5 CSR Tips So You Can Start Giving Back This New Year
As the Chinese New Year rolls around again, the grown ups start filling up red envelopes with token amounts of cash as gifts to younger ones in the family. Much like any other holiday season (ahem, Christmas), the Lunar New Year is a season of gifting and showing appreciation. Besides the lovely “ang paos” (red packets) that we receive, it is also about showing you care and wishing others well. We’ve talked about CSR in the past and explained how it helps with brand management. This new year, we’ll talk about how it ties in with your overall 2017 marketing strategy.
As a business, giving back is always one of those things that are pretty difficult to do. Too much of it and you get called out for putting up a show. Too little and you get criticized for not doing enough. In the spirit of Chinese New Year, here are a few tips to integrate your CSR into the overall marketing plan.
1. Align your CSR with company goals
A good CSR strategy should tie in with the overall business goals and branding. For example, at HubSpot, we place heavy focus on customer education and spreading the good word of Inbound Marketing. While it might bring in a decent amount of revenue if we put a price on our certification courses or webinar sessions, providing these resources for free aligns with our goal of wanting to bring Inbound knowledge to a wider audience. When the alignment is made, not only are you able to bring greater contribution (since you’re leveraging on existing competencies), you’re also boosting brand identity.
Besides that, it is also important to see how you can plan your CSR initiatives such that it brings positive impact to the bottomline. Simply said, how can CSR help bring in additional profit for the business? The easiest way to frame this is that the brand will be positively associated with being compassionate and socially constructive in the minds of consumers. Research has shown that 67% of consumers are more likely to purchase products and services from a company that supports a cause, making your company a more ideal candidate. Plus, 80% of customers would tell their family and friends about a company’s CSR efforts, thus making them advocates for your business.
2. Which part of the customer journey does your CSR fit in?
There’s no reason you can’t do good and pay attention to your funnel goals at the same time. Just put aside some time to think about how your CSR initiative can be applicable to a customer at various stages of their journey with your business.
Source:: HubSpot Blog