Cause Marketing is a partnership between a not for profit and a for profit organisation to inevitably create mutual profit for those involved.
Think… American Express in 1983 donating one cent to the Statue of Liberty’s restoration every time their card was used. As a result the icon was restored and the number of new cardholders dramatically grew and card usage also noticeably increased.
Often considered a version of sponsorship, cause marketing is a little different as both organisations must work hard to profit (whether this be financial or building the brands reputation)…no one is getting a free ride!
Cause marketing has now evolved via social media. As the popularity of social media increases, marketers have realised the ways in which cause media can be incorporated into mutually profiting social media marketing strategies.
Below is a recent example of cause marketing in action:
An app under development for the Clinton Global Initiative University, MTV, and the College Board, with support from the Bill & Melinda Gates Foundation, is being developed to aid facebook users in finding possible opportunities for securing scholarships to pay for college, based on categories such as interests, activities, and location.
The app is based on a winning idea by a recent graduate that won $10,000 for the idea and the donors are also contributing $100,000 to the development budget.
To read more visit: http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=147988&nid=125378