The Benefits of Corporate Social Responsibility

Corporate social responsibility (CSR) has become a dominant factor in the way companies operate. The question facing the number crunchers at a company is whether or not CSR has a tangible benefit for a business or is it just a PR exercise. The answer is probably a combination of both.

The moment a corporation steps outside of its sales mode to support a charitable organization or promote community friendly policies they are, in effect, strengthening their brand. There might not be the kind of immediate payback in sales that would occur after a TV ad or coupon drive, but these kinds of measures go a long way towards fostering that positive image that is so essential for a successful business. There are other factors to consider when developing a Corporate Social Responsibility strategy as it applies to a return on investment.

        Improves efficiency

When a company goes “green” they are essentially adopting eco-friendly policies with regard to things like recycling and energy use. On the CSR front, that company can promote the use of those policies. What they’ll discover is that these environmental changes can have a direct impact on a company’s operating expenses. If they can lower energy costs then the bottom line is improved.

Strengthens brand awareness

Even a national company generating millions in sales can have a positive impact through their CSR campaigns on where it matters most: directly in the communities. This type of giving back can benefit a wide range of local organizations and clubs. It’s also an opportunity to cross promote that charity and a company’s products. For instance, a laundry detergent maker can sponsor a cleanup of a local beach or vacant lot. Along with providing supplies, the company could also hand out commemorative T-shirts and samples of their detergent. That would help a neighborhood and increase awareness of the product.

Boosts staff morale

If a company throws its corporate muscle into a good cause they have the ability to enlist their employees in that cause as well. This often translates into supplying volunteers for a particular event. During these events those same employees will benefit from bonding over the experience. This in turn can help with productivity. In other words, if an employee feels like they are working for a socially responsible company, they will go the extra mile to insure that company’s continued success. Recently it was reported that Microsoft employees have contributed over a billion dollars to the company’s charities. That’s certainly going to make those workers feel great!

Market Research Leads to Business Success

Every small business starts with an idea. Whether it’s an idea to sell a product or provide a service, that first notion sets the wheels in motion. The very next step should be some type of market research.

Suppose you had the idea to open a franchise ice cream shop business but wanted to find out how successful will it be in your neighborhood? A short drive through your prospective neighborhood will show you if there are any other businesses like the one you want to invest in. It can also give you an indication of the kind of foot traffic you might be able to expect. This is a form of market research at its simplest level.

There are other benefits of market research that you should be thinking about to help your business.

What the customer wants

For a business to grow and become successful there needs to be some form of market research going on. Not only is this important to size up your competition but it can go a long way towards understanding what your customer wants.

If you open up that ice cream shop and feature a chocolate dip special in a neighborhood that is dominated by vanilla lovers then you’re not going to make a lot of sales. That’s an extreme example but if you take the time to do a decent market research survey, it can reveal information that you may have not known.

It could be the specific type of items that a customer would be interested in, whether that’s special offers, different varieties or a better shopping experience. Having a market research project reveal those types of issues can allow you to adjust your business and bring in more customers.

Types of market research

Just because you are a small business with a limited start-up budget doesn’t mean you can’t engage in a market research strategy. There are many forms of market research that you can tap into. At the high end is a market research firm dedicated to delivering you a comprehensive analysis of all aspects of your business. This is accomplished by a combination of phone polling, focus groups and online surveys.

Conducting an online survey is probably one of the most affordable options when it comes to market research. With this type of campaign you can ask visitors to your website to take a survey or send out the survey to a list of customers who have signed up for an email.

Always remember that you’re inviting them to share their opinions to make your business stronger. In other words, empower them to share their opinions.

As you gather your market research data, only you can decide whether or not to act on that information. However, if the numbers provide you with clues as to why your business might be stumbling, then it’s easy to see that using market research can turn your business around and point it towards a more profitable future.

15 Great Guerilla Marketing Ideas for Startups

The term ‘guerilla filmmaking’ refers to creating a film or video with the barest of resources. That same principle applies to guerilla marketing. This is where a small business can latch onto a simple idea to get the word out about their goods or services. Startups benefit the most from a positive guerilla marketing campaign because of their potential to generate a “big splash” without huge marketing dollars. Here are 15 great guerilla marketing ideas for startups:

1) Put Themes to Work: Anything from special sales to in-store displays can attract more attention when you apply a theme to the event. While the seasons and holidays are good starting point, don’t be afraid to think outside of the box like a “Christmas in July Sale.”

2) Reward Loyal Customers: Handing out a discount coupon to loyal customers will not only generate more of their business but will help get the word out to other potential customers.

3) Start a Blog with Unique Content: If you’re in business, you need a website and that website has to be refreshed with great content. Start a blog and give visitors something new to read or comment on every day.

4) Go with a Viral Video: If you can find a way to get the word out about your product with a video that can go viral you’ll be in a strong position to capitalize on that. Try hiring a young team of college film students and make it funny.

5) Pass out Swag: Sure you can print your company logo on a pen and pass those out but that’s also a bit of a cliché. Today, you can print your logo on just about anything. What can your customers really benefit from? Cup cozies? Cupcakes? Remember you want to create a buzz.

6) Build up your Twitter Network: Encourage customers to follow your company on twitter then use that network to advertise special sales or deals.

7) Switch out your Phone Message: Forget the boring, “We’re not here right now”, swap it out for something fun like, “We’re unpacking product for our next sale.” Make it personal.

8) Ask for Testimonials: If you’ve got happy customers ask them to share their experiences on your website or Facebook page (yes, get one of those too!). New customers like reading positive reviews.

9) Improve Customer Relations: Offer your employees incentives for the most positive customer reviews. When you create a great experience for customers they will keep coming back.

10) Sponsor an Amateur Sports Team: You can’t ask for better community relations than sponsoring a local sports team or two. Just make sure you get your company logo on all the team uniforms.

11) Support a Local Cause: Another way to make a positive impact in the community is to sponsor a local cause. Keep your giving in the neighborhood where you’re customers will see the efforts directly.

12) Use Texts: As with other forms of social media networking, text messages are a great way to remind your customers of special sales or a pick up appointment.

13) Flyers: A slick looking flyer is a great way to generate business. Make sure you have a coupon on the flyer to track their effectiveness and give the person a reason to hold onto that.

14) Make it Personal: If you can find a way to tell your family business story through a local newspaper profile or video then you’ll reach a lot more potential customers by relating to their own struggles.

15) Create a Publicity Stunt: Don’t go too overboard, but even having someone dress up in a chicken outfit to pass out coupons in front of your store can draw attention. It would be especially funny if your store had nothing to do with chickens!

Tips For Optimizing An Email Marketing Campaign

While it is true that traditional mail advertising circulars are still an effective way to reach a customer base, email marketing can truly take your business global. An affective email marketing campaign can improve your company’s chances of increasing its customer base and bottom line. Most of the email addresses you’ll be using in your marketing campaign could be willing recipients. In other words, these folks have signed up for the information you’ll be sending them. The goal is to optimize that email marketing campaign and insure you’ll be creating a positive experience for those customers. Here’s how you can accomplish that goal:

Reconnect With Existing Leads

While it is important to constantly be on the prowl for new lead generation, it is equally important to stay in positive contact with existing leads. You might have been sending them newsletters or special offers without much feedback. We are quickly developing into a society where everyone gets to share their opinion. Why not invite your leads to share what’s on their mind about your business? Ask them about their own needs in the form of a quick survey. Invite them to check out a new “exclusive” offer and provide their comments. This could also be a way of sorting out who is really a “hot” lead versus a “cold” lead.

Use the Power of the Referral

Positive word of mouth is extremely valuable for any business. You can boost that along by asking your existing customers to refer new business you way. You can entice them with a special offer for every referral they send your way. On some level, this is doubling your email marketing when you can get existing customers to do the work for you!

Share Your Business Story

Everyone has a story. The history of a small business is what gives that company its personality and charm. Sharing the origins of your company’s start-up is an effective way to build up trust and familiarity with your customers. You’re no longer just a “shop around the corner” but instead you’re part of the neighborhood. You’re family. That kind of sharing can generate positive feelings for years to come.

Create a Strong Landing Page Lead Magnet

Just as the title implies, a lead magnet is going to pull new customers to your website with a specific offer or benefit. A lead magnet can be a piece of fresh video content or insightful report used to support your business. It’s all about keeping the content on your landing page fresh. Give your lead something new to view, read or participate in.

Provide a “Sample”

Who doesn’t like to get something for free? Grocery stores recognize this by offering free samples of tasty treats. You can provide the same enticement in the form of a free trial registration or demonstration of your product or service. This is a perfect opportunity to education a new customer base about what your company is offering. Once a new customer has been given a “free sample” they often buy the product for themselves!