CAUSE MARKETING & CORPORATE SPONSORSHIP
WHAT THE HECK IS IT?
The term “cause marketing” has several different meanings, but basically it is used to describe promotions where a business provides financial support to a nonprofit organization in exchange for limited use of the organization's name and logo.
What is the difference between “cause marketing” and “corporate philanthropy” or “corporate sponsorships?”
"Corporate philanthropy" takes place through direct monetary gifts to a nonprofit. It is often made through a corporation's own foundation. These donations are often for a particular program that the nonprofit will run and can be of short or long duration.
"Corporate sponsorship" is a bit closer to cause marketing since the corporation gives the nonprofit money, or in-kind payment of property or services, to hold an event, run an art exhibit, or other time-limited activity.
Whether a corporation engages in cause marketing, philanthropy, or sponsorship, there can be no arrangement or expectation that the corporation will recieve any "substantial return benefit," as described by IRS regulations.
WHY IS CAUSE MARKETING A GOOD THING?
Cause marketing lets the public know that your company is socially responsible and interested in the same types of causes as your consumers. It can help your company to target key customers, attract and keep employees and increase your reputation and sales. Consumers can support their favorite charities, while raising awareness and funds.
Nowadays, consumers expect companies to participate in cause marketing, and they want to see them taking action that will positively impact their communities. Despite economic hard times, research shows that consumers like buying cause-related products:
85% have a more positive image of a product or company when it supports a cause they care about; and,
80% are likely to switch brands, similar in price and quality, to one that supports a cause.
GOF WELCOMES ALL COMPANIES, BIG OR SMALL, WHO SHARE OUR VISION AND REFLECT OUR VALUES TO INQUIRE ABOUT CREATING A CAUSE MARKETING PROGRAM WITH US. THERE ARE MANY WAYS TO PARTNER WITH GOF INCLUDING:
On-site fundraising efforts
Commercial Coventure (% of proceeds, $ from every sale)
Sponsoring an GOF event
PLEASE CHECK OUT GOF'S CAUSE MARKETING GUIDELINES AND QUESTIONNAIRE TO LEARN MORE AND GET STARTED!