A recent study of 6,000 consumers in ten countries reveals that 57% of those surveyed have purchased a brand in support of a cause or charity, according to a story published by Marketing Daily.
A majority of consumers assert that they have chosen a brand—even though it wasn’t the cheapest option—because of the social responsibility or cause supported by that company.
Implications: Even in a volatile economy, it may not be enough to fine-tune the values offered by your company; it is always important to consider the values held by your consumers. Which causes are inherently supported by your company’s customers and prospects? In what ways might you support the charities that are near and dear to your customer’s hearts?
Remember, not all cause marketing has to focus on fund-raising or charitable contributions of cash; we suggested that you consider “Experiential Philanthropy” in an Elm Street Trends blog posting earlier this year.
When your company considers its’ value proposition, are you considering the values of the constituents you serve?
Mike Anderson
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