Socially responsible marketing (SRM) is a commitment to improving your brand while reducing any negative consequences. Socially responsible marketing can help you attract new customers and retain talent. Listed below are some ways to apply SRM to your business. If you’re not sure where to start, consider these examples. They demonstrate the benefits of socially responsible marketing. Read on to learn more. Here are some examples of SRM in action:
Socially responsible marketing is a commitment to improving your brand
Many consumers are attuned to brands that demonstrate responsible citizenship and responsible marketing. Socially responsible marketing gives your brand the power to differentiate itself from the competition. It also connects you with consumers, ensuring loyalty and brand advocacy for years to come. Here are the benefits of socially responsible marketing for your brand. Let’s start with the definition of socially responsible marketing. In simple terms, it means a commitment to improving society.
It attracts customers
Socially responsible marketing attracts customers because it aligns brands’ strategies with consumer priorities. According to a recent Nielsen global study, 41 percent of respondents said that eco-friendly packaging drove their purchases, and almost half said they would consider buying more from a brand that promotes environmental consciousness. In addition, responsible marketing can help build trust and loyalty among customers. Responsible brands attract customers by not using deceptive marketing tactics and practicing environmentally safe production.
It retains talent
Corporate social responsibility (CSR) and retention rates are related. According to a recent study, more than half of employees would take a pay cut for a company that practices corporate social responsibility. A further half of employees would sacrifice their pay to work for a company that values its employees. This evidence supports the idea that companies that prioritize corporate social responsibility will retain talent. But how can they do so? It may seem counter-intuitive, but it’s true.
It drives equity and inclusion
Inclusion is an important part of responsible marketing. Not only does it improve the chances that consumers will buy products, but it can also increase employee engagement. People who are visually impaired or with disabilities can easily understand videos and ads, and people of different religions won’t feel offended by celebrations of Easter. In fact, one study showed that 64% of respondents took action after seeing a diverse advertisement. These are just some of the benefits of inclusivity.