Given Millennials are the largest generation in terms of population size, marketers should be focused on trying to reach them in meaningful ways. Millennials consider themselves to be active participants in global events, politics and social responsibilities and are influenced heavily by cause marketing. Implementing an authentic investment in a relevant cause, brands can engage and excite millennials in powerful ways. They’re demanding that businesses do their part in ‘helping’ the world by making an active choice to purchase products based on their social and/or environmental impact. 90% of Millennials are likely to switch from one brand to another, even if the price and quality are equal if the second supports a cause. That’s a whole lotta opportunity for brands to utilize. In addition to the obvious “I’m doing my part” aspect of purchasing these products, Millennials feel that they can trust these companies more and are more likely to recommend to others.
Interestingly, few companies are effectively using cause marketing + branding to reach Millennials. In order to be effective, companies not only have to create meaningful, sustainable cause-related programs but also consistently engage and clearly communicate the impact of those programs. Brands must create and relay a deep, powerful relationship between the company and the cause. If this isn’t executed effectively, Millennials are likely to ignore and move on. For more information, check out Adweek’s findings.