A CPG brand that is committed to more than just profit is likely to attract more customers and better talent. Here are some of the reasons why a CPG corporate responsibility program should be one of your priorities.
Brand Reputation
Having a CPG corporate responsibility guide can improve your brand's reputation in the public sphere, making people more likely to look favorably on the brand and partner with it in supporting the cause or charity that has been selected.
Employee Engagement
Employees working for a brand that supports a cause show higher levels of engagement and find more purpose in their jobs. Not only are employees working to create CPG products that customers like and want to buy, but they also contribute to the support of the charity or cause the brand supports. When employees are more engaged, they are more productive and remain with the brand longer, both of which improve the brand's bottom line.
Customer Loyalty
Having a CPG corporate responsibility strategy as part of an overall CPG marketing strategy will create more loyal customers and can attract new customers to the brand due to the social responsibility it shows. Knowing that some part of their purchases will go towards their communities in some way encourages customers to purchase more products and can support a higher pricing structure because of the charitable component.
Recruiting Help
Today's job candidates are more likely to look at corporate responsibility when deciding if they want to work for a particular company. When a CPG brand has a robust corporate social responsibility strategy and has made its support for a particular cause or charity public, it is bound to attract applicants that fit well into the existing culture.
Building Culture
Brands thrive when they cultivate a particular culture that speaks to their values and how they want to operate in their market niche. Corporate responsibility can help contribute to a culture and atmosphere of caring about others and working to make the community and the world better places. Having a CSR strategy shows that the brand values meeting the needs of others and wants to help those who need it. These can be very attractive aspects for both consumers and employees alike.
Get the Word Out
Whatever your brand decides to do to help the community through a CSR plan, it's important to be public and transparent about your efforts in order to build a narrative that supports your goal of changing your community and the world in a positive way. If your CSR plan is coming from a genuine desire to help, it will create a win-win situation for your brand in which both the cause and the brand benefit.
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Topics cpg