Cause Related Marketing (CRM) is a very powerful tool in business and in which increasingly more companies and non- profits are leveraging . Not only that, studies have been conducted to show that cause related marketing has helped to increase a company’s profits. Cause Related marketing is growing and the projections are $1.55 Billion on cause partnerships. (Money that you can take advantage of to market your eyecare business.)
- Though they have the desire to give back in time, many Boomers say it is easier to contribute more passively by purchasing products from companies that will contribute a portion of the profits to charity.
- Boomers who volunteer are more likely to have stronger values toward the greater good and their legacy and are more likely to have life values that are “virtuous” or “utopian,” as defined by Focalyst.
- The act of volunteering is not linked to age alone. Boomers are just as likely to donate time to a cause as are those older than they are (Matures born 1945 and prior).
- With many Boomers working beyond retirement age, they are likely to both work and volunteer into their sixties and beyond.
- 89% of Americans (13-25) would switch from one brand to another if the brand was associated with ‘good cause”
Your cause does not have to be about eyecare. It should be a cause that you feel strongly about and can get behind. One For The Planet, Save trees, Komen for the Cure, Prevent Blindness, Doctors without Borders, Boys and Girls Clubs, there are plenty of causes to support.
Benefits of Cause Related Marketing
- Non-Profits are increasing looking for ways to increase revenues- synergize efforts, time and money to market.
- Companies (Vendors) are much more open for opportunities to enhance their image and reputation- thus more money.
- Enhances Your reputation and image.
- Increases Talk Factor
- Increased Customer loyalty
- Positive Media Coverage
- Increased Sales
- Increased Visibility
- Find a cause you can be passionate about
- Get your eyecare team involved.
- Look for ‘partners and optical vendors that can support you. Many vendors are already involved in various charities, check them out first.
- Volunteer and plan out promotions for the year.