Cause-driven companies find new ways to connect with customers by bonding over a common purpose.
When you build a foundation based on the bigger picture than just making a sale, your employees and potential clients will be drawn to your vision and want to join your cause.
A cause-driven brand is more successful than other brands in many ways.
What Is Cause Branding?
Cause branding is about selling your product or service while communicating your purpose and story behind what drives you.
A cause-driven brand is shaped around a cause and is dedicated to it long-term.
Cause-driven marketing does not consist of gimmicks that come and go with the sales calendar.
A purpose-driven company is similar to a cause-driven company, and we will use these terms interchangeably.
When the founder of the company communicates a specific purpose that speaks to the consumer, brand loyalty is born.
Read in Forbes, “An organization’s purpose is often a mirror of where the organization is at in its evolutionary process. There are companies that are focused on controlling the status quo and their own standing. The culture of these organizations is often steeped in power and/or hierarchy and intent on delivering results.
On the other hand, there are companies that have a more expansionary view, either because of their focus on innovation or, even better, because of their genuine multi-stakeholder perspective and their ethical concerns.
Depending on where a company is along this spectrum, it will have a different awareness of its role, impact and very own existence. And that level of awareness is going to be reflected in its purpose.”
Cause-related marketing can be associated with a cause-driven brand. Or sometimes, a regular brand will push a cause for a limited time.
For example, your favorite brand may advertise that 5% of sales will be donated to breast cancer research during breast cancer awareness month.
“Corporate success is no longer measured just in dollars and cents. An organization's market value is still measured by its stock price, or determined by its valued assets, its position in the market, its unique distinctive competence, the value it brings to its customers and its market potential.
However, investors and employees — and customers — are paying closer attention to how you do business, along with how well you do it and what you deliver.” -Yahoo Finance
Cause-related marketing can bring in a specific group of consumers, but you’ll have to keep up your passion for your cause if you want to keep those customers long-term.
Purpose-driven marketing is more long-term.
A purpose-driven company will continually communicate with its audience about its mission and embed it seamlessly into its marketing efforts.
Why Is Cause Branding Important?
Cause-driven branding is important because potential customers are always watching what you put out.
Did you talk about protecting the rainforest in one email communication and completely disregard the environment in the following touchpoint?
Show consistency in your cause-driven brand to earn the trust of your consumers.
At The Growth Shark, we engage in ongoing communication with our audience about the brands we support, highlighting companies that we admire and trust that are cause-driven as well.
The Benefits of Cause-Driven Branding
Choose a cause-driven brand to reap the benefits. When you choose a purpose, everything else falls into place.
Your employees will join in the cause, bonding as they work on a common goal.
Consumers will feel loyal to your company and even be willing to pay more for a product that can be bought elsewhere for cheaper.
You will build a legacy you can be proud of with cause marketing.
Why Companies Should Be Purpose-Driven
Many companies that choose cause branding are finding success.
From a business perspective alone, a cause-driven brand is worth considering.
“79% of business leaders recently surveyed by PwC believe that an organisation’s purpose is central to business success, yet 68% shared that purpose is not used as a guidepost in leadership decision making processes within their organisation.
Millennials who have a strong connection to the purpose of their organization are 5.3 times more likely to stay.”
How Do You Become a Purpose or Cause-Driven Business?
Learn where to start with purpose-driven marketing and building a cause-driven brand.
Be a Leader in Your Business
Cause branding starts with you.
Choose your cause, and your team will follow suit.
Choose a purpose, and your customers will stand with you.
Practicing What You Preach
As a leader, you must practice what you preach to earn the respect of your team.
Your potential customers will see right through you and buy elsewhere if you do not stay consistent with your cause marketing strategy.
Let’s talk about purpose-driven business models, ideas, and examples.
Purpose-Driven Business Models
Instead of laying out your business with assets and financial worth, draw investors in with your social and environmental purpose.
Choose a diverse board of directors to provide unique perspectives on your cause-driven brand.
Purpose-Driven Business Ideas
Identify a cause that is close to you.
If you have a disease that runs in your family, how can you spread the word on prevention or awareness of early diagnosis?
Or choose a social justice cause to rally behind and donate a portion of your sales to support.
Examples of Cause-Driven Companies
Unilever recently revised its purpose to “making sustainable living commonplace” after recognizing the negative impact of disposable cleaning products on the environment.
Joyride Coffee sustainably sources its coffee, paying farmers a fair wage for their coffee beans.
Icelandic Glacial uses green energy to produce premium-tasting water. They also donate water to those in need.
Our team works with brands to build cause-driven marketing campaigns that will grow their company and spread awareness for their cause.
How Can Your Brand Be More Cause-Driven?
Choose cause branding to grow your business and reach customers who would otherwise be uninterested.
Use your strength in business for good by building a cause-driven brand.
And if you found this post helpful, read more about building brands with purpose and why effective altruism matters.
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