Why does your brand need a cause?

Cause marketing, greenwashing, and cause branding - these are phrases being used to describe how companies are tying causes to their brand. There is a huge swing happening in regard to adding a give-back element to your company, professional, and personal brands. Why?? largely because Gen Y (millennials) and Gen Z buyers are demanding it. 87% of GenY/Z Americans said they’d purchase a product or service because it advocated an issue they cared about and 76% said they’d refuse to purchase if a company didn’t support their beliefs*. 89% said they would switch brands to one associated with a good cause despite similar price and quality*. These stats invite us to ask the question, are GenY & Z our customers? If so - we need to figure out our position to maintain interest in our products and services.

Let's start with definitions:

Greenwashing: an attempt to capitalize on the growing demand for environmentally sound products. It's now being applied to other causes beyond environmentally sound. [Think the word 'natural' vs. 'organic' on CPG.]

Cause marketing: involves a collaboration between a for-profit business and a nonprofit organization for a common benefit. Cause marketing can also refer to social or charitable campaigns put on by for-profit brands. Typically this is defined as a campaign - a particular event or perhaps a time-frame commitment to serve a cause.

Cause branding: builds dependency between the cause and the brand. This is an ongoing effort of the company to serve the cause. i.e. Patagonia is a corporation focused on environmental consciousness with multiple campaigns throughout the year for employees, clients, and partners. Their cause is woven into the fabric of their brand.

I find that entrepreneurs are tiring of simply clicking the donate button on a nonprofit campaign. They are hungry to be more active and to be more involved and to do so with their tribe (family, friends, coworkers). Imagine an entrepreneur weaving cause into their personal brand AND weaving cause marketing into their business. That sounds like a heart-centered entrepreneur.

This yields a lovely synergy between the business, the entrepreneur and the cause partner. [non profit or social commerce organization].

Still not convinced? Try this: 89% of GenY/Z said they would switch brands to one associated with a good cause despite similar price and quality*.

Here's the good news: You don't need a ginormous amount of funds to start leaning in to a cause you already care about. In fact, here's a free starter kit that will get ideas flowing.

*cred BrandExtract