IT’S ABOUT BETTER BUSINESS! EVEN IN “CORONA-VIRAL” TIME
Hard times ahead but can you use the time to your advantage? – Marketing Tips to make your business stronger than ever before!
Times might be tough in the coming weeks or months but when things are quiet, invest in yourself – read, watch, listen and learn more. DO WHAT YOU CAN TO BENEFIT YOUR CUSTOMERS IN THE LONG-TERM. These tips about marketing might be a good start.
Introducing Societal Marketing
Societal marketing is a concept or maybe closer to philosophy for your business, it’s still focused on DRIVING PROFITS but introduces the concept of SOCIAL RESPONSIBILITY INTO COMMERCIAL MARKETING STRATEGIES.
Societal marketing often gets confused with social marketing, while it might look like there are some parallels, they are very different. Social marketing is applying marketing techniques or tools to change social behaviours for the wellbeing of society, driving company profits is not a concern.
Do you see the differences? Let me help you more…
How can you use societal marketing to benefit your business?
Societal marketing should be viewed as A LONG TERM STRATEGY, you are aiming to do good for a society which may mean in the short term you reduce your margins, you then share your positive impact with your followers, customers and prospects.
Some of the societal issues that gain the most coverage is: Sustainability / Carbon emissions / Animal cruelty / Fair pay/sweatshops/child labour / Recycling / Equality
In today’s world, all businesses should be doing what they can to combat societal issues, consumers are more conscious of their buying decisions than ever, but I must stress IT MUST BE AUTHENTIC, don’t align yourself with a cause just for short-lived brand benefits, you must use societal marketing with the correct intentions.
A good example we all know and love is the Bodyshop. The cosmetic company founded by Anita Roddick in 1976. The company uses only natural, vegetable-based materials as ingredients for its products. It is totally against animal testing, advocates community trade, as well as complete protection of the planet. Throughout their marketing, the Bodyshop highlights these societal issues, alongside the how and why. Campaigning for these issues does nothing for the companies’ margins, but has a positive impact on their success, and brand strength.
Find the societal issue that ties closest to your brand, make a positive impact & share it!
At DM2 we combine our skills i.e. marketing with our passions or causes close to our hearts. For example:
It’s a fact that women-led businesses face more challenges balancing family life, lack of confidence, achieving credibility etc. As a women business leader myself, I understand the challenges faced by women and mothers in business, of course, that subject is close to my heart, so we champion other women business leaders! It’s about inspiring other women and girls to grow up to be kick-ass businesswomen! Moreover, e.g. the results of Womenomics idea are working for businesses: with 3 or more women in decision-making positions, ROS (Return on Sale) is plus 84%!
Supporting the natural environment
One of my passions is skiing and the natural world (scuba diving), the wonder and beauty of the natural world must be protected so how can we combine this with the world of marketing?
Did you know that 20% of all advertisements feature animals? The Lion’s Share Fund is a new United Nations Development Programme (UNDP) encouraging advertisers to get to work on wildlife conservation when they use animals in advertising. The goal is to raise money by getting companies to contribute 0.5% of their media spend to the fund for each advertisement they use featuring an animal. It’s a no brainer for us to support the Lion’s Share Fund.
These are just 2 of the issues we as a company feel passionately about so it’s a no brainer to use our business to do some good!
It’s about better business!
Societal marketing concept holds that a company should make good marketing decisions by considering consumer’s wants, the company’s requirements, and society’s long-term interests.”
Societal marketing came from the backlash against businesses for unethical practises which often exploited people or the planet for increased profits. The marketing strategies of the future need to care about 3 considerations:
1. Society (Human Welfare) – Companies must make sure the products, services, actions, investment innovations servers society first.
2. Consumers (Satisfaction) – Products and services should be satisfying the consumer’s needs.
3. Company (Profits) – Building long-term customer relationships, being socially responsible, and providing satisfactory products are important for profit-making and wealth maximization.
Advantages to you as a business are better relationships with your customers, increased loyalty, retentions, brand building and the knowledge that you are making an impact!
The question is why wouldn’t you use societal marketing?
“Be a part of something that is bigger than yourself!” – it is worth talking: firstname.lastname@example.org