cause marketing operates as a function of an overall sustainable business culture vs. a standalone revenue-driving tactic. So, the question becomes if cause marketing as a standalone product is a viable model -- both culturally and profitably.
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To help develop the framework for this discussion, I sought out Joe Waters, Director of Cause Marketing for Boston Medical Center and Founder of Six Figure Cause Marketing to dispel the myths and answer the critical question of whether cause marketing and profit can happily -- and responsibly -- co-exist.
How do you distinguish Cause Marketing with Green Marketing? Where do you think they overlap? In what scenarios would you recommend either or both?
Two different things. Cause marketing is a partnership between a nonprofit and a for-profit for mutual profit. Green marketing is the promotion of environmentally friendly products and services, or incorporating eco-friendly activities into your marketing practices. There is overlap, however. For example, Clorex and the Sierra Club have teamed up for a cause marketing partnership to launch a new line of Green Works cleaners that are made from plant-based ingredients. The Sierra Club receives a portion of the proceeds.
What do you think is the greatest misconception about Cause Marketing?
That cause marketing is not appropriate because donors often receive something in exchange for their donation. In the case of the Clorex Green Works products, consumers get a bottle of cleaner when they support the Sierra Club. But tying philanthropy to consumerism is just another way for donors to support their favorite causes. More importantly, cause marketing gives companies a powerful opportunity to support causes in a way that will generally exceed what they ever could have donated from the corporate checkbook. It's win-win-win. It's good for the company, the consumers and the nonprofit.Â
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