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Corporate Social Responsibility is in Demand, Are you In Business?

 

What is your company doing to help contribute toward the progression of social or environmental causes? If you can’t answer that question, you’re late to the party. Brand participation in social causes is no longer seen as a feel-good charitable act. It may be the reason consumers are choosing to switch brands.

According to a study released last spring by Cone Communications/Ebiquity on the issue of corporate social responsibility, today’s consumer would likely point to the latter: a brand known more for its social responsibility than for its name. How much more likely? Study findings reveal that “90 percent of global consumers would switch brands to one that is associated with a good cause, given similar price or quality.”

Corporate Social Responsibility

This is an opportunity for brands to communicate the values that are inherent to their company, any social initiatives they support, and the impact of their involvement. Cause marketing initiatives can help relay that information to reach target audiences through results-oriented methods. The suggestion here isn’t to pick a cause and run with it just for the sake of following a successful marketing trend (a trend that is here to stay by the way),  but to develop a campaign that is informed by research and interests that appeal to your target market.

It doesn’t stop at becoming involved in social causes either; being able to communicate those initiatives and their results are key to successful cause marketing. An earlier study by Cone Communications indicated that “91 percent [want] to hear about companies’ CSR efforts and progress. However, for that communication to resonate, messages must be honest and clear. Research also revealed that the preferred communication channels for this information, in ranking order, were product packaging/labels, media, advertising, social media, and mobile.

If you’re playing catch up, begin to consider the following:

  • What causes is your brand affiliated with?
  • Which are most relevant to your brand and internal values?
  • Which do your target audience value most?

Cause marketing experts can help you figure that out to find your starting point before moving on to communicating your causes to your consumer market. For examples of successful cause-marketing campaigns, take a look at how Good Solutions Group helped Coca Cola, Odwalla, North Face, and other corporate brands develop successful, results-driven campaigns that communicate the causes your company cares about.

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