Philanthropic works of socially good companies are important, not only for the viability of the company itself but also for the improvement of social functioning and the overall betterment of lives. The future of humanity depends on finding innovative ways to more equally distribute necessary resources, improve access to health care, and educate the masses.
The socially responsible behavior of your business not only has the potential to build a strong sense of community among your consumers which may lead to increased revenue, but from an employee perspective, socially good works increase interest, engagement, and retention. Employees are more likely to commit to long-term company loyalty when the know that their employers have a business mission and vision that aligns with their value system. On the whole, philanthropy is good for business from every angle.
Many companies are working hard to develop and implement socially responsible initiatives, but finding ways to let potential consumers and employees know what a business is doing can be quite another. Getting the word out can be difficult, especially if yours is a well-established business whose brand, logo, tagline, and marketing strategy is consistent with your backstory but not necessarily your new social initiative. A company may find it difficult to break away from how it is steeped in current business culture and explore options for shifting its thrust.
If you’re looking to let others in on your philanthropic push, here are some ideas for marketing your efforts:
You can incentivize initiatives. When it comes to driving growth through innovation, many companies are finding that the best innovations come from within. Getting fresh ideas through new talent is important, but many companies are encouraging their established employees to step outside their comfort zone and think outside the box. Innovation that stems from within can lead to greater employee buy-in and motivation, making long-term innovation more sustainable over time. Developing a plan for incentivizing initiatives involves a great deal of patience and attention to detail.
Employers looking to incentivize need consider many potential scenarios for innovation, so that you can be as inclusive as possible. It’s important to think carefully about what you intend to reward, whether its product innovation or process innovation or both. Developing a plan means having a built-in mechanism for rewarding not only what works, but also rewards employees for taking the risk of failure. Without the hope that something may come of their ideas, there is very little motivation for employees to expend time, effort, and energy into the development of their ideas. As part of incentivizing initiatives, a company must also explore how a culture of innovation can be organically grown over time within the company and among employees. Consider some of the best and worst practices in incentivizing innovations within a company before putting a plan in place.
You can share your meaningful experiences. No matter how established and well known your brand is, there are ways to incorporate charity and volunteer work into your marketing strategy. It’s no secret that millennial workers and millennial consumers care about causes. One of the best ways to add a cause marketing campaign as a strategy is to choose a cause that works seamlessly with your business. If your company is a food retailer, you might want to look at something that helps feed the poor. If you’re in the pet food industry, sponsor pet adoptions or rehoming efforts.
Share photos and stories about your upcoming events on your website or use hashtags to spread the word about the philanthropic work of your company and to encourage engagement with events. Whether that includes #letssavethepups or #cincinnatipetadoption, hashtags can help individuals understand the actual social goods being performed on behalf of the community and provides access to individuals who want to know more or desire to become involved.
You can create and utilize new technology. Whether it is a new app that allows employees to schedule a time to volunteer, one that incentivizes charitable donations, or one that utilizes a decentralized cryptocurrency, new technology is a way to make the good works of your company known and expand the potential reach of the innovation. Blockchain technology is being used by a wide range of businesses like the Muirfield Investment Partners founded and managed by Thomas Zaccagnino. Infrastructure technology developed for one purpose can be utilized and targeted at a wide range of other industries and for other purposes, from product tracking to tokenizing, tracking, and trading company assets without a central authority to help settle the trade.
The value of Blockchain technology has been discovered and recently utilized by long-standing businesses like Wal-Mart, UPS, and FedEx and British Airways to drive their supply chain. Companies interested in socially responsible behavior and improved efficiency are finding that new technology can be adopted and adapted to fit their company needs.
What are some other ways you can let others know about your socially responsible company without overmarketing yourself? Feel free to share your ideas here.