Companies create an experience throughout the whole customer journey. Whether we are talking about a product or a service, the customer always comes first. And in today’s climate, customers are pickier when it comes to becoming loyal to a brand.
Nowadays, the pressure lies down on the companies. They have to do more. But what can a company do to have a stable customer base? What do customers need other than the products and services?
Here lies the answer – they need companies to focus on more than just profit. Customers need to identify with the company’s core values. And finding the sweet spot between what you offer and what the customer needs is a huge success. There are a lot of things that companies can provide to customers besides a product or a service, such as value, loyalty and trust, unique experiences, efficiency, and social responsibility.
In this article, we focus on one of the company’s key elements for increasing business efficiency and building better relationships with customers. Social responsibility as a source of a company’s success is not a myth. Even the employees believe that a company shouldn’t focus only on profit. Research made in 2020 by Porter Novelli, found that almost 88% of employees want to work in a company that positively impacts society.
But what are the benefits of being socially responsible for a company?
Improve company reputation and brand recognition
For a company, one doesn’t go without the other. Brand recognition is not as important if a company’s reputation is low. People engage in stories, so your company can be a great example of how social consciousness and responsibility can attract the right audience.
It is always a good idea to associate your brand with successful stories on positive social acts. Word-of-mouth can be the best media coverage you can ever have, isn’t that right?
Boost growth and increase customer loyalty
As a company, it is crucial to show your customers that you give back to the community. A study shows that 70% of customers are more loyal to socially responsible companies. Not only will you gain more customers in your database, but you will also contribute to a better society. And even though it is not always about profit, a large customer base can boost your financial growth.
Be an example
It is not always a bad idea to go into a battle with your competition. They will push your company’s limit much higher than you thought you could ever be.
So, why not think of the competition as something that can positively impact your work and vice versa? By taking part in socially responsible activities, you can become a positive example for other companies, even your competition. More companies contributing to social responsibility can create a better society! And a better society means a healthier economy.
Social Friday as a CSR initiative
Social Friday events happen four times a year, where NPOs, companies, and individuals from the local community participate in social activities. We always do it on Friday, because, let’s face it – Friday is the least productive day of the week. And in times of hybrid working models where team gatherings are more important than ever, why not enrich these team gatherings with a social cause?
As a company, hosting Social Friday events can improve your brand image and work environment, and will help you have better customer engagement.
How can you benefit from Social Friday events?
Better working environment
You can easily engage your employees by suggesting CSR ideas in the company. And by engaging them, you create a more productive working atmosphere. Nowadays, it is hard to keep experienced employees in the company. A study from 2020 by the Workforce Institute shows that 52% of employees in the US are seeking new jobs.
Employees appreciate the company’s initiatives. Organizing a CSR event and focusing on a few social activities can show your employees that you think about issues outside the corporate world.
When your employees volunteer for a local social cause such as planting trees, cleaning the park, or having a “ride a bike to work” policy can improve the relationships within a working space by creating togetherness. With these acts impacting society, you can engage your employees in investing and being longer in your company.
Brand appreciation
Companies should strive to become more socially responsible. CSR activities can be of high importance for engaging with customers. A survey by NielsenIQ says that 50% of customers are ready to pay more for a product from companies that prioritize CSR initiatives.
Instead of just talking, you can be active and contribute to the local community by building trust, engaging, and showing your community that you care.
There are different examples of how you can do that: organize your employees and visit a nearby dog shelter, create an eco-friendly environment that will not pollute the local community, or visit and help the elderly in a retirement home.
Here are some other activities for companies who want to participate in the next Social Friday event:
- Visit a retirement home and help the ones in need
- Offer your help at a dog shelter
- Plant trees and clean up the local park
- Create volunteering opportunities for employees
Let’s connect, act and impact at the upcoming Social Friday event!
The Social Friday initiative is ready to change the world one Friday at a time. At the upcoming event on September 30th, you will get the chance to challenge the status quo and celebrate togetherness. Hosting a Social Friday event can be the best thing that can happen to your business and an unforgettable experience for your team.
Are you ready to reinvent Fridays?
Join us here