With so many deserving causes out there, it can be a challenge to settle on a charity of choice for your business. Should you focus on international needs, or support something closer to home? While every business will find a different solution, here are four reasons to partner with an international development organization like World Vision for your cause marketing strategy.
- Consumers care about international development — and want to support businesses that do too.
Last year, a study commissioned by World Vision found that 31 million U.S. households with incomes of at least $50,000 are open to giving to international charities. These households donated at least $100 in 2017, which shows that they value the impact of charitable giving. Additionally, the 2017 Cone Communications CSR Study found that 87% of consumers will purchase a product because a company advocated for an issue they care about.
This presents a big opportunity. By aligning your cause marketing with international development, you can increase your competitive advantage, attract these consumers, and build your brand as a company that shares your customers’ values.
- Global development causes are diverse. You can choose the right one to align with your strategy and match your footprint.
What are you — and your customers — passionate about? Whether it’s healthcare, education, disaster relief, or providing holistic care to children in need, there are causes critical to international development that make sense for your company to support.
This also gives you more flexibility in structuring your cause marketing strategy. Some companies align their products with a cause. Others hardwire corporate social responsibility into their business model, and donate a portion of every purchase. If you have an international presence or source raw materials and products from overseas, you can even look for a nonprofit partner that works in that region.
By making your cause marketing strategic, you can show consumers and employees that your corporate social responsibility efforts are authentic, and that you’re interested in more than just the bottom line.
- Globalization is increasing — and many of your consumers are global citizens.
As technology, travel, and other developments continue to shrink our globe, more consumers feel a connection with others around the world. In fact, research commissioned by Western Union in 2017 found that over half of millennials consider themselves global citizens rather than citizens of a single country. Furthermore, the same report found that 88% of respondents believe countries need to collaborate to build a better future.
Whether or not your business has an international footprint, supporting international development is a great way to tap into this mindset. Consumers will recognize and respond to your efforts to take your corporate social responsibility to the global level.
- International development is underrepresented in charitable giving, offering you a way to stand out from the crowd.
According to Giving USA’s 2018 Annual Report on Philanthropy, international development represents only 5% of all charitable giving in 2018 — a small amount considering the scope of international development. Even so, it was one of only two giving segments that grew last year.
Clearly, international development is on people’s minds. And since market share is still so low, it’s a great time to be an early adopter and take advantage of the current growth trend.
As consumers think about which brands to do business with, you can position yours as one with a global perspective and the passion to make an impact.
Intrigued by these potential benefits? We’d love to help you find the strategy that works best for your business. Simply fill out our form to learn more about becoming a Cause Marketing Partner. We’re looking forward to working with you.