Overall, businesses can earn press coverage through cause marketing.
This article highlights the link between generating revenue benefits and the philanthropic efforts of a business. A study conducted by the Case Foundation discovered that consumers are favouring businesses that advance societal causes.
Millennials are actively participating in societal causes by donating to favourite causes, charity auction bidding among other measures. They’re also associating with causes that support those who cannot speak for themselves but also embracing causes that impact them directly like civil rights or racial discrimination, education and employment.
That article cautions that if brands court consumer distrust, consumer support towards them could cease to exist. Cause marketing has become a business strategy for many food and beverage brands and they’re supporting social causes. This builds press potential that can increase brand awareness.
[4 minute read]