Philanthropy & social responsibility are paramount to a company's success: Ravi Bhatnagar

Ravi Bhatnagar, Director External Affairs and Partnerships (SOA), Reckitt, delivered a compelling speech at the e4m Do Good Conference in Delhi on Wednesday, emphasizing the convergence of purpose and profit in marketing. 

In a special address, he shared thought-provoking insights on the “Future of marketing: where purpose and profit meet” and highlighted Reckitt's longstanding commitment to social initiatives, including digital literacy and women's welfare, stressing the importance of upholding principles such as consent in all endeavours.

Bhatnagar reflected on the rich history of Reckitt's iconic brands, tracing back to the 19th century, and underscored the growing significance of social purpose communications in today's corporate landscape.

“I come from a company which has a lot of power brands and some of them are very old. The brand Mortein came into existence in 1870, Harpic came in 1932 and Durex came in 1929,” the Reckitt’s leader said. 

He shared personal anecdotes and industry insights, noting the evolution of corporate social responsibility (CSR) from a nascent concept to a government-mandated practice in India.

"Corporate social responsibility (CSR) has taken on a formal role, particularly in countries like India where the government mandates a 2% allocation towards CSR activities. While it's not heavily regulated, initiatives that benefit the community, uplift the marginalized, and contribute to societal well-being are widely acknowledged as positive endeavours. This encompasses a broad spectrum, from installing EV chargers and stations to supporting tribal populations and addressing healthcare challenges faced by various regions.”

As per Bhatnagar, “The true benefit of purpose is when brands align with genuine societal needs, fostering trust and loyalty among customers beyond traditional marketing strategies."

"Philanthropy and social responsibility are paramount to any company's success, as seen in the market leadership of brands like Rolex, Patagonia, and Unilever, which prioritize making a positive difference in society,” he explained

Bhatnagar emphasized the transformative impact of aligning business goals with genuine societal needs. He lauded market leaders across diverse sectors for their innovative approaches to philanthropy and social impact, asserting that prioritizing societal well-being is integral to sustained business success.