The marketing landscape has been transformed by a sweeping shift in our economy. Consumers are increasingly attracted to brands with purpose and social conscience, to brands that echo the values of nonprofit organizations. While some companies have timidly entered this do-good world, others have caught the vision. They know that consumers want to give back to cause-related brands, and they are delivering, many by partnering with nonprofits.
Here are 5 reasons why social missions matter in marketing:
1) Consumers across the globe believe that businesses need to be just as concerned about societal interests as they are about business interests. They want to know how companies are taking action to make the world a better place.
2) The vast majority of US consumers—a reported 91 percent—prefer to support a brand that is linked to a good cause, and they are willing to make the switch.
3) Having a social conscience pays, as consumers are willing to pay more for products or services sold by companies that are socially conscious.
4) Consumers in the US are more loyal to companies that support a cause and rally for social change. They recommend them to family and friends, volunteer, and donate.
5) Brands must communicate effectively so that consumers know what they are doing and where they are making a difference. The media is heavily influential, and consumers pay attention to what they are saying about a company, rather than what the company says about itself.
Further reading: 10 Reasons To Put A Social Mission At The Heart Of Your Marketing