Is Social Enterprise Right for Your Brand?

Hello, I’m Marianne Tenenbaum, Branding Strategist, for Once a Day Marketing™. Today we are discussing the concept of social enterprise and whether or not it is a positioning you should consider for your brand.

A social enterprise is a company or organization that uses common business strategies to drive improvement in the environmental or human services arenas as a primary business or in addition to their core competency. This may include a focus on increasing beneficial social impact rather than the typical profit driver. A Benefit Corp is a good example of a social enterprise although they are not limited to a particular form of business.

There is a growing trend among investors and consumers to seek out socially and environmentally conscious companies with whom to do business. There are approximately 1,395 certified B Corps in 42 countries around the world.

According to bcorporaton.net, compared to other sustainable businesses B Corps are:
– 68% more likely to donate at least 10% of profits to charity
– 47% more likely to use on-site renewable energy
– 55% more likely to cover some health insurance costs for employees
– 45% more likely to give bonuses to non-executive members

If your company is socially and environmentally conscious or moving in that direction, consider investigating the requirements to become a certified B Corp or other form of social enterprise. If you want to differentiate your brand, this could be a great way to accomplish that goal. Research “social enterprise” or “benefit corporation” for more information.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. Contact Marianne Tenenbaum at (505) 699-7849 or email mten@onceadaymarketing.com. Listen to Ask Those Branding Guys™ every Monday at 11:00am (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

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Filed in: 7Ps of Marketing • Knowledge • Positioning (Bonus) • Strategy
Tagged with: 7Ps of Marketing • James Glover • Marianne Tenenbaum • once a day marketing • social enterprise • that branding guy