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:
A job where employees can make a very good impact is important to the employees happiness, and a study from Rutgers University found that more than 50 percent of workers and more than 70 percent of students agree that a meaningful job is highly important, ranking third in importance and only slightly less important than marriage. When the engagement level of a workplace with 10,000 employees is increased by a mere 5 percent, the estimated profits can increase by as much as $40 million, according to one recent study.
Getting employees at all levels involved in cause marketing is the best way to get employees engaged and committed. This can be done by laying out a range of potential causes and producing a structure for the decision making where everybody is involved and they can support fully, and this is the business strategy to follow.
It's impossible to settle on the perfect philanthropic solution that every employee can comfortably participate in. Get creative during the planning process and determine a few different giving options the company can offer in support of a cause.
For instance, perhaps you wish to support the local homeless shelter. Of course, the company can donate portion of its profits to help out, but you also can provide a payroll deduction option for employees to make monetary giving extremely easy. In addition, you can provide paid work time for employees to volunteer at the shelter. You might designate one half-day each week and send two or three employees to the shelter.
A fundraising fun run can also be arranged by the company to raise funds for the homeless shelter, and a 5K run can be a great idea. Offering special prizes to workers who volunteer to work at the shelter on their own personal time can be an option, and also by donating company gift certificates for the homeless shelter's annual auction.
It is said that an employee who is empowered is also a committed employee. When a cause excites somebody, it can also be said that they may want to share this with people. The social networks enhance this desire more times and this is observed more than before. You can make this work for you by having your employees do this and in the process make them share information about you and your cause marketing activities; share these with their friends on Facebook and their followers on Instagram or Twitter, and especially mentioning their part.
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:
A job where employees can make a very good impact is important to the employees happiness, and a study from Rutgers University found that more than 50 percent of workers and more than 70 percent of students agree that a meaningful job is highly important, ranking third in importance and only slightly less important than marriage. When the engagement level of a workplace with 10,000 employees is increased by a mere 5 percent, the estimated profits can increase by as much as $40 million, according to one recent study.
Getting employees at all levels involved in cause marketing is the best way to get employees engaged and committed. This can be done by laying out a range of potential causes and producing a structure for the decision making where everybody is involved and they can support fully, and this is the business strategy to follow.
It's impossible to settle on the perfect philanthropic solution that every employee can comfortably participate in. Get creative during the planning process and determine a few different giving options the company can offer in support of a cause.
For instance, perhaps you wish to support the local homeless shelter. Of course, the company can donate portion of its profits to help out, but you also can provide a payroll deduction option for employees to make monetary giving extremely easy. In addition, you can provide paid work time for employees to volunteer at the shelter. You might designate one half-day each week and send two or three employees to the shelter.
A fundraising fun run can also be arranged by the company to raise funds for the homeless shelter, and a 5K run can be a great idea. Offering special prizes to workers who volunteer to work at the shelter on their own personal time can be an option, and also by donating company gift certificates for the homeless shelter's annual auction.
It is said that an employee who is empowered is also a committed employee. When a cause excites somebody, it can also be said that they may want to share this with people. The social networks enhance this desire more times and this is observed more than before. You can make this work for you by having your employees do this and in the process make them share information about you and your cause marketing activities; share these with their friends on Facebook and their followers on Instagram or Twitter, and especially mentioning their part.
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 loves writing about philanthropic solutions for businesses and non profit organizations. To get more examples of corporate social responsibility, or to find help setting up a corporate charitable giving program, please go to the Truist.com site today.
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