When embarking on your first foray into commercial co-venture land, you may have learned that a commercial co-venturer has to register in six states. But how much do you know about what that entails? Here’s a primer: (more…)
Posts Tagged: Cause Marketing
Cause marketing is good marketing according to a recent study.
The marketing research firm Toluna conducted a survey of 1,000 U.S. adults and here’s what they had to say:
- Almost half felt that “it’s a great way to bring attention to different national or global issues.”
- Over half said their favorite way for companies to engage was to “donate some portion of their revenue to a recognized charity.”
- The most popular cause was “hunger, homelessness or medical relief” followed closely by “education.”
- A significant majority favored domestic causes over international causes.
- Nearly two-thirds said they regularly or sometimes sought out brands that support certain causes.
- Most said that it does not impact their willingness to purchase if they don’t agree with the cause.
- But almost half of millennials surveyed would seek out a brand that aligned with a cause they agreed with.
- Millennials were a little more skeptical of cause marketing, but still 80% were not skeptical.
- Almost half of the millennials surveyed said they would spend time researching brands to see what causes they support and would be willing to pay more for these products. And 30% would even sacrifice quality for a good cause.
Once again, the surveys show that cause marketing should be a critical part of a brand’s activities. And according to this survey, any cause marketing is worthwhile, but apparently the best thing to do is target millennials, use your revenue to make donations, support hunger, homelessness or medical relief when possible, stay domestic, and let the public know what you’re doing.
George Carlin had seven dirty words. Spongebob Squarepants had 13 bad words (7 regular/6 sailor). And New York State has 6,942 dirty words that can’t be used on vanity plates. But commercial co-venturers should be aware of three dirty words: Professional Fundraiser, Professional Solicitor, and Fundraising Counsel, because if your cause marketing campaign drifts into these areas, you may want to scream another dirty word.
These categories are treated differently from commercial co-venturers under charitable solicitation laws because these people get paid for their fundraising activities and therefore, the state regulators are more cautious and have imposed much more stringent registration, bonding and reporting requirements. (more…)
What do you do when your esteemed institution of higher learning has an alma mater which, in the words of one professor, could be interpreted as being “complicit with racism”? You do the right thing and engage the community to fix the injustice.
This is exactly what Harvard University is doing. It’s running a contest to change the last line of its college song, Fair Harvard, written in 1836, which concludes with the promise to: “Be the herald of Light, and the bearer of Love, Till the stock of the Puritans die.”
Apparently, after 181 years, the “Harvard of the Northeast” recognized that it could run out of students with ancestors who came over on the Mayflower. So, to this, I say, “Yay! Harvard.” (Mind you, only for this reason do I say, “Yay! Harvard” – no offense to anyone who proudly dons the Harvard Crimson, but I’ve always been preferential to another school that decided to create its own color). (more…)
A good brand’s reaction to any human tragedy is to try to find a way to help. Most recently, we have seen an outpouring of support for the Orlando victims, and we can recall the many millions of dollars raised for Katrina, Haiti, Sandy Hook, 9/11, among, unfortunately, many other devastating events.
Cause marketing may not be the most accurate term to describe a brand’s efforts to pitch in, but since these efforts can arguably come under this penumbra, here are a number of non-exclusive charitable ways a brand can support the victims of horrendous natural or man-made events. (more…)
Your company just made a major announcement that it is partnering with a charity that you now find is involved in a scandal. What can you do?
The recent ousting of The Wounded Warriors Project CEO and COO amid allegations of lavish spending on travel, conferences and public relations requires a company to examine their cause marketing campaigns. While there is no need to throw the baby out with the bath water – recent studies still confirm that consumers, and in particular Millennials, strongly support buying from companies associated with a cause* — picking the right charity is critical.