A recent survey of CEOs is a stark reminder of how far our economy still needs to go before social impact is seen as a key business driver.
According to the survey, while American business leaders feel more pressure than ever to speak out on social issues, they still would rather not. Instead, theyâd prefer to focus on the bottom line: a plurality say their most important communications goal this year is to sell their products and services.
The positive takeaway? Itâs good to see that nearly 40% of the CEOs surveyed understand the value of communicating brand differentiation (provided they can back it up). Beyond that, though, the survey is disappointing because it perpetuates a fundamental misconception about social impact and business: that the two are in opposition to each other, or worse, that social impact is bad for business.
Social impact isnât bad for business. Itâs the future of business.
Social impact helps drive sales, attract and retain customers, builds a thriving corporate culture, and helps protect brands in fluid and confusing times. CEOs who understand this and move to take advantage of the opportunities social impact brings their companies, will come out ahead.

I understand the concerns CEOs have in embracing impact because I hear them all the time: âHow do we know our consumers wonât be pissed at us?â âIsnât it safer just to stay quiet?â âWhat does selling (insert product) have to do with (insert issue)?â
All good questions. And all answerable. Social impact isnât a lucky guess or something you do on a wing and a prayer. Thereâs a right way to do it so that these questionsâand many moreâare considered, asked, and answered so that you can move forward with confidence.
More to the point, itâs increasingly expected. As Edelmanâs latest Trust Barometer points out, â[as] people look for change, they are increasingly turning to CEOs to lead itâfrom positive change on prejudice and discrimination to training for the jobs of tomorrow to sexual harassment. Today, 76% say CEOs should take the lead on change, rather than waiting for government to impose itâan 11-point increase in the last year alone.â
A recent study from Accenture supports this view. In surveying some 30,000 consumers, the consultancy found that â62% of customers want companies to take a stand on current and broadly relevant issues like sustainability, transparency, or fair employment practices.â
And these actions arenât just for brands…