The Importance of Social Enterprise: How Brands Can Better Connect With Customers
As a social enterprise gifting supplier, we are looking into the landscape of social enterprises and the connections they make with customers. Today’s social landscape has forced consumers to take a stand and voice their opinions. As a result, brands no longer have the luxury of staying neutral or ignoring demands from customers, partners, or even competitors to be more sustainable. The pressure is now on and companies can no longer shy away from issues that impact communities and the environment. Instead, they must actively engage with customers and find ways to build trust through actions instead of words alone. Social enterprises are standing out in this area and are showing consumers that their intentions are pure. While sacrifice and good intentions alone do not guarantee brand loyalty; brands that embrace social enterprise as a legal structure are more likely to see positive results both in terms of trust and sales volume. This is because people want to feel like their purchases are making the world a better place rather than lining the pockets of executives with undeserved bonuses and incentives.
Brands have long known that consumers want to see their values, not just their products. That is why it’s no surprise that social enterprise is gaining momentum as a way for brands to satisfy both demands. This transparency helps brands connect with customers by connecting their purpose and product. It also gives them opportunities for new revenue streams and a competitive edge in an increasingly crowded marketplace. A social enterprise is a business that meets a social need while also producing financial returns which are most commonly reinvested or donated. It’s different from other businesses because it has dual objectives of serving the public good and generating enough profits to remain financially sustainable. There are many ways that brands can adopt social enterprise, whether they have a ready-made idea or need to start from scratch. Social Stories Club is a social enterprise gifting company and through our social mission and the sales of corporate Christmas hampers, we have been able to introduce 1 million people to social enterprise.
What is Social Enterprise?
Social enterprise refers to businesses that are designed to generate social impact in a financially sustainable way. These organisations are often set up to address a social need in a given community. For example, a bakery might be set up to employ residents who are re-entering the workforce after previously receiving public assistance. Social enterprises often generate profit and reinvest that money into the social good. Social enterprises can be set up for a variety of purposes. Some are designed to create jobs for marginalised populations, while others are meant to solve a particular social problem. The important thing to remember is that these businesses have to generate profit while also producing social benefits. The social benefits can come in the form of jobs, increased community engagement, or even solutions to a pressing social issue. The profits are most often invested to create more social impact.
Why it is important to purchase gifts from social enterprises this Christmas
For many consumers, the choice to purchase social enterprise gifts as opposed to more traditional gift-giving options is a moral decision. These consumers are seeking to support businesses that promise to put a portion of their profits towards charitable causes or social issues. While the decision to purchase from a social enterprise is an ethical one, it can also be an intelligent choice for gift-givers. Social enterprises often offer unique and creative items that are difficult to find in traditional gift shops. This can make the gift more memorable and personal, which is important for gifts that will be displayed throughout the home. Furthermore, social enterprises often offer products at significantly reduced prices compared to other options available to gift-givers, which can help stretch gift-givers budgets at a time of year when many people’s finances are tight.
Customers want to give gifts with interesting stories
For many shoppers, the gift selection process starts well before the holidays. After all, it’s not easy to find the perfect gift for every relative, friend, and colleague. Most people want to select gifts that their recipients will love and remember. One way to do this is to select gifts with interesting stories. Social enterprises are a great way to put a personal spin on gift-giving. Social Stories Club’s social enterprise hampers have fascinating stories of impact behind the products inside from soaps that support individuals with disabilities to teas supporting refugees.
Corporates are implementing social enterprises into their supply chain
Some large, global companies are now making efforts to incorporate social enterprises into their supply chain. This can help mitigate a company’s carbon footprint and turn a philanthropic eye towards local communities. For example, a tech company may decide to purchase recycled paper from a social enterprise that employs underprivileged people in the area to collect and process the paper. This partnership can help the company satisfy its sustainability goals while also helping the local community. Corporations are adopting social enterprises and sustainability as a strategy to attract and retain socially conscious workers. By purchasing sustainable corporate gifts instead of traditional gifts they are displaying their values.
Social enterprises can be a great way to incorporate a company’s philanthropic goals into its business model. This can help the company reach its sustainability goals, while also providing customers with interesting and thoughtful gift options. Many social enterprises offer unique and creative gift items that are difficult to find at traditional gift shops, making them thoughtful gift options for all types of gift-givers, from friends and family to business associates. Successful social enterprises are demonstrating that customers have values and ethics at the forefront when making purchases and look for sustainable brands to meet their expectations. Social Stories Club is an example of a social enterprise and they make sustainable gift hampers for clients, employees and individuals. If you are a business looking for branded corporate gifts, bespoke corporate gifts, or pre-curated corporate gifts, head over to our corporate gifting page where we can build the perfect ethical gift for your team. You can even decide what is inside your gift and build your own gift hamper.
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