Cause Marketing & Millenials
By Madeleine Smith
The term “cause marketing” was coined in the 1970’s. However, it’s increasingly important today for companies to support a cause or sponsor a charity. If you want proof that cause marketing is on the rise, it’s in the numbers. Engageforgood.com tracks several consumer studies, all of which support the importance of cause marketing:
- Cause sponsorship will reach $2.06 billion in 2017, a projected increase of 3.6% over 2016. (IEG Sponsorship Report, 2016).
- 33% of consumers are now choosing to buy from brands they believe are doing social or environmental good. (Unilever Study, 2016).
- 74% of employees say that their job is more fulfilling when they have a positive impact. (Cone Communications Employee Engagement Study, 2016).
- 80% of global consumers believe that businesses must play a role in addressing societal issues. (Edelman Trust Barometer, 2016).
Moreover, what’s most interesting is where millennials factor into the picture. A 2014 Cone Communications Digital Activism Study also found that:
- 74% of millennials surveyed learn about a companies’ social or environmental business practices, versus the U.S. average of 54%.
- 80% of millennials were likely to donate to a cause after learning about it online, versus the U.S. average of 63%.
However, society often portrays millennials as the “me” generation. Selfish, entitled, lazy… Also, it seems every millennial has had “the talk” with their grandparents, how “back in the day, they had to actually read books to write research papers, and walk to school uphill both ways in the snow.” The bottom-line is that they think technology has made millennials’ lives much more convenient, and we have it so much easier than they did.
That’s probably true to some extent. Growing up with computers, cell phones, and technology has made things easier for some of us, but harder for others.
While I’m not walking to work in the rain or churning my own butter, I’m involved in my community. I’ve also spent countless hours doing unpaid work for causes that I care about. And, after doing research, I know I’m not alone.
If you’re a business owner and you want to reach millennials, consider supporting a cause or devoting pro-bono work to a nonprofit. Cause marketing statistics show that it does pay off, no matter what side of the transaction you’re on.
TVG has experience in creating successful marketing campaigns for a variety of clients. Need some help? Give us a call at 314-991-4641 or email us to know more.