Why Should You Care About Corporate Social Responsibility?
What is Corporate Social Responsibility?
Corporate Social Responsibility (CSR) is a business model based upon an ethical and sustainable way of dealing with environmental and social issues. This includes a careful consideration of the community, environment, human rights and society in which it operates. These efforts range from donating money to non-profit organisations to implementing various environmentally-friendly solutions and being both aware and responsible throughout.
Improves Public Image
Companies that demonstrate their engagement with CSR are perceived as more philanthropic than those who don’t take any action. Businesses can improve their image by supporting non-profit organisations, donations of products and also services, volunteer plans, and potential partnerships or ambassador schemes. Through differing CSR activities businesses can actively create a positive image and become more favourable in their customers eyes.
An Advantage Over Competitors
Companies that implement a CSR strategy, standout from their competitors by showing that their brand is committed to helping others. Customers increasingly show support for businesses that openly care about their community, the environment or societal impacts. Research shows customers are willing to actually pay more for products supplied by sustainable brands.
Reduce Business Costs
A well thought CSR strategy can help reduce business costs. There are many simple changes in terms of sustainability that can save money. Using less packaging, reducing single-use plastics or swapping light bulbs for eco-friendly ones are some of the fastest cost reduction solutions we’ve seen recently and also at the same time, promote steps towards becoming a sustainable business.
Increased Customer Engagement
If your business is involved in CSR activities, make sure you communicate it to your customers, this is not only something to shout about but an ethic that is now becoming a standard for great brands. Posting it across social media channels, clearly shows your effort and adherence to local trade and this digitally spread the word about your business being engaged in a socially beneficial cause. Not only it will help raise awareness about your brand but also engage with clientele and attract new customer that care.
Top companies with great CSR strategies:
In a modern world, any action that returns a positive reaction and response purposely shows you are doing the right thing for both the greater world, industrial change and forms the platform for a future proofed business.
If you need help with creating a CSR strategy for your business, we are here to support you. Drop us an email on firstname.lastname@example.org and we will be in touch to assist you!