4 Benefits of Being a Socially Responsible Small Business
Updated: Sep 22, 2019
Becoming a socially responsible small business means that instead of solely focusing on profits, you strive to create a successful business that also gives back to the community and operates in a super ethical manner. By being a socially responsible small business owner, you are ensuring that your values and your business align.
Becoming more socially responsible doesn’t have to be complicated (you can learn how Lashology implements social responsibility here to get some inspiration) and can have many benefits. Here are four major benefits of being a socially responsible business:
Being Socially Responsible Can Boost Sales
Social responsibility doesn’t just make you feel good- it also has the potential to do serious good for your bottom line. Customers are more and more drawn to giving their money to businesses that support the community and give back.
Let’s say your lash business is competing against a business that offers similar quality, has similar pricing, etc., but they also actively give back to the community and donate to charity. For many potential customers, this social responsibility will be the deciding factor in choosing a lash salon.
In fact, surveys have shown that 55% of consumers are willing to pay more for services from a socially responsible company. Today’s consumers are socially conscious and want to make responsible, ethical choices with their spending.
Social Responsibility Strengthens Your Brand
Creating a recognizable and unique brand helps you stand out from the pack and earn more clients. If you add social responsibility to your brand’s image the results can only be positive. Prospective customers will not only recognize your name and logo, but they will associate your business with social responsibility and being a company they can feel great about supporting. They may also be more likely to share your social media content if there is a positive message underlying it that goes beyond simply explaining your services.
You Will Reduce Conflict Between Your Personal and Business Personas
What are the personality and character traits you’re most proud of in your personal life? Are you empathetic, kind, and socially and culturally aware? Becoming a socially responsible business means that you get to create harmony between your business self and your core self. This will ensure that running your business not only provides you with a great income, but also makes you feel content and proud on a deeper level.
You Will Attract the Right Kind of Talent
In addition to being interested in a good salary and benefits, today’s job seekers are increasingly interested in working for a company that donates to charity and offers volunteer opportunities. By embracing social responsibility, you will attract loyal team members who share your commitment to the community. Volunteering together can help you bond as a team and promote better morale and staff loyalty.
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