Social marketing is a
marketing
method based on the idea that companies increase their value by fulfilling their social responsibilities, gain the trust of consumers, and contribute to sales. It was proposed in 1971 by American management scholar
Philip Kotler
.
A similar concept is CSR (Corporate Social Responsibility). Considering that the main activities of CSR are conservation of the global environment, sustainability, and contribution to local communities, CSR activities embody the idea of social marketing. Yes.
Benefits of social marketing
The purpose of social marketing and CSR activities is to pursue profits for society as a whole, and it may seem that there are no benefits for companies. However, in today’s world, companies that neglect their social responsibilities will not be accepted by consumers or other companies. Not being conscious of social responsibility is already a disadvantage in itself.
With that in mind, the benefits of social marketing are as follows:
- Appealing effect to investors
Social marketing’s activities increase the value of a company’s existence in society. If investors have confidence in the sustainability of a company, it will lead to securing stable shareholders and stabilizing the stock price.
- Strengthening competitiveness
Being active in social marketing and CSR activities increases corporate value. Consumers and stakeholders evaluate a company’s attitude of not only pursuing its own profits but also returning profits to society.
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