Promoting charitable giving during the holidays can give brands a boost — not only in terms of customer trust and loyalty, but in increased sales.
According to the 2010 Goodpurpose study from Edelman,consumers value a brand’s commitment to charitable causes – and are willing to pay for it. More than 70 percent of U.S. consumers said they prefer to give their business to companies that are committed to good causes. And more than half of consumers are willing to pay more for products if some portion of proceeds goes to charity. Finally, 66% of U.S. consumers said they would be willing to promote a brand’s products or services if a charitable cause is involved.
Merchants can take advantage of this altruistic instinct simply and quickly by designating a product or product category for which a portion a proceeds will be donated to charity. Back in October, MarketLive merchant Fortunoff donated 20 percent of proceeds from selected pink jewelry — the color affiliated with Breast Cancer Awareness Month — to breast cancer organizations. Not only did the promotion boost the brand’s reputation by allying with the cause of breast cancer awareness — including coverage in O, The Oprah Magazine — but the “Power of Pink” product category gave shoppers a new way to connect with products, along with a strong motivation to purchase.
For more examples of holiday charity promotions, see the MarketLive blog post “Doing Well by Doing Good”.
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