June 2023 Edition
Talking Points

It’s Time to Master Corporate Social Responsibility (CSR)

Corporate social responsibility (CSR) is a commitment by companies to consider the social and environmental impacts of their business decisions. Meeting stakeholder expectations and being socially responsible can require a delicate balance. So, here are five ways you can win at CSR.

Don’t fake it

Lip service is never enough. Consumers will see right through any disingenuous attempts. Your best bet is to look at your brand, your suppliers, and your local community, and figure out how your business can make a sincere impact.

Get people involved

The key to encouraging participation is to make it easy. Consider the best tactics. Text messaging often works for younger audiences. Older ones could require alternative methods. Be creative. Be inclusive. And be responsive.

Set aside some money

Figure out your budget early. Your CSR initiatives shouldn’t have a detrimental impact on your ROI. Find a number that works. And remember, you can always expand your social and environmental sustainability investment over time.

Reinvest your profits

CSR is about reducing your carbon footprint or helping your community in times of need. Find the right balance between profit and CSR and accept that reinvesting a portion of your profits benefits everyone.

Generate awareness

Tell people about what you’re doing, what you’ve achieved, and why it matters. CSR is a marketing opportunity. Promoting it stimulates both participation and loyalty from consumers and investors aligned with your cause.

Customers genuinely want to support the companies who show they care about the greater good. An active and sincere CSR program is a perfect way to demonstrate that your business is one of them.

Based on Based on 5 Ways to Win at Corporate Social Responsibility in 2022 by Krista Greenaway, for One Tribe.

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