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Apr
13
2010
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Cause Criteria: Consumers Get Cause-centric, Should Your Brand Follow?Cause marketing is nothing new. Yoplait has been supporting breast cancer research for years. What is new, are the “New Affluents,” who spend over $303 billion a year in the U.S. on their favorite brands. With their spending power, this group is single-handedly redefining what makes a “good” brand, including if that brand represents integrity and authenticity through charitable efforts. But that’s not all. According to a report done by Cone based on nonprofit partnerships, “59% of Americans are more likely to buy a product associated with the partnership.” Similarly, Bob Gilbreath reports that 71% of consumers continue to give despite the economic downturn, 87% would switch to a brand partnered with a good cause and 50% would pay more for cause-related products. So what is a brand to do? Mindgruve believes there are some basic criteria you should consider before rushing into the cause-marketing space. Standing behind a cause with an innovative marketing campaign is a great way to connect with your consumers and build brand awareness. However, the wrong cause and campaign may force people to view your efforts as a weak attempt to stay relevant. Take a moment to review and carefully think about what will work for you.
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