Not that this should be a surprise to anyone who is engaged in this world: a new study from Cone Inc. indicates that 79% of consumers say they are likely to switch to another brand if it is associated with a good cause, and 38% say they have purchased a product linked to a cause in the last 12 months.
Millennials are the demographic group most motivated to do good deeds with their purchases: 88% of its 18-to-24 demographic say they are likely to switch from one brand to another if it supports a cause, and 51% have bought a product linked to a cause in the last 12 months.
Here’s the big kicker: the 2008 Cone Cause Evolution Study suggests that linking products to causes can generate double-digit sales gains. Not bad for the fell-good sell.
Sales of a toothpaste brand that had been linked to a cause went up 28% compared to a control group; sales of a cause-related shampoo increased 74%. Brands that had been advertised as cause-related also generated much higher recall than those that hadn’t.
Wake up, folks. Smell the new world. And remember that there is much more to do.
While 91% believe it’s important for companies to let consumers know how they are helping in any given cause, only 58% believe they get enough details. And 50% believe that the government should actually regulate the claims.
Source: MediaPost. Story here.