The demand for purpose-driven businesses has led many companies to carry out hasty, even harmful, marketing campaigns. Those new to the profit-with-purpose movement often treat it as a business strategy, rather than a full-scale model. Purpose is not a tagline, or a marketing campaign - it is the foundation of your entire business. Relating your company's purpose to the type of cause its supports is a critical step for successful Corporate Social Responsibility (CSR).
THE BIG DEAL...
Consumer mistrust is a battle most brands face by default. CSR programs lacking congruence or explanation face accusations of calculated giving by consumers and employees alike. Instead, having a well defined and communicated company purpose would alleviate consumer skepticism and open the door for substantial growth.
Today, companies recognize the need to meet the rising demands for social purpose. A recent study by Unilever shows a third of global consumers (33%) are now choosing to buy from brands they believe are doing social or environmental good. Furthermore, the 2017 Cone Communications CSR study shows 94% of Gen Z believe companies should help address social and environmental issues, versus 87% of Millennials, 86% of the general American population.