11 Sep Never Underestimate The Power Of A Good CSR Model
How important is a company’s corporate social responsibility (CSR) model?
While one might be inclined to think that CSR is secondary when compared to other business functions like marketing, it turns out that corporate social responsibility is especially vital. The average consumer looks at a company’s CSR model as a reflection of the company’s beliefs.
According to the 2015 Cone Communications/Ebiquity Global CSR Study, 90% of the consumers sourced for the study noted that they were willing to completely boycott a company based on their CSR beliefs or model (especially if they didn’t have one). 81% of consumers are open to changing their lifestyles in order to better protect valuable natural resources, and 80% will take a chance and purchase a product from a new company if it has a CSR model that they believe in.
So, what does this all mean?
Basically, the average consumer likes to support companies who donate. We live in an era where social responsibility and environmental awareness are important issues for most people. Companies who donate to relief organization (like earthquake relief, flood recovery or hurricane relief) or to charities and nonprofits generate positive PR with their actions—and consumers take note quickly.
Determining how to give back can be challenging for a company. However, Good360 excels in assisting companies with their corporate donations to nonprofits. Good360 functions by tracking down nonprofits who are in need of critical items and supplies and connecting with them with companies who can provide assistance. Typically, the companies who donate give away overstocked or returned items—instead of liquidating these items, these companies are helping to conserve resources, keep liquidation and storage expenses to a minimum and they may be eligible for tax deductions for product donation, as well.
Corporate donations to nonprofits are not only important—they also make a lot of financial sense. Companies who donate are rewarded for their efforts. These companies boost their public image, attract new customers and improve employee loyalty by highlighting that social responsibility is a true priority.
Richard Barney, Good360’s EVP of Business Development, is responsible for working closely with corporate partners to create programs that help them do good, better. Richard brings years of business-to-business sales and leadership experience to the nonprofit world and is tasked with ensuring that corporate partners realize a strong ROI from their partnership with Good360.