Corporate Social Responsibility’s Role in Successful Marketing

Corporate Social Responsibility… seems like scary stuff right? It’s not! Corporate Social Responsibility or CSR for short, simply refers to a corporation’s obligation to give back to its’ community. Common tactics used for CSR are partnering with charities, customized company outreach programs, hosting community events, volunteering, and simply donating money to worthy causes. Showcasing your charity work on your website or through communication channels is acceptable by mention only and a great way to boost your company image.

Think of the process as symbiotic or a two-way relationship. If DAWN helps clean the environment and animals affected after an oil spill, this helps their company image by doing something good as well as showing that their product actually works. Also, if DAWN promises to be a large contributor to cleanup after oil spills, people are more likely to buy DAWN to support these clean up efforts.

Another example of CSR is Wal-Mart’s’ efforts to sell locally produced food. It is obvious that when big food corporations pop up in a new town, the relationship between local growers and small markets is no longer necessary. By Wal-Mart buying produce from these growers and still allowing them to sell to local markets, they are preserving these small businesses and helping communities receive local produce.

So, how does this relate to smaller companies? Community involvement can be a great way to create a positive relationship with your consumers no matter how small your business is. Volunteering as a company is a great way to get involved in your company’s community and it shows that you are willing to be a part of something bigger than just your business. If you have the money and resources to create your own customized campaign, do it! The more personalized your efforts are, the easier they will be traced back to your company.

A quick tweet about your company's recent outing to a local food shelf is a great way to share your involvement in your community without overdoing it. By understanding the role of Corporate Social Responsibility in a successful company image and impactful marketing efforts, you can now use this concept to your advantage. By just associating yourself with a good cause you will wreak both social and financial benefits. 


What's Your LinkedIn Strategy?

Do you have a strategy or know ways to make LinkedIn work for you?  LinkedIn is different in comparison to Facebook.  LinkedIn is a ‘professional’ network and if used correctly can help you stand out from the crowd of others that are in the financial advisor profession.  Consider these four key areas in your LinkedIn strategy:

1.  Profile

Include a recent professional photo and a biography of who you are, what you do, and why you do it.  Keep this area clean of text that tells other things such as personal information.  This is where you showcase that you are a financial advisor and should include education, securities licenses, former positions, and companies you’ve worked for in the past 10 years.  If you’ve been with the same company over 10 years, list two companies. Include professional organizations you belong to.

2. Connections

The connection game is not about how many, but the quality and similarities to what you do and who you are.  In the financial advisory business, connect to others you know in your profession such as regulators, wholesalers, company managers, and people you met at conferences that were speakers, etc.  Your connections should show that you are ‘connected’ in your industry and community (think non-profit connections).

3. Posts

Posting can be either your own posts, purchased posts, or articles on line that pertain to your industry and clients.  Posts should be short, current and cover a wide range of topics in your industry. It is not necessary to post daily, but post once a week at a minimum to show your activity (this leads to new profile views).  Post content that is relevant to the financial services industry, and avoid posting political or other content that may be considered offensive to others.  Posting a quote should be done at a minimum and should never be because you think you have nothing else to post.

4. Followers/Reposts

Take time to read other posts from your connections.  This will help you find content to repost or writers and publications to follow.  Choose people or publications that write short, accurate information so that your post is easily understood by clients, prospects, and the general public.

Top 10 Reasons Companies Send Newsletters

Sending clients a newsletter each month is something you should consider.  Here is the Top 10 List of reasons why companies should:

  1. If you’re not in front of your clients each month, someone else is. Social media advertising, telemarketing, and cold calling give someone else a chance to develop a relationship with your client if you are failing to contact them regularly.  Clients perceive you as ‘not taking care of them’ if they don’t hear something from you on a regular basis.
  2. Educating with information that is relevant to clients and is based on the services you’re providing is priceless. Giving clients information that is accurate and unbiased, interesting and entertaining will help them make good financial decisions for themselves.
  3. Newsletters that are branded with your logo, photo, and contact information position you as a professional and an expert in your field, and help them remember ‘you’.
  4. Using the latest technology to deliver your newsletter and articles positions you as someone who is ‘up to date’ and gives your clients the perception you will also present them with the latest options available to them instead of being ‘stagnant’.
  5. Sending out your newsletter in the format your client prefers shows them you listen to their requests. Some prefer dynamic (work like a website) issue, while others prefer a paper copy. Posting articles to your website, blog, or social media shows you’re ‘capable’ to your ‘tech savvy’ clients.
  6. The likelihood that the newsletter will be shared can result in a new client. Clients relay information they learned through you (your newsletter) to friends and family members.
  7. Connecting each month helps the emotional stress a client can experience during a ‘crisis’ that results in value decreases in their accounts. The more you are ‘in front of them’, the more relaxed they are when events happen. 
  8. Timely articles in your newsletter can educate and override misinformation that clients may hear at work or through the media. Proactive decision making overrides reactive decisions that may be hard to recover from.
  9. Newsletters help make client meetings more productive. Because you’ve educated them on many financial topics through your newsletter, client meetings require less ‘explaining’ of concepts and more action happens.
  10. Monthly newsletters count for the 12 of 20 yearly contacts you need to retain a client over time. Studies by various agencies in various industries support this statistic.