A German company called Tribe uses artificial intelligence to humanize their chatbots. The idea is simple. They attempt to re-innovate customer interaction. They are personalizing communication to make customers feel that real humans hear them. Their cause to bring technology and humans together helps reduce the chasm between a human and a bot, is taking them closer to their consumer base.
Cause-marketing is the future that new businesses or startups should not overlook. They should craft their products to fulfill a cause, a purpose. Progressive organizations connect with a goal for strategic advancement of the brand name. Here, Microsoft is an immediate recall. BP Sustainability Report 2018 reports that companies with a purpose attract more buyers.
Can Cause Marketing Impact your Business?
Today, organizations are getting into cause-marketing for good reasons. The Marketing department is helping businesses identify their cause. They then collaborate with various functions to create a brand advantage. B2B (Business to Business) and B2C (Business to Consumer) have evolved to B2H (Business to Human). Check out these companies that have embedded cause in their products.
Reports and Data
Firstly, according to the 2017 Cone CSR report, 87% of Americans buy a product owing to the company’s cause advocacy. 70% of the respondents think that most companies treat CSR obligator without a heart. 92% of respondents prefer companies that care for the environment. Nine out of ten respondents agree to switch brands over one’s association with a cause. Subsequently, this report has a lot to infer.
Therefore, startups should rethink marketing’s potential and involve a strategist from the beginning. A marketing strategist can identify the cause that concerns the target audience. They can also map a product to a cause in case they join later. Millennials will do business with companies that guarantee their satisfaction with social good. Consider child labor, slavery, human trafficking, environmental damage, illegal mining, etc. for causes.
Cause Marketing for Commerce
Secondly, what will help you here is a recall of the fourth paragraph, where we discussed the transition of B2B and B2C to B2H. Forget that you own a tech-product company for businesses or a tech solution for everyman. Approach your cause-marketing strategy as a B2H and marry it to an important cause. This approach will help you align your business to a cause that matters to your consumers. If you own an education startup, use the technology to educate the underprivileged. Likewise, if you own a food startup, your technology should be able to locate hungry people and feed them.
Cause Embedded Commerce
Thirdly, it is trite to market a tech-product by its functionality or price. Cost-saving is more the attraction for a buyer. Buyers would go for businesses that take a side, fight for a cause, and solve problems. Heard about Ecosia? They are an alternative search engine. With every search query, they sow a plant in places bereft of soil nutrients or adequate rainfall. By planting trees, they are curing water levels to restore natural habitation. So here you can see how they have embedded a cause in your offer that you are likely to try out now.
Cause Marketing: Conclusion
Finally, startups should not waste time and make arrangements to review their cause-marketing strategy. They should invite departments, including product and marketing, and sketch your cause-marketing roadmap. Departments should know that cause-marketing is an excellent technique to impact ROI. Cause-marketing is the new strategic avenue to take a startup closer to its people and profit. Need help?