Socially conscious brands = successful brands
- Written by Jody Piland
Americans are looking for ways to help nonprofits without spending more money. The economy is tough and budgets continue to tighten, but people are steadily giving when they can. Brands can make it easier by supporting good causes.
According to the 2010 Cone Cause Evolution Study, 84% of Americans wish more of the products, services and retailers they use would support causes. As further proof, the study indicates that 41% of Americans bought a product because it supported a good cause. This percentage has doubled since Cone began measuring the impact of cause marketing on consumer behavior in 1993. For all involved, this is a win-win situation.
Additional data reinforces this trend. For example, 61% of Americans in 2010 tried a new brand only because it supported a good cause, and 19% of these consumers bought the more expensive one.
For businesses, becoming socially conscious is an easy step and a great opportunity. It’s the chance to associate your brand with a worthwhile cause. A third of our country already expects businesses to support causes, especially during a recession. If your brand is not already supporting a good cause, now is a great time to start.