Last month, the Ice Bucket Challenge swept the internet by storm and had marketers everywhere salivating over its viral reach and consumer engagement. This structure of individuals raising money for a cause via their networks is called peer to peer fundraising and it’s grown by leaps and bounds since its humble beginnings in the race space (charitable runs, walks and rides).
Quite a few companies jumped on the Ice Bucket bandwagon with CEOs challenging CEOs, large groups of employees getting doused and mascots taking the plunge. The viral, grassroots nature of this phenomenon makes it doubtful that any of them will support the fight against ALS long term. But for a precious moment, they were engaged.
What if companies could marry the individual engagement of these peer to peer fundraising efforts with their own corporate citizenship programs to move the needle on their own business objectives as well as a social cause?
For an example of what this might look like, we turn to our neighbors to the north and the Canadian bank CIBC's long history with CIBC Run for the Cure, a program of the Canadian Breast Cancer Foundation.
This fall, for example, in addition to their very visible title sponsorship of the hugely popular race event, CIBC will put up Walls of Hope in more than 1,100 branches and invite consumers to write words of hope on a ribbon decal and post them on the display for a suggested $2 donation.
Branches will also offer an exclusive CIBC Pink Collection featuring a lunch container, tote bag, cosmetic bag and umbrella each available in exchange for a suggested donation.
By introducing a cause-marketing element to their participation with the charity run, CIBC offers consumers additional options to participate, donate and, most importantly, spread their word about their involvement with the cause on a more grassroots, branch level. The halo effect spreads even further for CIBC’s already strong cause and community identity, increasing customer loyalty and brand affinity.
These iterations to corporate involvement with charitable causes are critical to their continued effectiveness and authenticity. By more fully integrating a cause into every aspect of their business, a company is able to tell an intentional, ongoing story about their commitment to a cause and bring customers alongside them.
Whether it’s dumping a bucket of ice water over their heads, running a marathon or jumping over fire, you can count on consumer participation if there’s a worthy cause with a clearly articulated story to rally behind. Next time, will your company be jumping on the bandwagon again or leading the consumer cause charge?
