08 Nov Get More ROI for Your CSR Efforts
A recent report shows that, corporate responsibility has the potential to increase market value up to 4-6 percent, increase revenue by up to 20 percent and reduce the company’s staff turnover rate by up to 50 percent1.
Most corporations are aware of the positive impacts of CSR and have already implemented these practices into their business. However, there is still a lot that can be done to incorporate key audiences, including employees, customers and other stakeholders, and build brand reputation. It’s imperative for companies to not only have CSR programs, but communicate the values and achievements of these efforts.
Whether tackling one or all of the tactics listed below, CSR practices will become better packaged to make impacts more measurable. With better measurement, long-term goal setting is achievable to expand company efforts even further.
3 Ways to Elevate CSR Practices
1. Develop an annual CSR report
This may seem somewhat obvious, but developing a CSR report enables companies to package up tactics to easily share with employees, the c-suite, board members and other stakeholders. CSR reports can garner attention from potential partners, inform long-term communications planning and maximize awareness of all CSR efforts.
Not only can a CSR report be shared with key stakeholders, but it can be used at industry conferences throughout the year – whether for presentations or networking purposes – or to create a timing hook for media coverage. Also, developing a video to go along with the report will make the information more shareable and could then be leveraged to reach additional audiences.
2. Encourage employees to share their experience
Employees can be the best brand advocates at a company’s disposal. When employees are passionate about a cause their employer supports, it can further raise awareness for the issue and create a widespread impact.
A few ways to help them share their experience could be to create a video testimonial or behind-the-scenes look to be used on social channels, coordinate local or national media interviews, or encourage them to speak with fellow employees about their passion for the programs.
3. Create a campaign
Developing a campaign allows CSR efforts to be elevated into a larger story that builds awareness and instills the company mission with employees, customers and potential customers.
Keep in mind that the campaign should be about more than the donation. With the right call to action, spokesperson and timing hook, the campaign can reach the right audiences and make a real impact. Don’t forget to leverage paid opportunities, your social media channels as well as those of your partner.
Some of the most impactful CSR campaigns that we’ve worked on leverage these assets along with complementary partner assets to reach a larger audience that previously would not have been engaged by one company alone.
Overall, depending on specific success metrics, there are a number of ways to leverage CSR practices to reach goals. Just remember not to let CSR efforts go unseen. Contact us to see how we can help.
Relevant Case Studies
1Rochlin, S, Bliss, R., Jordan. S, & Yaffe Kiser, C. Project ROI, Defining the Competitive and Financial Advantages of Corporate Responsibility and Sustainability. IO Sustainability, 2015.