Why Your Business Should Be a Benefit Corporation, or B Corp
Brands leading with purpose will yield stronger reputations, brand affinity and bottom-line results.
We live in an era of social responsibility, both on an individual and corporate level. This responsibility is not only felt from internal pressures but is heavily demanded by a conscientious consumer base. Many consumers will avoid buying from brands without social causes or give-back plans. This is why, if businesses today want to succeed, they must find a cause, champion it, and embrace the values that cause embodies.
When your business champions values and works for a purpose, it will be more profitable. That is the bottom line. But, something interesting and intangible also happens: your consumers will be more likely to recommend your business to friends and family, defend you in the event of a misstep or public criticism, and trust you implicitly. They feel like they’re vicariously supporting your cause when they purchase from you, which will build brand loyalty. The 2020 Zeno Strength of Purpose found all these positives, and more, in their study of 75 brands and more than 8,000 consumers in eight countries.
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