From a growing field of research, we have come to know that supporting a cause is good business. And that is enough to reflect on the fact that how people are more inclined towards a brand or brands that support a charity or cause. Also according to a study conducted by Cone Communications, it was brought to light that Ninety-one percent of consumers believe brands should do more than just making a profit, they should address various social or environmental concerns too. Which as human beings concerns us all.
Given these facts and research, we can see Businesses are responding, as at least 75 percent of businesses have seen participating in “cause marketing,” which means to support a charity and marketing it to the consumers.
All in all, this noble act of giving both our businesses and the community, reaps its rewards. And aptly said Annelies Marie “Anne” Frank who is a world-famous German-born diarist and World War II Holocaust, the victim. “No one has ever become poor by giving.” Anne Frank.
So here are Five ways Charitable Giving is Helpful for Both our Community as well as our Business.
Your community gets support:
When we team up with our local charities, our business starts to move in a direction that makes more of a positive impact on the community. Then it can be anything from supporting an agency working for animal adoption or some regional hospital that fights cancer cells or some other dire diseases. According to Cause Marketing Forum, such charities have received two billion dollars in 2016 only because of cause marketing.
Your business builds trust and loyalty:
When we look at any business, the very foundation behind is to build a relationship with customers that establishes trust and loyalty with our business. It is evident from various research that supporting a cause can help us achieve that.
Your business can attract new customers:
When we are supporting a cause we are likely to grow our business and build a larger customer base. As it is seen that more and more consumers are willing to switch to a brand which is helping and working for a cause, we can leverage from this by educating the consumers about the cause and our commitment to improving the area which we are targeting for bringing about a positive change, and by doing so we can set ourselves apart from the rest of our competition.
Improving Your Community:
When we support community-based organizations like schools, hospitals, and local nonprofits, we help to make our community a better place. Where everyone can live and work and prosper in a healthy environment. This in turn also not only benefits them but also benefits us and our business, employees, and our customers.
For instance, we can look at Sam Mizrahi Toronto based real estate developer and entrepreneur who is the force behind the project The One Bloor West development, Toronto’s first supertall skyscraper. Sam is highly regarded as one of the generous and engaged philanthropists, which is aimed at developing his community and building a healthy ecosystem for their development and growth.
We can get many opportunities to meet and interact with the leaders in the community which tend to involve and participate in charitable institutions and drives. By participating in such charitable organizations and events we introduce ourselves and our business ideas by interacting with local officials and community and business leaders of which benefits can be shared by that organization as well as our business.