Benefits for Socially Responsible Brands

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The concept of corporate social responsibility has become a popular tool for ensuring sustainable development of companies around the world. A caring attitude towards society is rewarded many times over and multiplies the company's profits in the long term. For example, organizations that competently approach the development of their social responsibility strategy:

– optimize the efficiency of production capacities;
– involve scientists and experts in the development of products, thereby increasing their uniqueness and quality;
– improve the company’s reputation and image, thereby popularizing the brand ;

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– form corporate identity;
– save resources on recruiting and retaining the required specialists;
– develop the distribution structure and improve the efficiency of partners;

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– expand partnerships with local communities and civil society organizations;
– reduces the cost of attracting and increases the life cycle of new consumers due to a higher level of loyalty when choosing.

Social orientation gives businesses a significant competitive advantage . As statistics show, consumers are increasingly aware of the importance of the social component and are trying to buy products / use services from companies that comply with these standards.

A Cone Communications/Ebiquity study found that 91% of respondents expect businesses to take action on social and environmental issues, while 84% prefer to buy products and do business with responsible companies.

Not only consumers, but also investors select ethical companies for their portfolios that have the right image in the eyes of their audience. A socially responsible company creates the impression of a more reliable and sustainable business.