Excellent and timely piece from Charity Navigator:
It isn’t just pink ribbon packaging showing up on shelves during Breast Cancer Awareness Month anymore. Now the ribbons are apparent year-round. Moreover, it isn’t just pink! There are seemingly endless opportunities to purchase products and services that claim to benefit charity.
Why are so many companies jumping on this bandwagon? Because, as a tool for motivating purchases and improving the public’s perception of a brand, it works. Here are some findings from a 2013 Cone Study on cause-related marketing:
- 89% of consumers would be likely to switch brands (if quality and price held constant) for one that’s affiliated with a charity, compared with 80% in 2010 and 66% in 1993.
- 54% of consumers bought a product with a social and/or environmental benefit, compared with 41% in 2010 and 20% in 1993.
So, how do you evaluate which cause-related marketing efforts are worth purchasing? Click the link below to find out!