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In the Age of Fierce Competition, Socially Responsible Companies Will Have an Edge
By Daniela McVicker
According to the surveys, 76% of consumers decline to buy products from companies that held views that conflicted with their beliefs. And 87% of those surveyed said that the availability of social responsibility policies positively influences their buying decisions.
If you’re looking to incorporate social responsibility into your business model, consider these six ways to improve your corporate strategy—sooner rather than later.
1. Raise brand awareness.
Do you want to boost brand exposure? Start practicing social responsibility instead of spending more money on expensive advertising campaigns, and you will move toward that goal.
To get your brand noticed, start participating in events organized by local community and environmental organizations. People will remember your brand name and will want to learn more about your business.
2. Get your brand name associated with something positive.
If you want to achieve success in the long run, align your business with something positive. Whether you join the zero waste movement or sponsor a local charity organization, it will significantly benefit your company.
According to statistics, 92% of buyers have a more positive image of businesses that take part in resolving social and environmental issues. If you have a goal to form positive attitudes toward your brand, go ahead and incorporate social responsibility. It will allow you to boost your marketing efforts and take your sales to the new level.
Conscious Company Media is part of the community of Certified B Corporations. Learn more about this growing movement of people using business as a force for good, and sign up to receive the B the Change Weekly newsletter for more stories like this one, delivered straight to your inbox once a week.
3. Show that you really care.
Socially responsible customers prefer to choose products produced by socially responsible companies. People tend to believe that businesses that care about the environment and the local communities also care about their customers.
Tiffany McGregor, a marketer for Top Writers Review, says: “Modern customers desperately want to feel valued and cared for. They demand to be treated in a special way. And if you start practicing social responsibility, it will be easier for you to meet the high expectations of your target audience.”
4. Keep your company afloat.
Society’s expectations regarding the performance of businesses have been growing for a few past years. And numerous studies show that people are ready to pay a higher price for products from socially responsible companies.
Some business owners do not want to incorporate social responsibility because they wrongly believe that high prices will scare their customers away. But the truth is that cost and quality are not the only things that matter for many modern buyers.
5. Hire the best marketing experts.
Results of the recent studies show that 40% of Millennials and members of Gen X prefer to work for socially responsible companies. Young people would take a pay cut to support the companies that care about the environment. To grab the attention of the best marketing professionals, change the way you do business.
If you start helping local communities and participating in environmental and natural resource management activities, purpose-driven marketing gurus are more likely to join your team and design campaigns to build your sales.
6. Make your company stand out.
How many companies in your niche have incorporated social responsibility into their business models? If most of your rivals have done that, you should make the first step toward social responsibility as soon as possible to avoid missing out.
If your competitors have not integrated sustainability into core operations yet, the situation is different. You should take an opportunity to become the first socially responsible company in your niche and increase market share.
The Bottom Line
In 2019, social responsibility is not an option; it’s a necessity. So don’t waste your precious time—make the decision to join a global movement for profit and social good. Start using social responsibility as your marketing advantage and see your business growing.
This article was originally published by Conscious Company Media.
B the Change gathers and shares the voices from within the movement of people using business as a force for good and the community of Certified B Corporations. The opinions expressed do not necessarily reflect those of the nonprofit B Lab.
6 Ways to Ensure Business for Good Is Part of Your Corporate Strategy was originally published in B the Change on Medium, where people are continuing the conversation by highlighting and responding to this story.