In 2018, it is paramount for businesses to take a stand and support a cause. However, there are a few common questions that are asked by companies beginning this quest. Some of the top queries include: (1) Why is it essential for my business to support a cause? (2) What are the advantages of being a business with a cause? And lastly, (3) What are the first steps to becoming a purpose-driven business?
Why is it essential for my business to support a cause?
Many businesses and organizations have come to realize that giving is something they should do – not only for their image and reputation, but also for business growth. The larger the business, the greater the impact. However, even the smallest companies can find a way to contribute to a cause. Participating in a cause has many benefits such as increased brand recognition, customer loyalty, and doing good for the community.
Advantages of Being a Business with a Cause
Supporting a cause is a great way to differentiate your brand through Corporate Social Responsibility. Consumers see and hear what you do every day and supporting a cause that they care about is a great way to win their loyalty. In fact, studies have found that 94% of customers will choose a brand connected to a social cause, so be open about it – let customers know that you care and are fully to your cause (CONE, 2017). When consumers see that you create a positive impact on society, they will, in turn, engage with your business and share your products and services with others.
Steps to Becoming a Purpose-Driven Business
Being a purposefully driven business starts with identifying your values and mission. Is your company concerned with reducing environmental impact, becoming more sustainable, eliminating child labor overseas? Once you’ve determined the larger mission at hand, your core values will come into play. These values can be as simple as committing to hire like-minded people and assigning them to complex projects that align with the company’s mission.
Ensuring your business continues to uphold its core values is the first step to becoming an establishment with a cause. However, without clearly identifying your cause and what you stand for, it is impossible to demonstrate this to outsiders. Your purpose should be created internally first. This is the underlying determinant for innovation within the business. Think of your cause as the “framework for thinking throughout the organization. It provides the boundaries and guardrails you need to stay on the path to your preferred future, (Smith, 2016).
A Great Example of a Socially Responsible Business
One company that successfully demonstrates a purposefully-driven business is Interface. Founder Ray Anderson has committed to be a zero-waste company, and while this lead to the significant reduction in waste and decreased costs, it also leads to the innovation of “The Ray Highway” – a passion project that harnesses the energy produced on highways into sustainable innovations.
Here at Adopt A Highway Maintenance Corporation® our mission is clear and concise… we strive to be a sustainable business that helps others do the same. Interested in supporting your local community and the environment, call 1-800-200-0003 TODAY and find out how we can help you through the Adopt A Highway® and Sponsor A Highway® Programs.
Khalili, O. (2016). Why Your Company Should Have A Social Mission. Cause Capitalisim. Retrieved from http://causecapitalism.com/why-your-company-should-have-a-social-mission/
Long, J. (2017, December 30). Why Businesses Committed To A Social Cause Succeed. Huffington Post. Retrieved from https://www.huffingtonpost.com/jonathan-long/why-businesses-committed-_1_b_13885476.html
N.A. (2015). 2015 Cone Communications/Ebiquity Global CSR Study. CONE. Retrieved from http://www.conecomm.com/research-blog/2015-cone-communications-ebiquity-global-csr-study
Smith, G. (2016, March 29). 7 Reasons Your Company Needs a Clear, Written Mission Statement. Glenn Smith Executive Coaching. Retrieved from https://www.glennsmithcoaching.com/7-reasons-your-company-needs-clear-written-mission-statement/