Updated: May 11, 2020
By Nadja-Timea Scherrer, Impact Strategist at plus305
Most B2C businesses have jumped on the CSR/CSI bandwagon or are at least considering it. But what about B2B businesses?
It makes sense that consumer marketing focuses more and more on how companies are doing good to meet their consumers' demand for socially and environmentally conscious brands. However, Corporate Citizenship goes far beyond accommodating consumers.
In this article about B2B and CSR, they are citing an interesting example of a B2B business case: "...wireless solutions provider Baka Communications recently announced that it has partnered with urban farmers Fresh City. This partnership resulted in Baka donating land on its urban property to Fresh City, which would build and maintain a 4,000-square-foot vegetable greenhouse on what was previously grass. Baka CEO John Marion got the idea for urban farming when he started thinking about ways to incorporate fresh, locally-grown vegetables into his company’s combination mobility store and café."
CEO John Marion goes on to explain that companies want to work with companies which have a good reputation. At the end of the day, behind businesses there are also people and they care about a company's values. Especially if they have a choice, it will therefore always be a competitive advantage. Another reason is employee satisfaction. People are looking for purpose at work and the better they feel at their company, the better your revenues.
"An engaged workforce means higher productivity, higher profit, and higher revenue growth.” Ryan Scott, CEO of Causecast
The bottom line is: your consumers are only one of your stakeholders.
CSR and Corporate Social Innovation (CSI) are about including ALL of your stakeholders. Last but not least, investors and your company's valuation will also depend greatly on your reputation and your authentic implementation of your CSR values and goals. Read here How Intangible Assets are affecting Company Value in the Stock Market
What has been your experience? Talk to us about your company's CSR challenges and leave a comment below.