Submitted by: Tracey Santilli, Chief Growth Officer, Tierney
Corporate Social Responsibility (CSR) and transparency have become a crucial aspect of business strategy and culture. Nearly 90% of consumers expect companies to act on social and environmental issues (Business News Daily, 2019) and when companies take a stand on important matters, they not only build trust with their consumers but with employees and potential buyers.
We have seen first-hand that when businesses engage in active CSR efforts, they not only help increase business and revenue but also promote awareness and progress on key cultural and societal issues. So where to begin? Here are a few thoughts for consideration.
Start with Gen Z
Gen Z is the future, making them a critical audience for any business to consider, and CSR is at the top of their checklist when choosing which brands they support. Companies must include this generation in their planning and ensure that their content is relevant and aligns with their values while meeting them where they are already (specifically social media for this group). Gen Z focuses on fixing problems, instead of forgetting about them, so they can serve as terrific ambassadors around social change (Forbes, 2019).
Articulate Values that Resonate
Today’s consumers want to spend their money on products and services that they believe in and follow companies that mirror their own beliefs. Does your purpose align with your customer’s values? Is your purpose actionable? Take a look. If it doesn’t, you may want to re-evaluate your approach and carefully consider the behaviors that will spur loyalty. But remember being authentic and genuine is key or you will lose audiences.
Partner with a Purpose
How can your company take a stand in a world that increasingly expects more from leaders and their businesses? Companies in the Philadelphia region who are excelling at corporate social responsibility are AmerisourceBergen, Comcast, Independence Blue Cross, and PECO. They use their philanthropic financial arm and their company’s purpose and expertise to partner with community-based organizations in order to advance sustainable practices. Successful CSR efforts are built into the fabric of the business model and engage external entities to create a sustainable, year-round impact.
Doing good doesn’t just feel good, it is good for business. The CSR impact of your actions will not only appeal to socially conscious consumers and employees but can also make a real difference in the world. To learn more about how your company can advance CSR efforts, send us an email at: email@example.com.