Knowing how much your campaign, product, or services may affect the environment is an essential aspect of your image in the line of business. Brands that assume responsibility for social issues, might ensure reliability to customers. In this article, you will understand and notice how this strategy will boost your business.
Nielsen reported that 66% of consumers are willing to pay more for brands that indicate a commitment to social issues
What is Social Responsibility Marketing (SRM)
Social Responsibility Marketing or ‘SRM’ is a practice that a company adopts to show its awareness of its product or service’s social and environmental impact. The approach can also be known as green marketing or ethical corporate marketing.
Some companies might falsely claim to be socially responsible through campaigns, referred to as greenwashing. Aside from that, SRM practice is a strategy used by companies to avoid advertising harmful products to the public, such as tobacco or gambling.
SRM is important to bring transparency to these methods and increase awareness of what the public consumes. One part of this method is promoting your corporate social responsibility efforts, which might be maintained through volunteering for a cause, donating, supporting communities, and perpetuate sustainable practices.
Corporate social responsibility will help to increase the brand’s choices to improve its moral and ethical image.
How does it affect my business
Sustainability is a worldwide concern that continues to gain momentum—especially in countries where growing populations are putting additional stress on the environment
Grace Farraj, senior vice president, Public Development & Sustainability.
Sprout Social stated that 71% of consumers think that is important for a brand to stand on social issues. Recently, more customers have been checking on companies’ behavior toward social issues, and the concern about social responsibility has extended to marketing strategies.
This type of approach is effective since it can change and expand a company’s image through the public’s eyes. By engaging and investing in sustainable production applications, the brand can grow its reputation as a responsible name in the industry. It directly affects the consumer’s life.
According to a recent survey conducted by Deloitte indicated that 40% of the respondents were actively seeking out brands that demonstrated environmentally sustainable practices or values, 38% were willing to pay a higher price for products that were more durable and longer lasting, and 37% were choosing brands based on their ethical practices and values.
This might end up increasing its customer loyalty rates. As a result, companies can improve their income while also making a positive impact on society.
SRM examples with brands
I wanted the packaging to be beautiful, but also functional with an earth-conscious approach. We eliminated boxes where we could, we have refill systems, and we use recycled materials where possible. Nobody is perfect, but I really believe we can try our best to do right and we’ll keep evolving as we go.
Rihanna
Fenty Beauty, Rihanna’s owned beauty brand, focused on a simple approach to social responsibility: transparency. The companies have faith in keeping their openness about their eco-friendly initiatives. Their main goal is to reduce its harm to the environment. Their team is dedicated to reducing waste by avoiding using boxes when it’s possible and by using recyclable materials for packaging.
Refillable systems are one of their strategies as well, by allowing customers to buy a product and when necessary purchase a refill, would both save money for the customer but also reducing packaging waste for the brand.
Coca-Cola, a worldwide-known beverage company, owns over 200 brands and offers reduced-sugar drinks in smaller packages. They aim to collect and recycle a bottle or can for every one they sell and make 100% of their packaging recyclable. They have a focus on reducing their carbon emissions by 25% by 2030.
18.5M people’s lives improved through access to safe drinking water, sanitation and hygiene since 2010. Our programs focus on improving community access to water and sanitation, while promoting improved hygiene behaviors to make positive impacts on health and development.
Coca-Cola’s social impact section on its webpage.
Aside from that, the company takes water conservation as a serious matter. As a foundational step, the company prioritizes sustainability in its corporate strategy, and it is fundamental to how they evolve and report on its business and sustainability efforts.
Bold Creators Club can help you reach your goals
To have a successful Instagram account, you need to put in the time and effort. You can’t just set up your account and expect people to start clicking on your links. You need an engaged audience that is interested in your brand. This is why running Instagram ads is still a good idea – it will help you build up a following and figure out what engages your target customers best.
Dealing with social media influencers is not always easy. Actually, most of the time, companies and influencers can’t communicate clearly, as there is a lack of a cultural, linguistic, and social bridge that connects both.
When it comes to Latin influencers, this communication barrier is even bigger. Not only because a lot of people in countries like Brazil or Colombia don’t English, but also because these countries are highly multicultural, with cities with completely different styles, slang, social and cultural movements within the country.
In the case of Brazil, this aspect is so strong that there are even completely different cultures within the same city, in big metropolises like São Paulo or Rio de Janeiro.
It is really hard to keep up with the constant changes in the pop culture and in the internet world, so contacting an agency whose job is to always be updated about what the influencers are doing, how is the stability in the country, and more important information for your company, is the best strategy.