The financial crisis might be creating a mind shift in business. Some companies seem to realize that the way to customers' hearts might lie in building connections with society.

First out of the blocks is Pepsi which, according to the New York Times, has announced a $20 million cause related marketing campaign where it launched the Pepsi Refresh Project, using Twitter, Facebook and a web site refresheverything.com, to support local causes. As part of the deal, Pepsi has pledged $20 million for donations to local organizations and causes.

For the first time in 23 years, there will be no Pepsi ad at the Super Bowl. As the Financial Times puts it, this is a radical shift for any company. "With a major digital campaign that features its own website and a heavy presence on Facebook, PepsiCo is betting that a more interactive approach will resonate with consumers in the always-on age of social networking sites. 'We're living in a new age with consumers,' says Ralph Santana, vice-president of marketing for PepsiCo North America. 'They are looking for more of a two-way dialogue, story-telling and word of mouth. Mediums like the digital space are much more conducive towards that.' PepsiCo's decision highlights a shift among consumer goods advertisers, who have historically invested less than average in online marketing. By giving brands a direct line to customers through fan pages and applications, Facebook says it can foster lasting connections between brands and consumers, something banner and search ads - the dominant forms of online advertising - are hard pressed to do ... 'Instead of getting 30 seconds to connect with their customers, they're getting 30 days,' says Mike Murphy, vice-president of global sales at Facebook. "They're looking at this as a way to create longer-term value, and to help their customers better understand what Pepsi stands for."

All this coincides with Pepsi chief executive Indra Nooyi telling The Telegraph that Pepsi will focus on increasing profits from healthy foods like Quaker Oats and fresh fruit juices.

In an era where trust in corporations has plummeted, something I blogged on yesterday, Pepsi has read the mood right and has come up with a strategy which it hopes will regain trust.

It's also something that has been picked up by Bill Gates who, according to The Economist, has taken to letters, blog posts and tweets to push education reform and aid.

Do these developments represent a new mood in the business community? Hardly. But it suggests that corporate social responsibility is taking on an new lease of life.