Social Entrepreneurship
Cause-Related Marketing first surfaced in the early 1980's by American Express. The idea, however, has been around since the dawn of civilisation...
Reciprocity.
The benefit for your business is more sales...
Reciprocity makes the business world turn. For a graphic demonstration of the sheer power of reciprocity, survey the online world. You cannot but help see keyword phrases such as "Mass Control Marketing", "Product Launch Formula" or "Moving The Free Line".
What is the same amongst them? Common to all of them is the core concept of giving to potential customers in the hope these prospects/people become lifelong customers. I know what you're thinking "Risky", right?
There are lots of free-loaders flying about, yes?. I will not disagree, there are a lot but there is only the smallest of risk involved for these smart businessmen and women.
They know how people think, how you think, how I think. We all feel indebted to someone who does us a favour or gives us a gift (some moreso than others mind).
It may seem off the wall to suggest giving - particularly in the turbulent times we now live in - will increase your profits. You may think it is in fact a risky proposal.
American Express did not. On the contrary, they knew when they launched the pledge to donate a penny to the restoration of the Statue of Liberty for every transaction made by cardholders, this would money invested.
Great publicity cannot be bought, customer good will cannot be bought, improved employee morale cannot be bought (usually). They found out by giving, a far more powerful force is unleashed.
During the American Express Statue of Liberty initiative, use of Amex cards increased by 28% and new users increased by 17%. In the intervening years, many more companies have had stellar successess with cause related marketing. Names like Coca-Cola, McDonalds, Avon, the list goes on and on... are heavily involved. And it's not just big companies either who are wise to the positives cause-related marketing can bring to the balance sheet of a company.
More profits by giving money to good causes a great idea? Well, let me put it this way...
During an appearance on "Late Night with Conan O'Brien" to promote her role of the sex-crazed assassin Xenia Zirgavna Onatopp in GoldenEye, Famke Jansen asked him if he would like a demo of her characters killer signature move (she had to get on top of Conan on a desk and squeezing him with her thighs). Conan replied with "This is what we in the industry call a 'no-brainer'."
Good causes are great business, it is a no brainer.
JointWinWin.com is a free cause-related marketing business directory. As a business you can submit unlimited website listings for no cost giving you extra sales channels for your business. Take a look at this video for more info: http://jointwinwin.com/IntroductoryVideo-BlogPost.
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