Whether you call it strategic philanthropy or cause marketing, non-traditional methods to create brand awareness continue to thrive. Case in point: the Canadian Imperial Bank of Commerce, Canada's fifth largest bank, announced today a $1-million donation to the Centre for Addiction and Mental Health (CAMH), a leading teaching hospital in Toronto.
"As CIBC has a strategic focus on youth, we were drawn to CAMH because of the innovative and effective programming they offer to children and young people," said Christina Kramer, executive vice-president of CIBC's retail banking group.
Whether this investment comes out of CIBC's marketing budget or donations budget is unclear. However, there is no question that this is a win win arrangement. The CAMH receives much needed funds to enhance programs and operations at its respected teaching hospital while CIBC gains on multiple fronts: heightened profile in the Toronto region; goodwill associated with donating to a worthwhile cause, likely brand exposure and recognition at the facility and a much needed morale boost for its 40,000 plus employees (following its sub prime slime tarnish).
Give CIBC credit - cause marketing pays huge dividends that can't always be measured in a straight line ROI kind of way. Well done!
"As CIBC has a strategic focus on youth, we were drawn to CAMH because of the innovative and effective programming they offer to children and young people," said Christina Kramer, executive vice-president of CIBC's retail banking group.
Whether this investment comes out of CIBC's marketing budget or donations budget is unclear. However, there is no question that this is a win win arrangement. The CAMH receives much needed funds to enhance programs and operations at its respected teaching hospital while CIBC gains on multiple fronts: heightened profile in the Toronto region; goodwill associated with donating to a worthwhile cause, likely brand exposure and recognition at the facility and a much needed morale boost for its 40,000 plus employees (following its sub prime slime tarnish).
Give CIBC credit - cause marketing pays huge dividends that can't always be measured in a straight line ROI kind of way. Well done!
Keywords: strategic philanthropy, cause marketing, brand awareness, ROI
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