Cause marketing is kind of marketing wherein a for-profit business collaborates with a non-profit organisation to bring awareness and raise funds for a common cause. This helps a for-profit business to build a positive brand reputation, increase sales and build loyalty.
Take a look at these interesting trends and statistics that will help a for-profit business in planning their next “cause marketing” campaign.
1) 71% of millennials will pay more for a product if they know some of the proceeds go to charity
2) Nearly two-thirds (64 percent) of consumers around the world will buy or boycott a brand solely because of its position on a social or political issue they care about
3) Consumers are 64 percent more likely to recommend companies to their friends if the company is socially responsible.
4) People are willing to pay 6% more for a product from a socially responsible company.
5) A third of consumers (33%) are now choosing to buy from brands they believe are doing social or environmental good.
6) Nearly two-thirds of global consumers (62%) say they use social media to address or engage with companies around CSR.
7) 40% of consumers seek purposeful brands and trust in brands to act in the best interest of society.
Source: https://www.jcfoundationtrust.org.uk/blog/d5v2v9-cause-marketing-key-facts-trends
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