What Is Socially Conscious Business?
Socially conscious businesses are loosely under the description of “social enterprise”. Such businesses are driven by two missions: To earn a profit for shareholders, and to benefit their communities.
Loosely speaking, “social enterprise” does not describe a specific organizational structure. Social enterprise can be “For-Profit” or “Non-Profit” legal status. An organization also does not require any certifications or endorsements to be considered a social enterprise by this definition.
The ways in which social enterprise may benefit the community– and indeed, the very definition of who “the community” is– depends upon your organization. You may not even be aware of all the additional ways in which your business is helping the community; you could be a social enterprise already and not even know it!
How Can A Marketing Professional Help Me?
Marketing your business as socially conscious will make a major positive impact: Studies have shown that small social enterprises often grow very large and profitable. With tasteful marketing, you can connect to a large and growing consumer base that shops based on values.
Increase Workplace Wellbeing
Socially conscious business businesses often give employees and entrepreneurs a profound sense of purpose and motivation. Today’s professionals are motivated by more than a simple paycheck, and marketing around socially conscious practices seeds a corporate culture of positive wellbeing. You will find a happier, and more productive workplace when employees see their work as contributing to a greater good.
Positive Public Opinion
Letting the public know that your company is socially conscious is neither a boast nor a brag; it is just good business. Marketing need not be expensive or boastful, either: tasteful marketing breeds trust with people who are looking to shop based on values.
How to Become a Social Enterprise
Soul Search for Your Social Cause
Start by asking yourself these questions:
- Is my business already socially conscious? (Eg., eco-friendly, vegan, recycled packaging, no artificial ingredients, fair trade, training programs for under-represented groups, nonprofit structure, charitable giving, quarterly volunteering program, etc.?)
- If yes: You are a social enterprise!
- If no, is there a cause you and/or other shareholders are passionate about that you could integrate into your business model?
- If yes: Start integrating, and you will be a social enterprise in no time!
Demonstrate the evidence
Some questions to get you started:
- Which new audiences will be interested/more interested in your business because of its socially conscious mission?
- How large are those audiences?
- What are those audiences’ purchasing powers?
- What help will your organization be providing to the community?
- Will helping the community prosper also enable community members to be better customers for my business?
Get Professional Help from a Social Enterprise Expert
Stuck on how to integrate your social cause into your business?
Concerned that perhaps it won’t be a profitable move or that your employees won’t like it?
Or maybe you need help with your verticals– finding suppliers or marketing to a socially conscious customer base.
Get professional help and advice from social enterprise experts! Contact Among the Stars Consulting today online or call us at (503) 893-9231, and get a free 1-hour consult.