Good looks are pricey these days, aren’t they?

Written by: Matija Petrović
Edited by: Christine Saifi 

                                  

Corporate Social Responsibility (CSR) is a rapidly evolving PR mechanism, which is already a must for all larger companies, and can be a big competitive advantage for any organization. But even a large company can be distinguished among competition through a strategically well-designed and properly executed CSR plan.

The problem is that many people and corporations nowadays think that CSR is all about who gives or spends more money, and they often tend to waste it, as a consequence of that perspective. Of course, we must be honest and admit that corporate donations usually have a secondary objective, which is beneficial, whether if it's motivated by tax deduction or simply by a need to get into consumers' good graces. However, as long as we do keep it as a veiled secondary objective, people won't mind.   

Firstly, we must focus on our goals, and by "our", we mean both the corporation's and the charity's. As soon as we determine that our causes are compatible and that the potential for mutual benefit exists, we can proceed. As Kimberly McCall stated on her website (www.MarketingAngel.com )- strategic philanthropy should "align itself with a cause that both reflects the ideals of the company and meets the needs of the charity". Thus, engaging in causes or activities that somehow, even slightly, contradict our company's work or principles, might be considered unethical.

Secondly, it's important to keep in mind that consistency is a key to success when we talk about CSR. Our donations must not be an occasional or a one-time thing. A recent survey from Aflac (the whole survey in the link) shows us how people stand on this matter:

·         81% of consumers are more likely to purchase from corporations who are active in philanthropic efforts year round as opposed to only in times of need.

·         86% of consumers are more inclined to purchase products and services from an ethical company.

·         75% of the consumers said they would be happier to work for a company with a strong CSR program.

·         69% of consumers are likely to purchase stock in a company well-known for its ethical standards.

Of course, many companies have insufficient funds; therefore they are limited and unable to support multiple causes constantly. However, we can always pick one or two that suit our company best or even use some alternative methods as cause-related marketing, which has proven to be very successful and is considered to be one of the fastest – growing segments in advertising and public relations. Cause-related marketing is different from corporate philanthropy as it does not necessarily involve a financial donation.

A good example of a cause-related campaign is the one that Starbucks started, named "Suspended coffee", offering their customers an opportunity to pay a little extra and support a fund for those who can't afford coffee. The campaign evolved into something much greater after a series of events, developing a so called "Pay it forward" movement (read more here: #AJO ).  Another example might be a campaign  "#HanesForGood" launched by Hanes, an American clothing company (mainly producing underwear and socks), who cooperated with The Salvation Army and Mark Horvath, and managed to donate millions of socks to homeless people throughout the years, with big help of their consumers.

In conclusion, undoubtedly - money is important, but no matter how much money we have, we must use it wisely, because in a delicate matter like this, the line between success and failure is very thin.