Future-ready businesses are trusted businesses

Consumers have more choice and more control than ever before. They are demanding that businesses understand their needs and desires, and more importantly, that they can be trusted to behave in a responsible, ethical way.

Recent research by Vodafone surveying future-ready businesses showed that 82% agreed that customers were becoming more powerful and that 67% thought it was extremely important for their business to be socially responsible.

Responsible business during the pandemic

Consumers want to support businesses with a social and moral conscience that aim to do good in the world. That’s why during the COVID-19 pandemic, businesses were looked upon to support consumers as well as the NHS and public sector.

Vodafone, for example, increased 4G capacity at the NHS Nightingale hospital in London and provided free network support and technical assistance so that staff and patients could stay in touch with their families and loved ones.

Vodafone also gave small businesses six months of free unlimited broadband to help them get through the COVID-19 crisis. The offer, which also included six months of free Microsoft 365 Business Standard, gave a lifeline to businesses who may have struggled over the past few months due to the coronavirus pandemic.

And we launched the Great British Tech Appeal, a programme for businesses to donate unwanted smartphones and tablets with the aim of redistributing the technology to disadvantaged children, families and the charity workers who support them.

These measures align directly with Vodafone’s purpose and profound sense of social responsibility, but also show the good that can be done when applying authentic company values.

Environmental sustainability

Businesses have also demonstrated their sense of social responsibility in regards to the environment.

The importance of the issue has increased over the years as the public grows more vocal, regulation continues to increase, and most importantly, businesses become more proactive in making sustainability a core part of their existence and operations.

The most common way for businesses to drive their sustainability agenda is by using energy efficient technology – whether that’s to reduce carbon emissions in the supply chain, waste, or even the energy consumption of an office building.

Vodafone was also responsible for the reduction in its energy usage by 100 gigawatt hours in three years, preventing 25,000 tonnes of CO2 from entering the atmosphere and saving the company £10m.

Ultimately, customers today prefer to buy from and work with socially responsible companies they feel they can trust. So, as moral issues continue to rise up the agenda of citizens and governments around the world, businesses have to make sure they’re doing everything they can to play their part.

It’ll be those that take the initiative now that will be able to attract and retain their customers, allowing them to build a business that is ready for a sustainable future post COVID-19.