Everyone wants to be a “good guy.” Every business should strive to be a good guy brand. The reason is simple: companies that do good generally perform better.
Surveys show that consumers like to support brands that are good citizens. Examples include coffee and chocolate brands that support Fairtrade, and Toms Shoes, which give away a pair of shoes for every pair sold. The millennial generation in particular places a high value on the social responsibility of a brand.
Making a Difference in the World
Thanks to the continual promotion of socially responsible campaigns across Twitter and Facebook – from child labor issues to clean drinking water in third-world countries to various eco-friendly initiatives – consumers aren’t just looking at your products or services and comparing prices. They are analyzing your entire supply chain, including where your products are made, who your suppliers are, how your business processes impact the environment, and how well employees are treated. According to a Nielsen study, 56 percent of respondents are willing to pay more for a product if it is known for its commitment to social value.
To be truly effective, your brand’s social commitments must not be merely tacked on in an effort to generate good P.R. Your social good must be part of your brand’s purpose and meaning – it needs to align with the business good. Be sure to understand what your brand stands for and find a way for that to also serve the community at large.