Personal Brand
We hope that companies that provide services to us do not exploit their workforce or wreck the environment, but is there a benefit to brands when they adopt a philanthropic approach to funding people and causes? Price is often key, but increasingly so too are the actions of companies in our crowded planet.
Philanthropy is generally perceived positively but more than seeing brands shower cash, astute consumers want to see cause or purpose driven marketing aimed at achieving ‘actual social impact.’
It’s the difference between sending food to starving people (philanthropy) versus helping people to learn how to feed themselves (purpose).
This reality is particularly evident with younger target audiences; Recent research revealed that 47% of consumers that buy a brand (at least monthly) that is associated with actively supporting a cause, are themselves prepared to ‘take action/advocate’ on behalf of that brand, which in turn generates earned media. Do your clients embrace this reality?
Stuart
PS. Have a look at my past newsletters
Articles and commentary that might be of interest…
- Cause v Purpose
- Study 2013 Cone Communication Social Impact Study
- Why brands should focus on social change not philanthropy
- These Shoes Ain’t Just Made for Walkin’: The Cause Marketing Biz Model
- 10 Best Cause Marketing Promotions of 2013
- The Power of Cause Marketing for Good Cause-Related Marketing and the Millennial Mindset
- 3 Key Advantages of a Cause Marketing Strategy
- 4 Things Cause Marketing Can’t Do (& What Your Campaign Should)