19 Aug What Are the Hidden Benefits of Corporate Social Responsibility?

Branding and CSR continue to play an important role, especially during times of crisis. Dedication, honesty, and community outreach helps organizations keep their reputation and brand authentic during this time. By supporting causes during the coronavirus and helping charities and nonprofit organizations tell their story, companies show involvement and engagement – both of which audiences of all demographics are really wanting right now.

Every day, we see examples of companies that put their people first. Companies are adapting to the coronavirus in creative ways that will promote their brand while caring for other people. This formula equates to great business and some hidden benefits.

Let’s explore them here:

The Power of Social Media

In the modern digital era, companies that show corporate social responsibility are getting awareness and exposure for their involvement. Your brand’s reputation will benefit from doing positive things for your community because consumers feel good when buying products or services from brands that are helping the community.

Don’t miss the opportunity to share your CSR initiatives publicly and show your community involvement: post, share, and tweet your social responsibility programs. Letting the public know about your efforts will only work to improve your brand’s public image. People enjoy commenting on and sharing positive posts of people making a difference. In turn, you’re also inspiring others to roll up their sleeves and help their community as well. It’s a real win-win!

After decades of rightsizing, downsizing, and outsourcing, doing business in an ethical way matters more than ever before.

BENEFIT: You will see a growth in your social media platforms and greater awareness for your organization. Awareness leads to relationships and sales.

Positive Public Attention and Increased Brand Awareness

CSR positions your company as a leader and a positive role model in the community. Also, when organizations stand out for the good they are doing in the community, the media becomes interested in highlighting these types of positive features. With many negative stories in the news, it’s essential to have positive news to share. Not to mention, there are also many awards for companies that promote good in the world.

This is important because consumers will assess your public image when deciding if they want to buy from you (unconsciously or with intention). Something simple, such as employees volunteering one hour a month at a charity, can show that you’re a company committed to helping others. As a result, you’ll appeal to consumers.

If you’re committed to ethical business, the good news will spread, and more people will hear about your brand, which will increase revenue.

BENEFIT: You will earn media coverage for your efforts which, in turn raises awareness for the causes you want to support as well as your business.

Cost Savings

The financial benefits of CSR are also significant, as cost savings and improved operational efficiencies will come from policies and activities identified through a systemic CSR approach.

Although investing in CSR may have a limited financial effect in the short term, research shows that it offers an excellent long-term economic advantage. Many simple decisions that promote sustainability, like using less packaging, will help decrease the production costs.

BENEFIT: You can save money on things like energy consumption to legal fees. Giving back saves money in the long run.

Competitive Advantage

By embracing CSR, you will stand out from competitors in your industry. You can establish yourself as an organization that goes one step further by considering environmental and social factors.

BENEFIT: You can be the preferred choice when an individual is deciding on which company to do business with. People want to do business with companies that give back and also which they have had name recognition (via social, the news, and other communications).

CSR isn’t about stroking a check to your favorite charity. It’s about getting involved in a more meaningful way, sharing the news of your efforts to help inspire others while at the same time reaping the benefits of doing good.

If you would like to learn more about corporate social responsibility, go to our blog page. If you would like a free consultation with NSPR, call us at (813) 865-3093.