Businesses that are also social do-gooders can potentially increase profits by appealing to consumers who care about social responsibility. Denver-based Tuggl hopes to help these kinds of businesses get the recognition they deserve.
Tuggl is an online arena where consumers and nonprofits can rate and review companies based on their social actions and whether they display a commitment to the community as well as their customers. Businesses can be rated according to service, price, and quality—which customers rate—as well as donations, pro bono activities, and volunteering—rated by the nonprofits.
Why This Trend Is Growing
- Social Ratings
- Tools and platforms that provide ratings and reviews for businesses based on their social responsibility actions.
- Cause Marketing
- Marketing strategies that focus on promoting social responsibility and community commitment to attract socially conscious consumers.
- Corporate Social Responsibility (CSR) Monitoring
- Monitoring and evaluating the social responsibility actions of companies to ensure they align with their stated values and contribute to social and environmental well-being.
Industries Being Reshaped
- E-commerce
- E-commerce businesses can leverage social ratings to differentiate themselves and appeal to socially conscious consumers, while also strategically partnering with nonprofits to support causes aligned with their brand values.
- Marketing and Advertising
- Marketing and advertising agencies can help businesses develop cause marketing campaigns that highlight their social responsibility actions and values to attract and retain socially conscious consumers.
- Nonprofit and Philanthropy
- Nonprofits and philanthropic organizations can utilize social ratings to identify businesses that align with their mission and values, and build partnerships to facilitate mutual support and impact.
