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In 2007 Booz Allen Hamilton set out to help small nonprofits in the Washington, D.C. area gain access to expert advice and guidance on management and fundraising that was otherwise unattainable for them due to cost. In the four years since, the Booz Allen Hamilton Nonprofit Development Conference Series has grown exponentially and now successfully serves more than 400 unique nonprofit organizations with top tier guest speakers from around the metropolitan area who provide the sorely needed advice and guidance.
Cause-related marketing efforts in a down economy
Does the recession have you questioning spending on cause-related marketing (C-RM)? If you are your company’s C-RM Champion, or would like to be, it may be up to you to make the case for maintaining C-RM, or even ramping it up to meet business goals. In hard times, your business values will show through, loyalties will be built, and your employees and other stakeholders will notice.
Buck conventional wisdom and differentiate yourself in a meaningful and relevant way.
Companies with C-RM that is focused on business objectives, based on issues material to the company and responds to societal needs are often successful in challenging economic times.
The needs of the community will be increasing.
Communities will reward the business heroes that have made a true connection with them. An infusion of cash or donated volunteer hours from businesses into the non-profit sector is critical.
Consumer mistrust of public and private sector leaders is at an all time high.
Reducing or cancelling C-RM activities now can damage your image and lead to accusations of using your partnerships with causes merely for public relations gains.
Consumers demand that companies be socially accountable, so let them know you are.
It’s the wrong time to be wasting marketing opportunities. Marketing is about making connections. Utilize C-RM to link your business to the wants, needs, lifestyles and interests of your customers.
Do more with less.
C-RM is a proven tactic in improving employee recruitment and retention efforts. Volunteering time and expertise helps in developing superior leadership skills and encouraging cross-function teamwork among employees. Like your consumers, your employees are looking for meaningful connections.
C-RM is a proven way of driving sales.
Study after study has shown that, given the choice, Americans would switch brands to one associated with a cause. Why not take advantage of that? The bottom line is that C-RM helps those in need and it drives sales while creating good public relations for your company.
Past economic downturns have produced winners and losers. This time companies have the opportunity and the studies to prove that C-RM builds lasting connections with consumers. When executed correctly, C-RM will pay short and long-term dividends by positively impacting your community, consumers, employees, and most importantly, your bottom line.
July 1st, 2010 at 7:35 PM
Great item. Thanks for writing it.