Having a social mission and being socially responsible are company assets that can help boost internal and external engagement. Integrating and seeing it as part of your business strategy will help you be in tune with your customers and create a more competitive advantage. The key though is ensuring that your social impact is strategically aligned with your brand and how you do business. Once you have all these pieces aligned, you will quickly see how being socially responsible can bring in diverse benefits.
Adding Meaning to The Dollars Brought In
You are still a profit-making business, but with a social purpose. Taking on a cause and making it part of your company-wide strategy can help to add meaning to the dollars brought in. There are many ways that you can go about adding social consciousness to your product or service. One way is in giving a small margin of a sale to a cause that your organisation supports. This gives each sale a dual-purpose - you make profit and help support the community at the same time.
B1G1’s ‘Business For Good’ is a great tool for businesses invested in attaching meaning to the dollars brought in. Their premise is simple: each time a customer makes a small transaction with your business, they get to make a change to someone else’s life at the same time. This is possible as the global-giving organisation is backed by a Business Partnership model, which keeps it going and creates a positive difference to the lives of the underprivileged.
A Positive Workplace - Help Keep Your Employees Engaged
When your employees feel that they are working for an organisation that believes in giving back, they will likely be more enthusiastic and engaged in their jobs. The culture of social giving and the activities around it can help foster a sense of community and teamwork within your organisation. This leads to happier and more productive employees.
Employees should also be given freedom and opportunity to choose how and where else they would like to give back. Organisations should encourage their staff to pursue their own cause they feel passionate about as part of their corporate volunteerism
Think Brand Differentiation
It can get tough to get your brand out there and reach your customers when you’re competing with all the other players in your industry. Communicating the good that your organisation is driving at helps to garner more of your customer’s attention. Being involved in a social cause is a sign of good financial health and will help to build trust and credibility that’s necessary to convert prospects to customers.
Ben & Jerry’s connects to it young customer base through the progressive and outspoken stance it takes on social issues, including climate change and marriage equality. Being an advocate for change is not only the right thing to do, it also helps to cultivate customer loyalty and differentiate the brand.
Wrapping it Up
Getting involved in a social cause should be built in the long-term strategy of your business. While you might not see a huge change quickly or in a short timeframe, it will bring positive returns in the long-run. Start with your mission and values and find a connection to a cause that’s a good fit to your brand.
Get help and speak to experts in the field when you are thinking about your social cause investment or looking for a match to a non-profit. An expert helps companies and non-profits speak the same language, even-out expectations and aims and build relationships that are designed for success.
Interested in hearing how your organisation can build a social strategy around your business ? Contact us here and let's have a chat !