3 Simple Points Make its Business Case Obvious
The ROI of Corporate Social Responsibility marries the bottom-line-oriented business side of me with my softer side and need to give. Above all, I find purpose in my professional life by being able to affect positive change when it comes to the bottom line.
That said, I was raised to give back, and give back generously. For example, if you have money, give money. If you don’t, then give time. And in the best of times, give time, talent and treasure.
This is why I find myself reveling in the fact that there now exists a slew of satisfying statistics behind the need for Corporate Social Responsibility (CSR). We know that CSR is great for the community, but YourCause makes the case obvious for the business side as well.
We know that CSR is great for the community, but YourCause makes the case obvious for the business side as well.
‘Corporate Social Responsibility is Good Business’
“Corporate Social Responsibility is good business.” So says YourCause in issue 7 of its Industry Review. In fact, 80% of Fortune 500 companies now have CSR programs (up 60% from 2011).
YourCause explains the good business of CSR in three simple bullets:
Customers demand it. People are influenced to select your company because of your social involvement. They’ll even pay more for your widget.
Employees expect it. 64% of employees don’t want to work for a company that doesn’t have a social responsibility program. And the ones who work for the socially responsible companies are more engaged and productive and enjoy a longer tenure.
It positively influences the bottom line. A good reputation positively impacts revenue and pre-tax profits.
YourCause, which outfits nonprofit organizations with SaaS solutions, shares a lot more powerful information in its Industry Review that should lead you to take pause and reflect on your CSR strategies. Or, if you haven’t already, start that conversation.
The Actual ROI
YourCause says the actual return on investment for CSR programs is hearty. With stats like these, what are you waiting for?
CSR programs account for a:
20% increase in sales revenue
10% increase in customer satisfaction
60% increase in customer purchasing motivation
Signing Off…
As a seasoned marketing professional, I am fortunate to have been in positions to positively impact so many nonprofits and people in need. Whether through organizing water drives during the hot summer months, or toy drives for children who otherwise would have woken up empty-handed on Christmas morning, I have spearheaded many Corporate Social Responsibility campaigns well before I knew it was good business.
As it turns out, mom was right in instilling the drive to give back, and the compassion to care so deeply.
You’ll learn a lot about giving…and receiving.
As it turns out, mom was right in instilling the drive to give back, and the compassion to care so deeply.
About Jill Collins
Jill Collins at j.comm marketing is a marketing and communications professional who specializes in breathing new life into brands. She is a proven and trusted partner when it comes to understanding an organization and its culture. Her talent lies in marrying a client’s wants and needs with logistics. Give Jill a shot. She won’t let you down.