Corporate Social Responsibility (CSR) not only allows businesses to help a worthy cause, but also opens doors for them to increase revenue. This is important for marketers because companies who focus on corporate social responsibility tend to attract customers who want their purchases to make a positive impact.
For example, Bombas integrates CSR into their business strategy. With every pair of socks purchased, Bombas donates a pair to a homeless shelter.
Other businesses may stress the importance of using recyclable packaging or donating a percentage of profits to a local nonprofit. Each company that takes part in CSR carefully selects what cause they support, and makes sure it aligns with their company’s core values.
Being open about your corporate social responsibility efforts might bring in customers who agree with your values. This allows you to increase your revenue, while also making a positive impact in your community.