Tuesday, October 4, 2016

Tuesday's Giving Tip: Cause Related Marketing

With October being National Breast Cancer Awareness Month, the motivation for companies to jump aboard various “pink” campaigns designed to benefit breast cancer, are higher than ever. You should know, however, that these campaigns last for much longer than just the month of October. Many companies have made it a point to affiliate themselves with charities for cause related marketing efforts. Some embark on this mission in hopes that it could provide increase in sales revenue through consumer purchasing of products and services claiming to benefit charity. In addition to this, companies have increased their corporate citizenship through marketing products with social and environmental benefits, understanding that it assists brand image and perception, which subsequently, increases a company’s potential profitability.

So with the increase in company-charity partnerships, how do you know if their cause related marketing is worth your hard earned dollar? You can begin by asking yourself these questions:

  • Is the relationship between the charity and the for-profit, authentic?

  • Is the packaging clear and transparent?

  • Is this product/service something that you really need?

  • How does the product/service stack up to competitors’ offerings?

  • Is the charity affiliated with the product high-performing and one that matches your philanthropic goals?

You can find more information on this topic via Charity Navigator’s site, the charity’s personal site, or through direct contact with the charity. It is important to remember that this method of philanthropy shouldn’t  be a substitute for donating to a creditable, purpose driven charity. As important as cause related marketing efforts are for all sides involved, the important thing is to remember that all efforts are made with the bigger picture of helping those in need.

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