Richard Branson once said that it shouldn't be left to politicians and community organisations to tackle the world's problems - businesses should help too.
These words appear to ring true in that the expectation for companies to do good has never been greater, with 93% of consumers wanting to know what brands are doing to support good causes. For the first time ever in the US, consumers believe that they are more responsible for supporting social issues than the Government and are acting on this belief by buying from companies that support a good cause and recommending the brand to their social networks.
Non-profit organisation, Student Body of America Association, is currently reviewing companies interested in cause marketing which aligns with their mission and the many causes addressed in their upcoming documentary, ‘Project Pay it Forward’. The film will feature experts in the field of philanthropy and role models who are making a positive impact on the world, in order to help companies achieve the ultimate goal—the "halo effect"—the positive reputation of a cause spreading to the company that supports it.
More than ever before, companies are taking heed and listening to consumer expectations for brands to address societal issues. According to IEG Sponsorship Report, cause sponsorship is expected to reach $1.78 billion in 2013, a projected 4.8% increase over 2012.
Paul Arkwright
Publisher
