We’re now well and truly into the Decade Of Purpose. We’ve got connection (2000s) and convenience (2010s) down, and now businesses and brands are coming to terms with their place as a stakeholder in building a better world. It’s all about CSR importance now.
If you haven’t considered Corporate Social Responsibility within your business strategy, you are probably in the minority.
We’ve taken the hard work out of digging out trends and stats that demonstrate the importance of CSR in your business. So, if you’re pitching a new initiative in your business, getting to grips with CSR as part of your business model, or considering why impact might be important for your brand or agency, these stats are for you!
CSR is good for business
Here’s how we know:
94% of Gen-Z now think companies should address pressing social and environmental issues
76% of consumers say they wouldn’t do business with a company that holds views or supports issues that are in conflict with their own
55% of consumers are willing to pay extra for products and services that contribute to positive change
More than 90% of shoppers worldwide are likely to switch to brands supporting a good cause
90% of the consumers surveyed are more likely to trust and be loyal to socially responsible businesses compared to companies that don’t show these traits
90% of the shoppers surveyed would boycott companies if they found the firms engaged in irresponsible business practices, with 55% of the respondents having already done so in the past year
91% of the global population wants to see businesses do more than just make a profit
88% of people want to know about a company’s CSR efforts, and 84% would “tell friends and family” about a company’s CSR efforts
85% of consumers have a more positive image of a product or company when it supports a cause they care about.
92% want to buy a product that supports a cause
72% of consumers believe companies should have a legal responsibility to people and the planet.
Want to keep your team engaged?
CSR is good for that too:
67% of respondents prefer to work for socially-inclined companies.
Engaging in socially valuable projects can reduce employee turnover by approx 50%.
According to Deloitte, 70 percent of millennials studied listed their company’s commitment to the community as an influence on their decision to work there.
Research by Cone Communications found that nearly two-thirds of young people won’t take a job at a company with poor CSR practices.
CSR spans the entire business model
Active & tangible CSR goes further than the above.
CSR is crucial for diversity in your business (Companies with inclusive agendas generate up to 30 percent higher revenue per employee and greater profitability than their competitors), environmental sustainability (72% of consumers would be interested in buying a product made entirely/partially from recycled materials) all of which boosts your business in ways you can’t imagine.
Join The Impact Marketing Club to build your CSR importance
Members of the Impact Marketing Club are always sharing new initiatives and ideas for how we can bring Impact and CSR into our businesses.
We’re also always contemplating the best way to communicate this impact.
Get started today.