Cause Partners Asset Leveraging - dummies

Cause Partners Asset Leveraging

By Joe Waters, Joanna MacDonald

As a cause marketing partner of One Warm Coat — a national effort to provide any person in need of a warm coat with one free of charge — retailer Burlington Coat Factory supported the charity with 8,000 coats in 2010 alone. Coats are obviously a natural asset for Burlington Coat Factory, and an asset of great value to any cause that clothe the needy.

Here are some steps you can take to help your business leverage its assets for a cause marketing campaign.

  1. Identify your assets.

    Can your business provide clothes, food, or medical supplies to a cause in need? Do you have more than one asset that you can bundle for additional impact? A food pantry doesn’t live by bread alone. They need many things to make their mission a reality. Pick one.

  2. Determine whether your assets are of value to a cause.

    Your company makes hairspray, but how does that product help a hospital? It may if it’s a cancer hospital with patients who need products and tips to care for their wigs.

  3. Analyze or survey your customers.

    Would your customers respond favorably to a connection between your business and a particular cause? Clorox thought it found its perfect cause marketing match when it partnered with The Sierra Club for its new line of Green Works Natural Cleaners. However, both organizations faced heavy criticism from environmentalists who complained that the logic of a green group partnering with a manufacturer of toxic products was not as clear as a mountain stream.

As asset is only an asset when cause, company, and consumer agree that its of value. Review your assets carefully so that they don’t become liabilities.