According to research from PR firm Edelman, 70% of consumers say they are willing to pay more for a business that supports a worthwhile social cause. This is considered a point for businesses to target when they want to hit the buying psychology of consumers, and CSR is the term used by businesses to refer to this activity. So what is CSR and how does it effectively support business operations today, let’s find out with MarketingAI how to achieve this.

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What is CSR?

CSR (Corporate Social Responsibilities) is also known as corporate social responsibility. This is considered a somewhat unfamiliar concept to businesses in Vietnam, but in the world this is considered a fairly common term and is used in many different companies. CSR has been included in the business as an important criterion to evaluate the impact of that business.

CSR’s ISO Standards

In 2010, the international organization for standardization, or ISO, released a set of voluntary standards to help businesses fulfill their social responsibility. However, there is a slight difference from the old ISO standards, the ISO 26000 guidelines instead of requirements because the nature of CSR is qualitative rather than quantitative, so it is difficult to certify. ISO 26000 helps clarify what social responsibility is and helps businesses and organizations translate CSR principles into effective actions. The ISO 26000 standard is aimed at types of organizations, activities and locations. Because the implementation of many stakeholders around the world has helped ISO 26000 represent an international consensus

6 ways to develop and communicate CSR effectively

Research what other brands have done

While you don’t want to be an imitator, there’s a lot to be gleaned from studying what other successful brands are doing in their CSR strategies. Here are a few takeaways from what other brands have done with relative success:

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Duracell has really made a significant push to become a socially responsible brand that understands customer issues. As you can see in the brand’s campaigns, they focus on building trust by giving back to charity at tragic events – such as the recent hurricane that devastated Puerto Rico.Ben. & Jerry’s is another good example. They have really launched a platform that focuses on philanthropy and social change through grassroots activism in the local community. While many companies focus on the local community, other brands do. across borders and continents. Warby Parker’s Buy One, Get One Free program is an example of a social cause that connects different groups of people from around the world.

Environmental friendliness is a common sustainable development goal of mankind. If your business can do this, then it has made a difference with the competition, receiving sympathy from customers. That is also the reason why restaurants and hotels now focus on green development, using environmentally friendly technical equipment systems.

Building a sustainable development report (CSR Report)

This annual disclosure should be given almost the same weight as the financial statements of the business. It is easy to see that multinational corporations always look to CSR as part of their business success.

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CSR Reports of corporations are often sought after, widely influenced and further promoted business thinking that contributes to the community. This is one of the factors that help businesses to better maintain the affection and hence the loyalty of customers to the business.

Transmitting professional knowledge to society

As the foundation of product development, expert customer service is the biggest asset of a business. Organizations can take advantage of these assets to turn them into useful knowledge and share it widely. For example, a nutrition company can teach users how to recognize the information on the label so that customers can choose the right product for them.

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Benefits of CSR for businesses

CSR helps to regulate the behavior of business entities.CSR helps improve the quality, brand value and reputation of the business.CSR helps increase profits for businesses.CSR helps businesses attract more workers better. .CSR helps to enhance the national image.

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CSR is really a new direction of many businesses today in the market. Instead of chasing profits, many businesses are aiming for more human values, namely a long-term goal to develop their reputation with society. Therefore, knowing what CSR is is a great advantage for businesses to gain resonance and advantage over other competitors.