Article in Marketing News, American Marketing Association, July 15, 2014
• Cause marketing is a tactic in which a for-profit company and a nonprofit organization form a partnership to boost sales, donations and brand awareness.
• Outdoor gear retailer Patagonia has partnered with a number of nonprofits to ensure corporate giving is a key part of its overall marketing strategy.
• Success comes through a step-by-step approach, leveraging what you already have with the right partners in a combined effort to create a greater good.
Read the full article: https://www.ama.org/publications/MarketingNews/Pages/good-business.aspx
Cause marketing—the partnership of a for-profit company and a nonprofit organization intended to increase sales, donations and brand awareness—has proven to be a highly successful marketing tactic for companies such as General Mills, Pepsi, and Procter & Gamble, to name just a few, but it’s starting to wear a little thin with consumers. When every can of soup or box of cereal is printed with a “Box Tops for Education” logo, the effect becomes progressively diluted.
But cause marketing is just the proverbial tip of the iceberg. There’s a much larger opportunity for altruistic and philanthropic brand alignments with cross-sector partnerships in which multiple linkages are developed between nonprofit and for-profit organizations. The for-profit organization may provide the nonprofit with volunteers, in-kind donations, paid advisers with specialized skills, event sponsorships, board members, knowledge and best practices, office space and more. The nonprofit organization, meanwhile, may provide volunteer opportunities to enhance the for-profit employees’ job satisfaction and a deeper understanding of the needs of those employees’ community, as well as coaching and leadership experience, tax-deductible donation opportunities and much more.