Corporate social responsibility (CSR). You may have heard the term, but many don’t really understand what it is and why it must be part of a marketing strategy. It is often misunderstood or looked at as something only a Fortune 500 company should be doing.
These are big misconceptions, which hopefully I can shed some light on.
CSR is something that many companies do at a small level but not publicize it. Maybe it’s time to change that. Continue reading to know how CSR can affect a business.
What Exactly Is Corporate Social Responsibility?
Corporate social responsibility is the process of a business doing something positive for society. CSR can be anything from giving money to charity to implementing green energy initiatives. Think of it as a way for a company to do something good, as opposed to focusing solely on profit.
There are various reasons why a company would want to be socially responsible. Regardless of which reason you choose, you cannot ignore the benefits of CSR. One of the biggest is to bring your business into the spotlight.
Businesses need a way to show their personal side and break away from the “evil corporation” persona that is sometimes (and often unfairly) placed upon them. “In today’s environment, a business needs to stand out from the crowd,” says Rand. “And, one of the ways to do so is getting involved in your local community [and] giving back.”
Getting the Marketing Effect, Without Using It for Marketing
When it comes to social responsibility, I like to compare it to Wikipedia marketing. You do not do it for the purpose of marketing, but you absolutely receive the marketing benefits. Here is what I mean.
If you are a company and make it part of your marketing strategy to donate to charity, you are doing things backwards. You need to donate to charity as part of your “responsibility” as a company, and you will be rewarded from the marketing effect.
Another way to remember this is to think of the term “mobile-first.” Or, like my advice to never write content for SEO purposes, but keep SEO in mind when you are writing.
Devin Thorpe points out in an article on Forbes that most people involved in social responsibility are doing it correctly with this method. “Most corporate do-gooders approach their social good efforts with more of an eye toward impact on the community than on the firm,” he says.
Many people will argue that it doesn’t make a difference. Believe me, people can see through fake corporate responsibility. If it looks like a sham, people will assume it’s a sham. Being sincere with how you run your CSR will show that you have the marketing effect in mind, but are not doing it solely for marketing purposes.
Ways a Company Can Be Socially Responsible
There are a number of ways a company can implement some type of corporate social responsibility program. Some companies choose to simply take part in philanthropic efforts, while some incorporate it into the overall business model of the company.
When looking at a way to implement a CSR program, don’t look at the big guys. Companies such as Microsoft and Google are not good examples for small businesses. While larger companies do have good CSR programs, it is sometimes better to focus on smaller businesses to see how they are doing with limited resources. After all, Microsoft has money to burn in the CSR arena.
One way to get involved is to become philanthropic. You can either give money to charity, or make donations based on a percentage of your sales.
One of my favorite places that does this is 2 Percent, a local barber shop in Southern California that has the pleasure of cutting what hair I have left on my head. The concept is fairly simple and you can guess it from the name: each month the business gives 2 percent of profits to charity.
Some companies take a different approach, such as online lingerie retailer Leonisa. As opposed to just donating money to a charity, it uses its clout in the lingerie space to bring awareness to breast cancer. Since 2005, the company has been providing educational information on when and how to perform breast exams.
The Non-Philanthropic Route
You can also enter the CSR world without philanthropy.
Some companies set aside revenue to provide scholarships. This type of CSR requires engagement from an audience which leads to site visitors and more customers. A great example is USA Medical & Surgical Supplies which offers a scholarship contest for university students actively enrolled in a health-related field. Brilliant idea as the eligible recipients are future potential customers. How’s that for a marketing effect?
Still unsure? Rand recommends getting your team involved. This makes perfect sense as they will part of the CSR that you implement.
Last bit of advice on CSR. If you are still having trouble coming up with ideas, check out CSRWire, an online publication dedicated to corporate social responsibility. You can chat with others and get some ideas on where to start.
Last Word on Corporate Social Responsibility
The “why” of CSR is pretty much covered herein. It is a way to give back while at the same time helping your business stand out in the crowd. Keep in mind that corporate social responsibility should not be forced, but rather something that you do because it is right. By giving back in one form or another, you will also help make a name for yourself.
This article was taken from here.