In 2010, the business value of a corporation’s social purpose was validated to a degree that now makes the business case for corporate social responsibility irrefutable. Here are some highlights:
- Edelman’s 2010 Goodpurpose Studyreported that 86% of consumers globally believe that companies need to place at least equal weight on societys interests as they do on business interests.
- The 2010 Cone Cause Evolution Studyfound that 85% of consumers have a more positive image of a product or company when it supports a cause they care about.
- Here in Canada, an Abacus Data National Pollrevealed that a majority of Canadians (60%) would be willing to spend more for products and services from socially responsible companies.
Today, time spent on debating the merits of corporate social responsibility is time wasted. In 2011, business people need to take action. What will you need to do differently? At Impakt, here’s what we’re telling our clients:
1. Gain a deep and accurate understanding of the social priorities of your customers, employers, and communities.
2. Move from a quantitative transactional approach to community investment to a qualitative transformational commitment to improving social and business outcomes.
3. Stop purchasing socially responsible halos from non-profit organizations and start working with charitable groups as true partners.
4. Make social communications more compelling, more clear and more credible.
5. Make sure you can measure business and social results as needed to fine tune your programs, leverage your partners, and improve your communications.
These are all areas that I’ll be exploring in the months ahead. As always, I welcome your comments and feedback.
Let’s make 2011 a time for taking action and for making a difference!