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What’s Next For Your Micro-Business
Customers Want Companies To Champion Worthy Causes
More than two-thirds of Americans say they consider a company’s business practices when deciding what to buy. That’s a fact from the 2007 Cone Cause Evolution Survey produced by Cone, LLC, a communications agency in Boston.
The latest study in Cone’s 14 years of Cause Branding and corporate responsibility research indicates an evolution in consumer thinking about the ways businesses interact with society.
“Good business primarily used to be about providing fair value, decent service and high quality,” says Julia Hobbs Kivistik, executive vice president of Cause Branding at Cone, LLC. “Then it expanded to include a company’s societal role and contributions. Now, companies have a strategic imperative to also consider their operating practices and how they impact their social commitments. Today’s informed consumers are now asking, ‘Is this a good company?’ and ‘What does it stand for?’
“Cause marketing efforts have a proven impact on sales and remain effective ways for a company to express its heart and humanity.”
Americans’ expectations of companies are at an all time high – 83 percent of the respondents to the Cone survey said that companies have a responsibility to help support causes. And 92 percent acknowledged they have a more positive image of a company that supports a cause they care about.
What You Can Do
Cause marketing can help you cement loyal customers and differentiate your small business from the competition. Plus, it’s easy to implement.
“Cause marketing has come of age,” says Carol Cone, chairman and founder of Cone, LLC. “Consumers expect companies to support social issues, and companies have responded in a variety of ways, from multi-year, multimillion dollar commitments, to something as simple as adding a ribbon to a package or ad and donating funds to a nonprofit.”
Cone recommends that you first identity an issue that has the most relevance to your target customers as well as to your business and employees.
A store that sells sporting goods, for instance, might want to donate equipment to the local Little League. Or a pet groomer may want to offer free baths for a few dogs that are up for adoption at the local animal shelter.
Next, Cone says that your cause programs must be “authentic, sustainable, transparent and well-communicated.”
For small business owners, that means choosing a cause for the long haul. And choosing one that is meaningful to your employees as well as customers.
Finally, promote the fact that your small business is involved with the cause. Let customers and employees know when your business donates goods or services to a worthy nonprofit – in your e-mail marketing, on your Web site and in print advertising.
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(Posted November 2007) |
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