Many businesses look beyond the idea of profit and look to change the world for the better. Supporting a cause is one of the best way to do that, and combining that effort with marketing is known as “cause marketing”.
The problem many businesses face is how to actually enact that idea.
While making money is the primary purpose of your company, your greater goals should reach beyond mere capital. Making a social change and being a positive force in the world should also be on your to-do list.
Not only will it give you a positive mortal stance, it will help you relate to your target audience better. The problem you face is how you can best utilize your business’s resources to help the world.
Here are a few ways you can accomplish that:
Start or Join a Campaign on Social Media
Social media is not just a way to promote your product or build your brand. It is also a great way to amplify a message, spread awareness, and even support causes through fundraisers.
If there is an existing campaign with a cause relevant to your brand or morals, you can join that. Should one not exist, you can simply make your own.
Not only will that let you become a positive change in the world, it will also let you reach a market wider than you usually would.
Here are a few top-line cause marketing and social impact statistics from 2016 – 2020 you’ll want to share: https://engageforgood.com/guides/statistics-every-cause-marketer-should-know/
Give a Portion of Your Profit to a Cause
If you do not have time to commit to a massive cause marketing campaign, you can opt for the simplest strategy available – donations. Pledging a portion of your profits to a cause or charity can help show your dedication to the cause without overtaxing your resources.
Even a small percentage can add up, as long as you are making sales. Do take note that you should not increase your prices in an effort to keep your profit margin the same.
Cause marketing matters now more than ever, and when done right, cause marketing that takes a stand on social issues can dramatically increase a brand’s appeal.