Corporate Social Responsibility (CSR) allows businesses large and small to enact positive change. It’s when companies choose to do what’s right not only for their bottom line but also to build customer trust. Consumers feel that when they use a product or service of a socially responsible company, they are doing their part. The more socially responsible the company, the more supportive their community and consumers become.
Corporate social responsibility helps gain customer trust by caring about issues such as Earth Day, raises awareness, and encourages social change. Although there are thousands of companies doing their part, the efforts of large global corporations have far-reaching results that can impact global issues, from hunger and health to global warming and climate change. Keep reading to see examples of how some major brands are doing CSR successfully (along with one brand that re-evaluated its CSR strategy after facing criticism for having the wrong social impact).
To millennials and Generation Z, socially responsible companies are even more important. They believe companies should invest in improving society and look for solutions that assist in those improvements.Companies should share how they are trying to make a positive impact on the world, so the public can see their pro-social initiatives. Showcasing efforts is key so it’s important to learn how to market to millennials because these efforts will sway the choices they make as consumers.
Millennials also like to take part in initiatives such as volunteer work or making donations. As ever more companies begin to see the impact their socially and environmentally conscious efforts have on a consumer’s perception, the more chance there is that they will begin initiatives of their own.
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