More accurately, it’s for two good causes: your bottom line, and the promotion of a charity or social cause that you believe in. I’m talking about “cause marketing.” Cause marketing (also known as cause-related marketing) has been defined as a partnership between a company and a non-profit organization that increases the company’s sales while raising money and visibility for the cause.
An early and often cited example of successful cause marketing involved raising funds for the restoration of the Statue of Liberty in 1983. American Express pledged a one-cent donation for every transaction made by its cardholders. American Express donated $1.7 million to the restoration, and experienced a 28% increase in card usage, creating a win for both organizations.
Cause marketing works best when there is an obvious link between the company and the cause. Bayer Aspirin paired up with the American Stroke Association to raise money for ASA and to educate the public about strokes. Bayer’s sales increased 9% over the same month in the previous year.
Research shows that cause marketing creates additional benefits that endure beyond the marketing campaign. Cause marketing has been shown to differentiate the marketer from competitors, increase brand loyalty and credibility, and even enhance employee recruitment and retention, as employees align with the cause and feel proud to be associated with a company doing good works.
If you don’t have a big advertising budget, you may be wondering how cause marketing can help your law practice. If your firm has a charitable donation budget, you may wish to identify a charity that closely aligns with the firm values and interests and those of the target clients of the firm. Create a long-term relationship with that charity to maximize public relations opportunities and to create a common bond with the cause among employees. Get media and other organizations involved in events that highlight the charity to help you have real impact on the cause you are supporting. Many charities now have departments that can help you brainstorm and orchestrate publicity campaigns.
Your genuine interest and concern for a cause can inure to your marketing benefit, even without the commitment of substantial funds or a true cause marketing campaign. By way of example, art lovers can participate actively in one of the Lawyers for the Arts organizations found in many states. Houston has the Texas Accountants and Lawyers for the Arts (TALA). Participation in and support of that organization by a business lawyer can nurture referral relationships with accountants while also nurturing promising artists. If you support public radio, for a fairly nominal sum you can have your firm’s name repeatedly broadcast over the radio by offering to match donations (up to a limit) made to the local station during their fundraising campaign.
I recently saw an excellent example of how support for a cause you feel passion for can garner good will and publicity for your practice and your firm. Thomas Kline, a litigation partner in the Washington, D.C. office of Andrews Kurth LLP feels passionate about the recovery of artwork looted from Jewish families during the Holocaust. He became the featured speaker at an event orchestrated by the Association of Women Attorneys at the Holocaust Museum Houston, as an expert on the difficult challenges involved in such recoveries. The event sparked an AWA member to seek his assistance to return what she believes to be such looted artwork. The Houston Chronicle picked up the story and ran a piece on Kline, the AWA member, and her sculpture. Later the AWA newsletter ran a feature article about Kline’s assistance and his speech. One could reasonably speculate that he gained goodwill and name recognition with potential clients and referral sources as a result of his efforts on behalf of a worthy cause. And now he’s getting a little additional publicity in this article, which will reach some more potential referral sources.
What cause strikes a chord with you? Does it align with your practice in any way? For example, if your firm has a family practice that includes adoptions, you might take on a significant role in supporting and promoting a children’s home, which could include providing some pro bono adoption services. If your firm represents construction companies, perhaps your activity to support the construction of a new hospital wing will keep your name in front of some potential clients. If you never outgrew your fascination with dinosaurs, getting involved with the natural science museum may foster a relationship with a wealthy patron whose company would make a great new client for your firm.
What cause are you passionate about? Following your heart just might lead you all the way to the bank!