Should Your Company Engage in Cause Marketing? Here's What Consumers Think
Cause marketing is good marketing according to a recent study.
The marketing research firm Toluna conducted a survey of 1,000 U.S. adults and here's what they had to say:
- Almost half felt that "it's a great way to bring attention to different national or global issues."
- Over half said their favorite way for companies to engage was to "donate some portion of their revenue to a recognized charity."
- The most popular cause was "hunger, homelessness or medical relief" followed closely by "education."
- A significant majority favored domestic causes over international causes.
- Nearly two-thirds said they regularly or sometimes sought out brands that support certain causes.
- Most said that it does not impact their willingness to purchase if they don't agree with the cause.
- But almost half of millennials surveyed would seek out a brand that aligned with a cause they agreed with.
- Millennials were a little more skeptical of cause marketing, but still 80% were not skeptical.
- Almost half of the millennials surveyed said they would spend time researching brands to see what causes they support and would be willing to pay more for these products. And 30% would even sacrifice quality for a good cause.
Once again, the surveys show that cause marketing should be a critical part of a brand's activities. And according to this survey, any cause marketing is worthwhile, but apparently the best thing to do is target millennials, use your revenue to make donations, support hunger, homelessness or medical relief when possible, stay domestic, and let the public know what you're doing.