July 11, 2019

The Importance of Corporate Social Responsibility

By: Valeria Hernandez

According to GlobeScan and BBMG,40% of consumers seek purposeful brands and trust in brands to act in the best interest of society.” This is a considerable piece of information – it tells us that consumers are putting corporate social responsibility (CSR) campaigns at the top of their list of things they look for in a company. If you’re not familiar with what CSR is, it can best be described as the act of companies giving back to their community and the greater society. It can include initiatives like providing monetary donations, implementing environmental sustainability programs, volunteering to support local nonprofits and much more!

While CSR isn’t a new concept, it’s one that has stood the test of time. So, you may ask why is CSR important and how can it directly impact your business?

We are living in a time where individuals want to establish a relationship with your brand based on trust, shared values and beliefs. According to the 2017 Cone Communications CSR Study, “71% of U.S. millennials hope companies will take the lead on the social issues they find important.” In an era where consumers are losing trust in institutions, CSR can drastically improve your brand reputation and align you with individuals who share similar values – the target audience you want to reach.

If you are looking to connect with millennials, CSR is an effective tactic to garner their attention. In addition, it’s crucial for organizations to give back to their community and implement campaigns that will make a difference; because after all, it benefits your business, employees, shareholders and the community!

A great example of an organization that does CSR right is our client Goodman, the global owner, developer and manager of industrial property and business space. The company aims to improve the quality of life for their communities through the Goodman Foundation. Their goal is to help disadvantaged people and vulnerable communities.

Goodman does this by collaborating with various charity partners throughout the world to make a change, including the Cerebral Palsy Alliance, The Fred Hollows Foundation, ozHarvest, and The Helsman Project to name a few. Employees are also encouraged to volunteer their time and support Goodman’s charity partners through company-wide fundraisers. Through these partnerships Goodman makes a positive impact, strengthens employee morale and gains the trust of its stakeholders, resulting in strong brand recognition.

CSR is also an important aspect for your media relations campaign. Companies can leverage CSR efforts to gain the interest of media. By communicating your socially responsible decisions and civic efforts, you can build awareness and strengthen the relationship with the individuals you are serving. After all, consumers will connect more with brands they will feel good about supporting!

Looking to start your CSR campaign? Reach out to us at info@olivecreativestrategies.com.