Cause marketing gives companies an unique chance to impact their own success by giving back - Vocus Chief Marketing Officer You Mon Tsang.
Beltsville, MD (PRWEB) March 06, 2014
Vocus, Inc. (NASDAQ: VOCS), a leading provider of cloud-based marketing and public relations software, today released “Boost Your Bottom Line With Social Good: The Case for Cause Marketing.” With this guide, readers will learn how to leverage cause marketing to appeal to a larger demographic, strengthen their company’s brand, boost employee morale, and increase sales.
A subset of corporate social responsibility, cause marketing is a way for companies to do social good. In “Fundraising for Business,” author Joe Waters says that cause marketing is “a partnership between a nonprofit and a for-profit for mutual profit. The partnership is win-win. The nonprofit raises money and awareness and the for-profit earns a halo that enhances their favorability with consumers, which may increase sales.”
According to Nielsen’s “2013 Consumers Who Care” study, 50 percent of consumers would be willing to pay more for goods and services if the company in question actively supported a cause and gave back to society.
With modern marketing, it is not enough for businesses to simply sign a check to a nonprofit and carry on making profits. Social good and cause marketing have to be integrated into the very fabric of a business. Social good must become part of the internal culture, and promoted to consumers in an authentic, transparent and tangible way.
“Cause marketing gives companies a unique chance to impact their own success by giving back,” said Vocus Chief Marketing Officer You Mon Tsang. “Smart brands will form mutually beneficial partnerships with non-profits in order to enhance their reputations and increase sales.”
Some key tips from the guide include:
- How Cause Marketing Impacts Brands
Although companies are in the business of making a profit, consumers would like to see them play a bigger role in society. However, the two are not mutually exclusive. In its “2013 Cone Communications Social Impact Study: The Next Cause Evolution,” Cone Communications found that “88 percent [of Americans] would buy a product with a social or environmental benefit if given the opportunity.”
- Implementing Cause Marketing
Businesses shouldn’t leap into cause marketing without looking first. They need to understand the relevant social and environmental issues, and how they can impact those concerns before considering a cause. Companies should also select a social concern that is relevant to them and to their internal and external communities. After thorough research, brands should select a cause that has potential to bring the most benefit to both the business and the cause.
- Overcoming Cause Marketing Challenges
There are many complexities involved in launching a cause marketing initiative. To lay the groundwork, marketers need to get internal support behind the chosen cause, create a plan, and most importantly, maintain transparency to constituents. Consumers demand proof that their support is making a real impact.
The “Boost Your Bottom Line With Social Good: The Case for Cause Marketing” guide is available as a free download here.
Vocus (NASDAQ: VOCS) provides leading cloud-based marketing and public relations software that enables companies to acquire and retain customers. The company offers products and services to help clients attract and engage prospects, capture and keep customers, and measure and improve marketing effectiveness. More than 16,000 annual subscription customers across a wide variety of industries use Vocus software. The company is headquartered in Beltsville, MD with offices in North America, Europe and Asia. For more information, visit http://www.vocus.com or call (800) 345-5572.
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