Does business sustainability create value? According to the post, Companies that Invest in Sustainability Do Better Financially, yes, CSR does add value. Resource efficient companies — those that use less energy and water and create less waste in generating a unit of revenue — tend to produce higher investment returns than their less resource-efficient rivals. As such, sustainability metrics are an important part of evaluating a company's triple bottom line. However, how those metrics are communicated in relevant, meaningful ways to stakeholder is another issue. Questions surface as to how to pair marketing metrics and communications with sustainability metrics.
As a general rule regarding metrics identification as a whole, three key elements include:
• Align metrics to corporate goals. A top-down approach to metric selection both provides corporate alignment and helps prioritize metrics, the key is to strike a balance between the strategic-level and operational-level metrics.
• Select the right mix of metrics. A dashboard may include a multitude of KPIs you measure; it is important to include metrics that actually matter and are aligned to stakeholder needs.
• Design effective dashboards. Select the right metrics as well as the most effective strategies to communicate those metrics.
Now, enter the social and communications aspect. The sole focus of social business (or socializing a business and its operations) is value creation. However, specific to CSR communications and business sustainability, how does that happen? By identifying the correct metrics associated with appropriate messaging to targeted stakeholder groups, therein lies the opportunity to creates bridges between the corporate world and its stakeholders - and add value. The post, Why Customized Content on Social Media Engages Stakeholders, shares more about this in detail.
At Taiga Company, we believe there is an emerging role for social media in stakeholder engagement and for businesses to communicate their broader corporate responsibility agenda to create shared value. Social media provides individuals, communities, businesses, and non-government organizations the ability to connect with business in meaningful discussion from anywhere in the world in real time. However to focus the corporate ear, business sustainability minded organizations must effectively and mindfully engage with those stakeholders who have a vested interest in the success of the business.
Need help your social media marketing strategy or increasing stakeholder engagement on the social web? We specialize in social media for sustainability and CSR communications. Contact us today to learn more.