Cause marketing is a win-win strategy
Credit Unions earn awareness and loyalty while raising money for charitable causes.
Credit unions’ support for Children’s Miracle Network (CMN) Hospitals extends well beyond Miracle Jeans Day, which occurs on Sept. 18 and is sponsored by Credit Unions for Kids.
With their loyal membership and a strong history of community service, credit unions can be excellent cause marketers for CMN Hospitals and other worthy organizations throughout the year.
Cause marketing, which links a company or brand to a relevant social cause, is a win-win proposition, says Felicity Guerin, Credit Unions for Kids development manager for the American Association of Credit Union Leagues. Your members want your credit union to be socially responsible, and to take pride in contributing to these campaigns.
Prospective members take notice as well, she says.
According to a 2013 Cone Communications study, 91% of consumers are likely to switch brands to a competitor similar in price and quality that supports a cause, while 78% would donate to a cause supported by a company they trust.
Additionally, 31% of global consumers believe businesses should change the way they operate to align with greater social and environmental needs. Just 6% believe businesses exist to make money for shareholders and aren’t responsible for supporting social or environmental issues.
As nonprofit, community focused financial institutions, credit unions aren’t supporting charities to boost their bottom line, but because it’s the right thing to do.continue reading »