The rise of the internet and the information age has resulted in consumers becoming more informed than ever before. This new breed of ‘Super-Consumers’ know a lot about the companies they buy from! They know what products are made of, where they come from, and how companies treat the environment and their employees.
Words like ‘eco-friendly’ and ‘green’ have become part of the common vernacular. The more recent buzzword in the consumer conversation is ‘socially responsible’ or ‘social-driven’ companies.
In recent years consumers have begun to place more and more importance on how much ‘good’ companies are doing. It has become so important that many consumers are willing to pay more for products from companies that practice socially-responsible operations. It’s even common these days for consumers to boycott brands for social or political views.
In today’s business climate, it’s important to know what makes a company socially responsible. Here are 4 questions consumer use to size companies up:
1. Do they promote human rights or diversity?
2. Are they environmentally friendly?
3. Do they provide services that will help society as a whole?
4. Do they have a strong history of charitable contributions and involvement?