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From large publicly traded companies to small private companies, thousands or even millions of dollars are spent annually on marketing. However, marketing is by far the most difficult business activity to measure return on investment (ROI). In today’s multimedia world, businesses have a host of marketing tools to take advantage of, but many of us may feel like we can’t even catch up on the latest news, let alone integrate the newest technology into efforts and effort. current marketing strategy.
Marketing, by definition, means creating a favorable condition for sales. Your ultimate goal is to convert prospects into end-users, customers, or customers. Additionally, customer loyalty activities are necessary to retain your customers. For years, marketers have used the “my win” approach as the primary way to communicate their message through print and digital media (such as online advertising, social media, video, etc.). But does that approach consistently create a pull effect (that is, draw your customer to you)? Are you considering whether or not your marketing includes a positive social impact message?
So what does social impact mean? According to ROI Ventures partners Rachel Bellow and Suzanne Muchin, it means “social intent; an intentional effect on society that has progressive consequences of social justice, access, equity, opportunity, environmental issues; but not political.” Environmental issues refer to those efforts focused primarily on the marketing environment of human experience, human behavior, and its sustainability. For example, Groupon and Google are putting power in the hands of their end users, thus creating a social impact. So as a first step in marketing planning, it’s a good idea to think positive. Social impact of your products or services.
Most entrepreneurs start their businesses with the intention of making more money and becoming financially independent. But most of them also have a great passion for doing good works for our society. (It seems that in today’s world, people want to import more and they want their products or services to matter more.) When money and meaning finally meet at that crossroads, people demand more from producers for it and expect more from those they want. to buy. It is the ultimate benefit for both buyers / users and suppliers, whether they are publicly traded companies, non-profit organizations, government suppliers or small businesses.
Have you considered modifying your communications to include “what we get from us?” What positive social impact does it bring to the market? Bellow and Muchin at ROI Ventures, the top experts helping innovative entrepreneurs, philanthropists, legislators, universities and nonprofits, deliver social impact branding strategies for businesses ready to generate positive social impact. Bellow and Muchin started ROI Ventures in 2007 and have seen rapid growth in the field of social impact communication. Here is an example of his work:
What can you learn from a profitable, fast-growing, but intentionally society-conscious company to create the rigidity of a brand that ultimately helps your suppliers and end-users?
- Business model alignment begins with your passion and purpose. This means turning a good idea into a great idea and helps create wealth for both owners and society.
- Using vertical and horizontal niches to expand the market.. Bellow and Muchin apply a niche focus on social impact communication. They apply that niche horizontally through for-profit organizations, non-profit organizations, and small businesses. Additionally, they vertically apply this strategy through go-to-market messaging and branding services for integrated marketing and communication.
- The CHANGE of the norm. The output of your products or services plays a part of how human behavior affects a movement. The change will happen if you have the correct message. As a result, there is an effective attraction of the end users who are looking for it.
Regardless of the marketing tools you use to spread your message, you must consider the social impact on the message or content. Now, “what’s in it for us?” But it goes beyond communication: your intellectual property or “know-how” can be packaged in a way that leads to positive social footprints, further extending the reach of social impact. That is the return on investment in communication and marketing.