Corporate social responsibility (CSR) has lost its credibility, modern day consumers are not fooled by brands that appear to be doing good, which is why social purpose as an evolution of CSR is the way forward. Consumers’ today have lots of choice, so it takes something special to get their attention. More than simply buying products, they want to be part of movements and surrounded themselves with like-minded people who share their view of the world.
“Doing good and making money” seems to be the more credible strategy for brands. For social purpose to be credible, brands need to think about how their values and skill sets can contribute to society.
Bisto one of the UK’s oldest brands has been bringing people together around the dinner table for over 100 years, but its been struggling to be relevant to the changing world and modern the day consumers. The gravy brand tapped into the issue of loneliness (32% of people eat alone everyday, 49% of people rank roast dinner as their favourite meal) among the elderly and launched its ‘Spare Chair Sunday’ campaign which encouraged families cooking a Sunday roast to link up with the charity Contact the Elderly and invite a lonely, elderly person round to share their Sunday dinner.
By genuinely putting something back into society Bisto, last year raised their market share of the ambient gravy market to its highest point in over five years.
Social purpose gives consumers a reason to believe in your brand, and belief is enormously powerful in creating trust and loyalty. Social purpose differs from standard CSR because it is designed to do good for customers; the business and wider society, with the majority of social activity concentrated on helping people make better choices, it’s a powerful tool. Doing good should be part of how we all do business.