Fast-food companies are frequently criticized for the unhealthy nature of their menus. But these firms are often involved in very good deeds, such as the sponsorship of Ronald McDonald House Charities. Ronald McDonald House Charities is an example of cause marketing, whereby a profit-oriented firm partners with a not-for-profit entity in a way that benefits both organizations.
As Joe Waters (founder of www.selfishgiving.com) writes for HubSpot: Cause marketing “is win-win in that the nonprofit gains awareness and raises money while the business earns favorability with consumers for supporting a good cause.” The Dave Thomas Foundation for Adoption was a passion of the late founder of Wendy’s: “Dave Thomas was adopted at six weeks. He knew firsthand the importance and power of a child having a loving family.”
Waters adds that:
“There’s another good reason for companies to support good causes: Consumers expect it. Ninety percent of consumers want companies to tell them the ways they are supporting causes. Supporting a cause is no longer a nice-to-have option for businesses. It’s a must-have, and it extends to businesses of all types and sizes. Even B2B companies are recognizing the value of cause marketing.”
“The success of cause marketing hinges on customer involvement. And with good reason: Customers are generous change makers. While many companies are happy to contribute to causes, its donations pale in comparison to consumer gifts. For example, while McDonald’s donated $32 million to RMHC last year, consumers donated $50 million through the donation boxes in McDonald’s restaurants.”
Click the image to read a lot more on cause marketing.