Today many businesses want to make a difference in the world. Besides following the current marketing trends and growing a business, what are some of the other benefits of creating a social enterprise?
There are many benefits to being a social enterprise. If you wish to have your company be not just for money but a true philanthropic business, there are many rewards that you may not know. Businesses that give back do very well overall. There is a great feeling of satisfaction when you see your social enterprise doing work for the greater good, whether it be a charitable cause you care about or environmental conservation. We put together a list of reasons why your social enterprise is more than just a means for profit.
7 Reasons Why Social Enterprise E-Commerce is More Than Just Profit
A Social Enterprise Shows Leadership
A social enterprise is a great leadership tool that can foster greater employee motivation and retention. We know that 56 percent of the workforce belongs to the millennial generation. Overall this generation wants to make a difference and is motivated for more than just a paycheck. They really want to make a difference. Many feel that the mission of their company is more important than its profit margin. This will also attract the best people to work with you, as you have the same goals.
Creativity Blossoms in a Social Enterprise
Social enterprises allow you and your employees the opportunity to come up with innovative ideas. This, in turn, will cause the employees to have a rejuvenated ideal for their jobs. Your employees will empower your success when they feel they are contributing to the greater good. When your employees share the same core values that you do for social enterprise, they will feel encouraged to develop new and more efficient ways to do their jobs, as well.
Unique Temperaments Emerge in the Company
According to a survey from Inc.com, 30 percent of employees say they work more efficiently for companies that have social ethics built into the company culture. It does show that a more motivated workforce will lead to greater productivity, which leads to a healthier bottom line for your business.
A Belief in Yourself and Your Business
Today, many social enterprises are getting the recognition that they deserve. When you increase your brand awareness with social causes, you are also bettering your brand’s reputation. This consistent brand identity aligned with a social cause can significantly grow your business.
Do not forget that customers feel good when they purchase from a business that is behind a social cause. The whole idea of teaming together for the greater good on a global level is very appealing to people. Do not miss opportunities to promote your business philanthropy whenever and wherever possible. Make sure you have ample posts on your best social media platforms. When you let the public know that your company is more than just a profit margin, it increases brand awareness and creates a positive and consistent brand identity.
Persistence is Key for Your Social Enterprise To Thrive
As with anything in life, persistence pays off. After all, a social enterprise needs to use commercial strategies to implement social and environmental well-being. Social enterprises have both business and social goals.
Companies that have short- and long-term success in mind are changing the way they do business to follow the current marketing trends. They are now inserting a social purpose at their core. These benefits will help increase the bottom line, as well as have a positive impact.
Making A Real Difference Socially
There will be nothing more satisfying than having a successful business that also manages to be one of the businesses that give back. The goal is to promote and encourage social change. Don’t just pull a “greenwash” to draw people in. You need to be sincere in your mission that you project to your audience. In other words, practice what you are representing and be completely transparent with your efforts.
Better Overall Customer Relations
Of course, your customer base will hold your business accountable for its operations. Many American consumers believe that companies should be leading in the movement in social changes. A social enterprise needs to be sincere to win over customers. This will build brand awareness and loyalty and will nurture client relationships and grow your business. When your customers see that you stand for a social or environmental cause, the relationship goes much further than just your product.
Inner Works Pro can show you how to grow your business. We know what business trends to watch to help build your social enterprise. Contact us today to get started with your business assessment.