Why You Need a Social Impact Marketing Expert
Businesses, regardless of size, can make a difference in the community. Leadership proposers through building positive relationships with community members. Recently, social impact marketing has been at the core of a growing strategy to improve the world around us.
Businesses are not only utilizing social impact marketing to position themselves as leaders, but also to encourage positive change for generations to come. Authentic social impact marketing is one of the top strategies to reach new target markets and grow your business through innovative change, making it important to understand the basics, importance, and implementation methods.
What is Social Impact Marketing?
Social impact marketing intertwines a company’s core mission by shifting the thoughts and actions of community members and promoting social change. Instead of solely focusing on the product or service, this form of marketing highlights the company’s role in positively changing the community.
Companies are implementing social impact marketing into campaigns to boost philanthropy efforts while subtly advertising a product or service. The focus of these campaigns can vary from a granular goal or initiative to the overall well-being of society.
With new environmental and social concerns at the top of consumers’ priorities, companies are forced to shift to connect with these groups on every level. In addition, companies are becoming more adept to ridicule and cancel culture for non-conformance with social movements.
Why is Social Impact Marketing Important?
Social impact marketing is important to stay competitive with changing consumer demands and preferences. One recent example of social impact marketing is found in the Black Lives Matter movement. Gen Z and millennial consumers required brands to make clear statements on their stance on the movement. Companies who denounced the movement, or even took a neutral stance, faced a diminishing customer base.
In fact, a Nielson study shows that 66% of consumers are willing to spend more on a product if the brand is sustainable. Similarly, millennials were 73% more willing to increase their spending budget for a sustainable brand. These statistics don’t suggest that companies rework their marketing campaigns, rather deep consideration to gain market share.
The implementation of social impact marketing isn’t in vain. Companies can generate tangible results for their communities. Maybe your company is able to reduce carbon emissions by a certain percentage or lower the number of children who go hungry. Positive impacts on the community can leave lasting impacts.
How to Work Social Impact Marketing into Your Business
Working social impact marketing into your business requires an understanding of the core mission statement and goals present. What is truly important to your business? Is it reducing homelessness in your community or lowering toxic waste? Uncovering the initiatives your business wants to focus on will help you find the right social impact marketing avenues.
Next, commit to invoking social or environmental change. In order to be effective, everyone in your business needs to believe in the change. Ensure that your language and action work together. It’s one thing to talk about social change and another to implement the strategies.
Social impact marketing will only continue to gain traction as consumer preferences shift to include social and environmental concerns. Remaining profitable and competitive relies on understanding the shifts that are unfolding to implement authentic social impact marketing into your business.
Why You Need a Social Impact Marketing Expert
Social impact marketing should accompany real social change. If one of your reasons is “because it’s the right thing to do,” you’re probably on the right track. If you’re key objective is to sell more products or services, that’s fine, it’s just not social impact marketing.
Community engagement is specific and unique to every social impact marketing strategy. There is no formula for success that works for everyone. Consult someone - an agency like Three(i) or a freelance strategist - who does this work full-time. It’s easy to get caught up in the details, but an expert will help you pinpoint what’s important, what matters and what will create the kind of engagement that makes a difference. Bespoke execution is a topic for another day.
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