All the businesses establish themselves, sustain and growth within the ambit of a society. They use social resources and capital to flourish, so it becomes an ethical responsibility of the firms to it back to the society. Working for the society also helps businesses to build a strong reputation and enhance their goodwill. According to studies, 85 percent of consumers will switch from one brand to another associated with a cause the favour, with 91 percent of millennial willing to switch. Two-thirds of millennial and 53 percent of the general population use social media to engage around corporate social responsibility.
It provides a good platform for the firm to promote its business at the same time contributing towards the betterment of the society. Fulfilling social responsibility makes the business a house hold name, thereby helping in grabbing attention of potential customers and increasing the loyalty of the existing ones. Here are five budget friendly ways firms can give way to the society and enhance their goodwill -
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Team-Up with Local NGOs & Self-Help Groups
One of the easiest ways to contribute towards the betterment of the society is to partner with local NGOs in their initiative. Getting associated with a known NGOs help the firm to garner trust and confidence of the society. All the business has to do is participate in their events and drives by providing financial and human resources, to help them. Enterprises can also sponsor or provide business to local self-help groups. These are deeply connected to the society, offering a chance for the business to directly engage with its potential customers.
Organise Charity Drives
Another way to help the community is by organising charity drives for various causes. It can be for women welfare, hunger and poverty alleviation, girl education, collection clothes in winters among others. The business is able to promote itself while promoting and advertising for the charity campaigns. It helps businesses to reach out to the customers and come in their direct contact. It also helps firms to create a positive image in the minds of existing and potential customers.
Organise Cleanathons and Greenathons
The society is increasing becoming aware of the consequences to environmental damage and people encourage and participates in events aimed at reducing the pollution or degradation and increase greenery. Organising cleanathons or greenathons conveys that the business is an environmentally conscious establishment, thereby creating a positive image in the minds of society. It’s a budget friendly and eco-friendly way of giving back to the society.
A firm may even organise worships and impart knowledge of some skills to the community. Ever business has some expertise and all the employees have a fair knowledge about the same, providing the same to the under-privileged section of the society, thereby helping them to get some employment or start their own business is not a bad idea. This is especially applicable to skill-based or service based firms, such as clothing & designing industries, food & restaurant industries, handicraft industries among others.
Promote Local Talent
Many people are still depended on age-old handicrafts and handlooms to earn a livelihood. Another way for the businesses to give back to the society is by promoting such artisans and workers and help them channelize their talents in a bigger platform. All the businesses have a presence of social media; one way to encourage local talents is to put their work on digital platforms. Businesses can also provide exposure to the local artisans to reach at various fairs and haats organised for handicrafts.
Goodwill aids to the long term survival plans of the businesses. Developing connect with the society helps the business in more than one way. For a business to stay rooted in a society for long, it is important for to pay back to the community and contribute towards their development.