New Poll shows CSR leaping in importance for customers & consumers in 2010

A brave new post-recessionary world has changed the daily habits and thoughts of many people throughout the world. I’m actually refreshed that from the difficulty of the last few years the empowered consumer or customer is saying quite categorically that Corporate Social Responsibility (CSR) plays a strong part in their decisions when choosing a business supplier, service provider or manufacturer. At Miratel we feel that our CSR program is far reaching and sets us apart as a provider of call center and related services, it matters what we do and we’re proud to share our values and objectives. As each new poll is released in 2010, I review them with great interest and am refreshed to see that consumer/customer values reflect the growing importance of CSR despite what remains a difficult economy.

A new survey by Landor Associates lends growing evidence to the positive change of importance to consumers specifically concerning CSR and those findings are in keeping with other recent polls. The survey was structured around understanding perceptions of CSR and ranked which businesses showed the most responsibility. Some of the results were quite conclusive such as that 75% of those polled stated that CSR is important, in addition some 55% said that they’d rather select a product or service if the provider was in evidence of supporting a cause or issue when the competetion apparently does not do so.

Scott Osman, is the global director of Landor’s citizenship branding practice, he adds that the industries with brands that have performed poorly tend to be the self same ones where responsibility is valued most.

“Corporate social responsibility can be the olive branch between struggling industries and consumers in cases where consumers are experiencing the highest expectations and the biggest let downs,”

The onus on CSR does vary quietly from industry to the next, healthcare is an industry where negative perceptions concerning intergrity and ethics have risen sharply in recent years. A sentiment appears to have arisen that an industry ‘under the spotlight’ combined with the ease of research via the internet is making consumers delve deeper into the practices of businesses than ever before.  Healthcare making its way to centre stage due to the overall scrutiny the industry in under at present from all quarters.  Osman added:

“Apparel, an industry that a decade ago was viewed as one of the most irresponsible, is now perceived as better performing than other industries with regard to CSR practices. [Meanwhile] financial services and automotive are presently at the complete opposite end of the spectrum,”

There is still some education that businesses with a robust CSR program need to engage in as evidenced by the fact that over half of those polled remain uncertain as to the exact meaning of CSR and the benefits of a well co-ordinated program. Even those who are familiar with the term many feel that the components of CSR are limited to the descriptions of ‘giving back to the local community’ or practicing tenacious ‘self-regulation and accountability’. The good news is that compared with a few years earlier the overall understanding of business practices is at a higher level than ever before as is the ease of accessing the information from a chosen business. Its hard to find a large corporation now who are not actively promoting their CSR template either by actively engaging the customer or at the very least ensuring that their approach is outlined onlive via their corporate initiatives information on their company website.

So, should your business be taking steps to become more socially responsible? The answer is a resounding yes – on the grounds that I think it truly does matter and also partly in what the poll illustrates  some 70% of consumers are prepared to pay a premium for services or products from a socially responsible business. Many (more than a quarter) will pay substantially more under those . It speaks to the reality that a company doesn’t need to compromise when it comes to a CSR policy, if anything there is a logical argument that companies have a sensible opportunity to differentiate themselves in a positive manner versus their competition. To that end your business (like ours) should express in clear terms how they give back to the community, the environment and involve their own employee base.

It’s exciting to see the movement toward CSR gaining in both momentum but as importantly in viability. We’ll watch for more news relating to this.

Statistics for this article courtesy of Landor Associates