Pharmaceutical companies have also partnered with nonprofits to improve reputation.
In 2010, consumers cast 61 million votes in the Pepsi Refresh Project. To put that into perspective, there were approximately 89 million votes in the U.S. general election. The Project allows consumers to apply for grants online and the ideas with the most votes each month get funded. Coincidentally, in January there are three rare disease nonprofits in the Pepsi Refresh Project that deserve your vote: National Organization for Rare Disorders (NORD), Jacob’s Cure and Cure San Filippo.
Cause Marketing is Effective
The 2010 Cone Cause Evolution Study found that 41% of Americans said they have purchased a product in the past year because it was associated with a social or environmental cause, a two-fold increase since Cone first began measuring in 1993.
The survey found when a company supports a cause:
• 61% of Americans say they would be willing to try a new brand or one unfamiliar to them.
• Nearly one-in-five consumers (19%) would be willing to purchase a more expensive brand.