By Peter Gamache, Ph.D. & Jackie Sue Griffin, MBA, MS, Turnaround Life, Inc.
In 2016, cause-related marketing was a 2 billion dollar industry, and it’s safe to assume the number has only grown since then. Even though it’s not a new idea, cause-related marketing is gaining steam from all the nonprofit organizations that have understood its benefits.
There is a multitude of reasons for the good reputation of cause-related marketing. Today’s consumers want to hold businesses and organizations accountable for their societal and environmental impact. This type of marketing fits in perfectly with those needs, and nonprofits are a naturally good fit for it. Here are three ways in which cause-related marketing is beneficial for your nonprofit:
- It Helps Nonprofits Target Their Specific Audience
The beauty of cause-related marketing is that it helps nonprofits zero in on their intended target audience with laser precision. As one of the requirements for a successful marketing campaign, being able to reach the target audience is essential. Cause-related marketing will appeal to individuals who are already inclined to donate to a good cause.
It will also satisfy their growing expectations from organizations, which they think should care more about how they’re impacting our society and environment. Supporting a cause feels good, and cause-related marketing capitalizes on that in the best possible way.
- It Improves Press Coverage and Draws Positive Attention
Running a marketing campaign for a good cause and betterment of a nonprofit draws a lot of positive attention. While it is true that today many nonprofits and causes are fighting for their five minutes in the spotlight, press coverage can do wonders to raise awareness of an issue.
With cause-related marketing, this goal becomes more natural to accomplish. Even though nonprofits are using it more and also entering cause-related marketing partnerships with for-profit organizations, it is still an excellent way to cut through the noise. All you need is a good campaign to make a noticeable public impact.
- It Increases Nonprofits’ Fundraising Capability
Finally, all of these benefits translate into more donors and more funds for your nonprofit. With a raised public profile and a robust cause-related marketing campaign behind you, you’re sure to catch the attention of those willing to donate.
This particular benefit can’t be ignored, especially when almost every nonprofit is actively needing more funds to keep operating. While a cause-related marketing campaign might seem like an unnecessary expense, it will be an investment for a brighter future of your organization.
In conclusion, cause-related marketing and nonprofits are logical and natural partners. Cause-related marketing can help nonprofits catch the public eye, increase the donations they’re getting, and ensure that they’re targeting the right people for donations. With their mutual focus on the importance of a good cause, it’s safe to say that nonprofits will keep using cause-related marketing to elevate their impact on society.
Here at Turnaround Life, Inc., we aim to help organizations and programs that make it possible for people to turn their lives around. For more information about us, visit our website.