5 Things to Consider When Committing Your Company to Social Good

Being committed to social good isn’t just a charity move anymore. With more and more consumers valuing companies that strive for a better world, it’s becoming a necessity to make social good a priority in your business.

When properly executed, cause-marketing campaigns not only effectively communicate your brand’s message, they also have an impact on sales. In fact, according to a recent study conducted by Unilever, 33 percent of consumers buy from brands doing social or environmental good. Studies also show that with price and quality being equal, consumers are more likely to buy products that support a cause over products that aren’t. Some will go as far as switching to a new brand affiliated with a cause they support.

Being a good corporate citizen is just as important as delivering the best products and services available on the market. That is why it’s important to serve the public good by investing in programs and partnerships that improve social equity. That said, as attractive as cause-marketing may seem, executing a cause-marketing campaign is a delicate process. Carefully craft your cause marketing strategy using the following steps:

Do Research

Before you decide to enter into a partnership with a cause, it’s important that you’re as informed as possible about what the cause is and what it stands for. Find out what the capabilities and limitations are and what synergies can make a partnership mutually beneficial.

Ask questions to make sure the cause and your brand are compatible. Also, make sure to vet any organization you partner with. Ask for their financial records, or look them up on GuideStar.org to make sure that you are partnering with a legitimate cause.

Know Your Brand

As important as it is to know who you are partnering with, it’s even more important to be clear about what your brand stands for and how it relates to your cause partner.

Having a clear understanding of what your brand represents and your consumer’s expectations will go a long way in creating a partnership that will work well for both you and your cause partner.

Make It a Team Effort 

When starting a cause-marketing campaign, the partnership between your brand and your cause partner should be felt at all levels of your organization. Make sure that your employees and team support the partnership and are engaged in helping both parties meet their goals.

Set Goals 

Partnering with a cause is a long-term commitment. Both partners must set a manageable plan for your campaign together and agree on key milestones and deliverables.

Are you trying to increase awareness of your products or service? Are you trying to sell more goods? Are you trying to improve your brand image? Whatever your goals are, make sure to measure how successful your efforts have been.

Put Your Heart Into It 

In addition to alignment between your brand and your consumers, the cause you take on must be near and dear to your heart. If your organization doesn’t fully support the cause you’re aligning with, then all the work you put in will be for not.

Our Corporate Social Responsibility program invests in scalable and self-sustaining programs that use innovation to meet some of society’s biggest challenges. Our social investment programs focus on three areas where we believe we can add the most value and make a significant and lasting impact.

Read more about social good here on Tech.co

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Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world's most promising young entrepreneurs. YEC members generate billions of dollars in revenue and have created tens of thousands of jobs.
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