WHO IS CAUSECAST?
Causecast , dubbed "a one stop philanthropy shop" by TechCrunch , is a platform where media, philanthropy, social networking, entertainment and education converge to serve a greater purpose.
People want to do good, want to be inspired, and want to inspire others to join them in giving back. Causecast makes this easy by providing users with means to CONNECT with people, leaders, charities, nonprofit organizations, and brands that inspire them.
If you incorporate or thinking about incorporating Cause-Related Marketing into your marketing strategy, Causecast is a great way build your brand, increase revenues, provide access to niche markets, improve corporate citizenship, create market differentiation, attract and retain customers and connect with different kinds of causes.
Causecast segments causes into Animals, the Arts, Community, the Environment, Health and Human Rights.
SIZE OF THE CAUSE-RELATED MARKETING SECTOR
According to a IEG Sponsorship Report, an estimated $1.44 billion was spent on cause-related marketing (CRM) in the U.S. in 2007. C ause-related marketing expenditures have grown from an estimated $740 million in 2001 to $1.44 billion in 2007, a compounded annual growth rate (CAGR) of 12%.
The IEG Sponsorship Report , says U.S. cause-related marketing expenditures will total $1.5 billion in 2008, up 4.2% from the $1.44 billion recorded in 2006. The decrease in the growth in CRM expenditures for 2008 is due to a forecasted slowdown in the U.S. economy in 2008. CRM expenditures for 2008 were 9% of total sponsorship expenditures which were $16.78 billion in 2008.
According to the Giving USA Foundation , Americans donated a record $306.39 billion to non-profit organizations in 2007, an increase of $11.4 billion or 3.9% over 2006. Individual donations were $229.03 billion or 74.8% of all donations, down 0.1% from 2006. Corporate donations were $15.69 billion a decrease of $12.72 or 4.3% from 2006. The following chart provides a breakdown of charitable donations by source for the year 2007.
The latest findings for Cause-Related Marketing according to the July 2007 Cone Cause Evolution Survey were as follows:
§ More than two-thirds consider business practices when deciding to buy.
§ 85% say they would switch to another company’s products or services if a problem with business practices were uncovered.
§ 83% say companies have a responsibility to support causes, with 92% noting more positive images for companies supporting causes they care about.
§ 83% say they are likely to switch from one brand to another (price and quality being about equal) if the other brand is associated with a good cause.
§ 72% wish employers would do more to support a cause or social issue.
The Top 10 percent of brands receiving the highest Corporate Citizenship Index ratings according to the 2006 GolinHarris Corporate Citizenship Study from polling 52 brands by 5,000 Americans were as follows:
RANK | BRAND | RATING |
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1 | Ben & Jerry’s | 68.08 |
2 | Target | 64.75 |
3 | Patagonia | 64.65 |
4 | SC Johnson | 64.45 |
5 | Gerber | 62.54 |
6 | Southwest Airlines | 62.27 |
7 | Johnson & Johnson | 62.13 |
8 | The Body Shop | 61.79 |
9 | UPS | 61.68 |
10 | 3M | 61.63 |
11 | Honda | 61.60 |
12 | Campbell Soup | 61.42 |
13 | Quaker | 61.28 |
14 | Kimberly-Clark | 61.11 |
15 | Harley-Davidson | 60.90 |
NOTE: I have recommended Cause-Related Marketing for a couple of my clients and was amazed just how Cause-Related Marketing is growing in popularity, a good marketing strategy in the overall media mix, a great way to increase your visibility, elevate your corporate citzenship, build brand awareness and increase revenues.
If you would like to know more about Cause-Related Marketing and would like to incorporate it into your marketing strategy, please contact Tommy Toy, PBT Consulting.
This article is brought to you by Tommy Toy, PBT Consulting
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