Is cause marketing more or less important in tough economic times?
In difficult times, jewelers must work harder to attract customers’ discretionary dollars, because jewelry store shopping isn’t high on their list. So, it’s even more important to show you’re a caring corporate citizen. With consumers thinking twice before spending, and increasingly basing buying decisions on how they perceive a retailer’s corporate citizenship, anything jewelers do to motivate them to come into the store—like cause marketing—is important. Should cause marketing specifically target the affluent in tough times? Jewelers who market properly should already have identified and targeted their appropriate customers, including affluent ones. Remember, though, while affluent consumers are better able to afford jewelry in tough times, they don’t want to feel self-indulgent. Cause marketing helps them feel good about a purchase, knowing it helps do good locally or nationally. How do jewelers develop a cause marketing strategy? First, identify causes that best fit your business a