Happy Soul Food Friday!
Hope your year is off to a good start.
Nothing superstitious for this week (that would be Ghoul food)…
First enjoy a musical interlude to keep the holiday mojo going, but check out this instrument and partnership:
As you think about what constitutes a successful year, you might find my work blog post useful as you define what success means to you
Our world is a changing. If you don’t believe in cause marketing and being a force of good, you have another think coming. Check out these stats:
Statistics Every (Cause) Marketer Should Know
Here are some statistics from 2008 to 2010 research that shed new light on doing well by doing good.
Consumer Expect Marketing with Purpose Globally – Eighty-six percent of consumers around the world believe that business needs to place at least equal weight on societal interests as on business interests. 2010 Edelman goodpurpose
Marketing Experts Agree – Two-thirds of brands now engage in cause marketing (up from 58% in 2009) and 97% of marketing executives believe it is a valid business strategy. 2010 PRWeek/Barkely PR Cause Survey
Communication is Key – 90% of consumers want companies to tell them the ways they are supporting causes. Nearly two-thirds (61%) don’t think companies are giving them enough details about their efforts, including the amounts donated and the length of the promotions. 2010 Cone Cause Evolution Study
Hispanics and African Americans Respond to CM – One-third of Hispanic and African American consumers report that they almost always choose brands that support causes they believe in, compared to just one in five Non-Hispanic Whites. Yankelovich MONITOR Multicultural Study 2010
Consumers Punish Companies with Bad Reputations: 72% of US consumers say they have avoided purchasing products from companies whose practices they disagree with. 2009 BBMG Conscious Consumer Report
People Seek Authentic Corporate Commitment – Globally 66% of people believe it’s no longer enough for corporations to merely give money away, but that they must integrate good causes into their day-to-day business. 2009 Edelman goodpurpose Consumer Study
Consumers Believe Companies Can Make a Difference – 60% of US consumers say businesses are in the best position to impact social issues, as opposed to government (14%). 2009 Waggener Edstrom Worldwide Consumer Research
Marketers Are Sticking With It – 61% of CMOs say they plan to maintain their level of cause commitment in spite of the recession. 2009 PRWeek/Barkley Cause Survey
Cause Marketing Increases Sales – Behavioral research demonstrated a 28 to 78% increase in actual purchase within the toothpaste and shampoo categories. 2008 Cone/Duke University Behavioral Cause Study
Cause Increasingly Creates Differentiation – 79% of Americans say they would be likely to switch from one brand to another, when price and quality are about equal, if the other brand is associated with a good cause (compared to 66% in 1993). 2008 Cone Cause Evolution Study
People are Cause Conscious in Many Aspects of Life – 89% of Americans state it is very/somewhat important to know about the values of companies they come in contact with – whether through buying products, working for them or living in a community in which they operate. The 2008 MS&L Global Values Study
Finally, in the spirit of thinking outside the box, here a few things I bet you wish you had thought of:
Stay thirsty (for soul food) my friends!
Pay it forward…