Doing Good is Good Business
Corporate social responsibility (CSR) has long been heralded as a way for companies and brands to not only give back to their community and the world but to effectively communicate the ethos of the brands themselves.
Brands looking to woo Millennials and GenZ have learned that demonstrating their core values through social responsibility is critical in connecting and gaining share of wallet with these younger audiences. Put simply, good CSR is good business.
There is no doubt the pandemic world we currently live in has had a profound impact on consumers’ views and attitudes towards social responsibility.
With messages of “we’re all in this together” surrounding us from the onset of the pandemic, it is clear that corporations can and should play a vital role in helping society through challenging times. It is equally clear that consumer expectations are higher than ever.
Brands that consistently maintain CSR programs that are genuine and authentic will see the greatest success. Take our client Soapbox, a company founded on the mission of empowering customers with the ability to change the world through every day, quality purchases. Soapbox is a company that has been able to thrive during the pandemic as a manufacturer of a necessary product in the fight against COVID-19. However, since its inception, Soapbox has donated a bar of soap for every product purchased to homeless shelters and food pantries across the country. To date, nearly 20 million bars of soap have been donated.
“Our goal is to sell an amazing product that happens to give back,” said David Simnick, Co-Founder & CEO of Soapbox. “Consumers don’t buy what you do, they buy why you do it but only if they believe it is authentic. Authenticity is legitimacy in the eyes of the consumer.”
Many companies talk about social purpose and caring for employees, customers and their community and now is the perfect time to make good on those promises. Consumers are demanding brands operate with a stronger social conscience and everyone and everything – including the bottom line – will benefit when they do.
What is your CSR strategy? Is it true to your brand values? How will you elevate it in 2021?