Using responsible marketing techniques can be an excellent choice for your business. Below are some of the benefits and techniques to help you make the most of this practice. You may also want to consider what costs this type of marketing might incur for your business. Ultimately, the benefits and techniques you choose will depend on how much you are willing to spend. But, there is no harm in attempting to do your part for a good cause. These techniques may even save you money!
Benefits
The shift towards social responsibility is helping millions of people around the world. According to a 2015 Nielsen global survey, 41 percent of respondents said that environmental-friendly packaging helped influence their purchase decisions. Nearly half of these respondents said that they would be willing to spend more money on brands that promote sustainable practices. These studies have also demonstrated the effectiveness of responsible marketing in establishing a brand’s reputation. This article examines the benefits of responsible marketing in the context of business growth.
Techniques
Using socially responsible marketing strategies will cultivate organic and positive attention for your brand. This is especially important as audience perceptions of your brand are becoming more aware of its overall practices. Furthermore, advertisers are facing increasing pressure to maintain ethical practices. Listed below are some techniques for using responsible marketing to boost your brand’s reputation. Just keep in mind that responsible marketing should start from the home. There are several ways to engage with community groups and get the most out of it.
Examples
There are many different ways to engage in responsible marketing. Some companies have gone to great lengths to implement socially responsible marketing campaigns. For example, Coca-Cola has committed to selling only no or low-sugar drinks in secondary schools in Europe. Similarly, the American Beverage Association has removed full-calorie soft drinks from schools across the United States. In this book, you’ll find examples of responsible marketing efforts at work across different industries.
Costs
Whether you’re a small business owner or a global brand, you need to be aware of the costs and benefits of responsible marketing. These practices can improve your business’s reputation and attract new investors. Potential investors are increasingly concerned about a company’s social responsibility, and they are willing to pay more for a company that’s responsible about its activities. Also, the more socially responsible a company is, the more customers will buy from it.
Impact on business
To be successful, companies need to commit to responsible marketing practices. This commitment should be expressed in a vision for the organisation, and should permeate all areas of the business, including brands across the company’s portfolio. A company’s founder’s aura may be all that is required to inspire employees, but larger organisations must create a strong communications platform to communicate the vision internally and externally.
You can so easily reach a much better and wider audience when you are perceived as a socially responsible brand. But, this is not at all easy to achieve. It takes a lot of dedication and a properly created strategy that will focus on responsible marketing.