Just like any area of business, brands must devise CSR strategies in a way that avoids pitfalls. In this episode, we will look at various ways brand owners can avoid pitfalls while devising and implementing CSR strategies.
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Responding to attacks in a positive manner is just as important as being socially responsible. A company must follow several rules before devising a CSR strategy linked to sports to avoid pitfalls.
One of the most vital aspects of creating a CSR program is to identify connections between the sport and the brand. Unless a business is able to identify a connection between the brand and the sport it wishes to sponsor, the whole purpose of the CSR program will go in vain.
An eBook published on IMR Sponsorship mentions the following:
“The most important rule is that there must be a connection with the business and, if there is a portfolio of activity, it must be cleverly spread and strategically thought out so that it is linked back to a company’s core competencies. This is not about trying to impress stakeholders by supporting a large number of sports and good causes. A long list will usually lack a common theme or any coherence. Like any other area of business, creating a shopping list around CSR and sport is not a viable strategy.”
Another crucial point that businesses should take into consideration is the fact that linking CSR to sport is not only about fostering brand awareness. While giving brands a boost in terms of visibility remains one of the priorities of businesses, linking CSR to sport should be more than just about enhancing brand awareness. Businesses should sponsor sports with the greater good in mind.
Another crucial point for businesses to follow is to remain transparent while linking CSR to sports. Stakeholders and customers demand complete transparency from brands while fulfilling their CSR obligations.
In addition to being transparent, brands must also highlight their mission and values through CSR activities. The IMR Sponsorship eBook mentions the following:
“When a decision has been taken to spend some or all of a CSR budget around sport, a programme should be devised that displays an obvious synergy with the organisation’s own mission statement and values, as well as its products and services.”
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