A strategy that is used often by companies to draw customers to them is cause marketing, and they do this with a purpose. A corporate social responsibility study done recently by Cone Communications indicated that 92 percent of consumers buy products from companies that also care about social and environmental causes. The study further found that 84 percent of these consumers also will recommend these businesses to friends, family and co-workers.
Those are powerful statistics in favor of establishing a strategic corporate giving program and using cause marketing to bring it to your customer base. But consumers aren't the only group that can benefit from and appreciate a well-executed cause marketing campaign. Consider these statistics:
According to a study from Rutgers University, 53 percent of workers and 72 percent of students say a job where they can make an impact is very important or essential to their happiness, with the students ranking it third in overall importance and only 1% behind marriage. Taleo Research shows that increasing the engagement level in a 10,000-person organization by 5% can boost profits by an estimated $40+ million.
Improving the engagement of your workers at every level of your organization should be one of the goals of the cause marketing campaign from its inception. This is done by discussing the business strategy and the range of potential causes that will come with this strategy, and from there, produce a decision making framework where everybody can participate and also support.
Each and every employee may not be comfortable participating in this and it is impossible to make them do it. However, by giving different options and thinking creatively can definitely boost enthusiasm and participation in a specific cause marketing campaign.
For example, to support a local homeless shelter your company could donate a percentage of net profit to the shelter every year. A business also could set up a payroll deduction program to allow employees to automatically donate a portion of their paychecks to the shelter. Also, you could arrange for two employees to spend half a day working at the shelter each week.
In addition, why not plan a fun run for your cause? This could be a 5K event that your company sponsors to raise money for the shelter in question. Many shelters hold an annual event to raise money for their organization, so you might donate gift cards or actual products for a silent auction or as prizes. You also can reward employees that donate time outside of work by providing prizes for these employees.
An empowered employee will be an engaged employee. When someone gets excited about a cause, it's natural that they want to share it with others. Online social networks make that natural desire thousands of times more powerful than it was in the past. You can take advantage of that fact and engage your employees in the process by encouraging them to share information about your cause marketing activities with their Facebook friends or Twitter followers, and especially to tout their own part in it.
Lead by example by giving the cause marketing campaign heavy exposure on the corporate social channels, including offering specific employee recognitions that they'll be thrilled to share through their own networks.
Employee engagement can be quickly improved and results immediately acquired, but it can also be fast in disappearing. You have to make sure that your cause marketing and engagement plans for employees are not just a fad.
The goal is a long-term investment in a charitable cause and the engagement of employees for a long time, as well. Employees that are engaged in long-term charitable programs tend to be more satisfied with their jobs and continue to work on improving productivity and this enthusiasm can be contagious, fostering a more collaborative team atmosphere at all levels of your company and this type of camaraderie also is quite attractive for new hires.
Those are powerful statistics in favor of establishing a strategic corporate giving program and using cause marketing to bring it to your customer base. But consumers aren't the only group that can benefit from and appreciate a well-executed cause marketing campaign. Consider these statistics:
According to a study from Rutgers University, 53 percent of workers and 72 percent of students say a job where they can make an impact is very important or essential to their happiness, with the students ranking it third in overall importance and only 1% behind marriage. Taleo Research shows that increasing the engagement level in a 10,000-person organization by 5% can boost profits by an estimated $40+ million.
Improving the engagement of your workers at every level of your organization should be one of the goals of the cause marketing campaign from its inception. This is done by discussing the business strategy and the range of potential causes that will come with this strategy, and from there, produce a decision making framework where everybody can participate and also support.
Each and every employee may not be comfortable participating in this and it is impossible to make them do it. However, by giving different options and thinking creatively can definitely boost enthusiasm and participation in a specific cause marketing campaign.
For example, to support a local homeless shelter your company could donate a percentage of net profit to the shelter every year. A business also could set up a payroll deduction program to allow employees to automatically donate a portion of their paychecks to the shelter. Also, you could arrange for two employees to spend half a day working at the shelter each week.
In addition, why not plan a fun run for your cause? This could be a 5K event that your company sponsors to raise money for the shelter in question. Many shelters hold an annual event to raise money for their organization, so you might donate gift cards or actual products for a silent auction or as prizes. You also can reward employees that donate time outside of work by providing prizes for these employees.
An empowered employee will be an engaged employee. When someone gets excited about a cause, it's natural that they want to share it with others. Online social networks make that natural desire thousands of times more powerful than it was in the past. You can take advantage of that fact and engage your employees in the process by encouraging them to share information about your cause marketing activities with their Facebook friends or Twitter followers, and especially to tout their own part in it.
Lead by example by giving the cause marketing campaign heavy exposure on the corporate social channels, including offering specific employee recognitions that they'll be thrilled to share through their own networks.
Employee engagement can be quickly improved and results immediately acquired, but it can also be fast in disappearing. You have to make sure that your cause marketing and engagement plans for employees are not just a fad.
The goal is a long-term investment in a charitable cause and the engagement of employees for a long time, as well. Employees that are engaged in long-term charitable programs tend to be more satisfied with their jobs and continue to work on improving productivity and this enthusiasm can be contagious, fostering a more collaborative team atmosphere at all levels of your company and this type of camaraderie also is quite attractive for new hires.
About the Author:
Sebastian Troup likes writing about philanthropic solutions for businesses and non profit organizations. For more examples of corporate social responsibility, or to find help setting up a corporate charitable giving program, please go to the Truist website now.
No comments:
Post a Comment