What is a CIC?
What is a CIC and how do they operate? A CIC is a type of for-profit company that is certified by the non-profit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. CICs, also known as B Corporations, use business as a force for good and are committed to creating positive change in the world. They are a growing movement of companies that are using their businesses as a force for good, and there are currently over 3,500 CICs in over 150 industries in over 70 countries.
Why Choose a CIC for Your Marketing Needs?
- They prioritise people and the planet. CICs prioritise the well-being of their employees, customers, and communities, as well as the environment. This means that they are more likely to engage in ethical and sustainable business practices, such as reducing their carbon footprint and supporting local causes. They understand that a healthy planet and strong communities are essential for long-term business success.
- They drive positive impact. CICs are required to report on their social and environmental impact, so you can see the tangible difference your marketing spend is making. For example, Patagonia, a well-known CIC, has donated more than $89 million to grassroots environmental organizations since 1985. CICs are also required to consider the impact of their decisions on all of their stakeholders, including their employees, customers, suppliers, community, and the environment.
- They are trusted by consumers. CICs are held to a higher standard, so consumers are more likely to trust and support their products and services. In fact, a study by B Lab found that 87% of consumers would consider switching to a brand associated with a good cause, given similar price and quality. Consumers are becoming more conscious of the impact of their purchasing decisions and are looking for companies that align with their values.
- They are good for business. CICs have been shown to outperform traditional businesses in terms of financial performance. A report by the Global Impact Investing Network found that CICs had a median internal rate of return of 15.5%, compared to 7.3% for traditional businesses. CICs also have lower employee turnover and are able to attract and retain top talent, as employees are drawn to companies that are making a positive impact in the world.
Overall, choosing a CIC for your marketing needs not only helps drive results for your business, but also makes a positive impact in your community and the world. By supporting a CIC, you are investing in a company that is committed to creating positive change and using business as a force for good. So, it is a win-win situation for both your business and the community. Working with a CIC can help to differentiate your business and give you a competitive edge in today’s marketplace. Don’t miss out on the opportunity to make a difference and drive positive change through your marketing efforts. Consider choosing a CIC for your next marketing campaign.