The current economic crisis is changing how people think about spending their money. Consumers are being conscientious about which brands they want to support. They are spending more time at home and are learning about brands on television and social media.
As they see others in positions that are less than desirable, consumers want to help. Sometimes they want to help but either don’t know how or don’t have the financial ability to do so. Here is where your business can play an important roll!
Are you already helping others out as part of your new business model? A lot of businesses are pivoting their marketing to reflect this. According to Cone, 87% of consumers are more likely to purchase a product if they know the company behind it supports the causes and beliefs that they care about. 90% of shoppers are likely to switch to a cause-branded product according to Forbes.
When it comes to your employees, morale is more important now than ever! Benevity has found that there is a 57% drop in turnover when employees are connected to their companies’ giving and volunteer efforts. A whopping 82% of employees have more confidence in companies with a strong sense of purpose!
Are you encouraging your employees to volunteer while they cannot be physically at work? While selling a meal, do you give the consumer the chance to donate one to a first responder? Did you donate your PPE to local medical professionals when it was needed the most? Are you taking extra precautions to keep not only your customers, but your staff safe?
These are examples of what consumers want to hear about your business! Now is the time to pivot your marketing to “Cause Marketing.” This means that rather than your business or product taking center stage, you are promoting the good that your business does.
Some national examples you may have seen of this include Dial Soap. Their new messaging includes PSAs for washing hands. According to Forbes, their company has seed ad impressions grow by 25% a day! This ad on Facebook focuses on the steps needed for proper hand washing rather than a direct pitch to their product.
Nike has launched a series of ads that promote the importance of playing inside – including the slogan “Play inside, play for the world.” While they are not referencing direct charitable work, it is still considered Cause Marketing because they are showing how you can help the greater good. Nike harnessed their celebrity endorsements to also run a series with this message on their own social media.
Mark Cuban pledged to pay his hourly game-day employees they wages they would have earned had the basketball season not been suspended. He plans to ask those same employees to do volunteer work in exchange. Many sports teams continued to pay employees, but the Mavericks were in the news with the plan to include volunteer hours!
So as we continue to embrace our “New Normal,” now is the time to think about where your brand will fall in the minds of your consumers. Share your cause and consumers will share it with you!