Values and corporate social responsibility are purchasing factors for nearly 90% of U.S. consumers, and many seek out brands that promote values and beliefs that align with their own. Further, 66% of consumers will pay more for products and services socially-responsible brands, and 91% will switch to a brand associated with a good cause, given similar price and quality.
There’s an important caveat, though: Retailers must demonstrate those values in action. Simply conveying a certain belief in marketing and sales efforts is called “greenwashing” or “purpose washing,” and won’t turn consumers into customers. Today, they expect action. In fact, 65% of consumers will research a company’s stand on an issue to see if the brand actually takes action to create positive change.
With a baseline of action established--whether that’s philanthropic giving to a cause, operational commitments, or signature cause programs--merchants can and should promote their efforts. After all, when the majority of consumers will pay more for a brand with authentic social responsibility commitments, marketing can be an important way to build relationships with them. Here are our top suggestions for doing just that.
1. Back up your beliefs
Remember, customers today rarely take marketing at face value. If you claim that 50% of products are made from recycled materials, expect people to visit your website for validation. Today, many retailers have social responsibility sections on their websites, with information ranging from corporate values and giving metrics to full corporate social responsibility reports. The level of information will depend on the depth of your commitments and size of the business, but should include at least topline information on the issues or causes you support, the actions your business is taking, and any impact to date.
2. Share the numbers
You wouldn’t secure an investment without demonstrating either impact or forecasts for growth potential. The same applies to winning over customers with social responsibility efforts. This starts with goal-setting: For example, a beauty brand might set a goal to raise $10,000 for a women’s empowerment nonprofit, or reach a 100% “clean” product line by 2025. Stating these goals helps in two ways: it demonstrates commitment to customers, and provides guardrails for data collection and measurement. Once initiatives are underway, plan to regularly report progress. And once a goal is reached, celebrate!
3. Tell human stories
The best way to show the impact of social responsibility efforts is to highlight the beneficiaries in marketing. That same beauty brand might write a blog about one of the women its investments supported, or include photos of its employees volunteering in social media posts. If there’s a clear product integration, all the better--but ensure marketing content doesn’t come across as self-serving. This approach involves more behind-the-scenes work, including regular “story capture,” and it can help to work with nonprofit partners or employees to gather visuals and statements from the people your organization is helping.
4. Embed social responsibility in marketing
While brands can find success with the occasional socially-responsible post or ad, it’s important to gradually integrate marketing and social responsibility efforts. Increasingly, merchants are putting responsibility at the heart of their business, such that it impacts supply chain, culture, product development, hiring, and of course, marketing and sales. With this approach, merchants can truly put their values to work, and thus build stronger connections with values-aligned consumers. Social responsibility becomes less of a “selling point,” and more of a core competency, brought to life through everything your business says, does, and sells.
Interested in learning more about how Afterpay can support socially-responsible, customer-centric brands? Reach out to our team today by clicking here.
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