Charity Makes Good Business Sense

Posted by Fitz Villafuerte under Business on January 9, 2008

Have you noticed that most big companies often support a charitable institution? Some of them even launch public campaigns for the benefit of these organizations.

In the Philippines for example, television networks such as ABS-CBN and GMA7 both have their own foundations that help the poor and the oppressed in the country.

Even international companies such as Starbucks do their share of good deeds through SparkHope, a project with UNICEF which aims to provide early childhood care for local communities.

These companies realize that supporting charities can make good business sense. According to research, 57% of consumers said that they are more loyal to socially responsible companies and 52% are more likely to talk to friends and family about those corporations, products and services.

Aside from the favorable publicity and tax deductions, supporting a cause adds another dimension to your brand and business and more importantly, provide a sense of meaning and fulfillment to you and your employees.

Cause Marketing is not limited to large corporations and national franchises. Small and home-based businesses can also gain from this endeavor. Here are some tips which you can do if you want to invest in good karma:

  • Set aside the budget for these campaigns. A percentage of your dividend or personal income is always a good place to start. You can also allot a portion of your advertising and marketing funds into these.
  • Select a cause that you believe in and at the same time, compliments your business. If you own an internet cafe, then why not offer free computer tutorials for adults? If you own a pharmacy, you could organize medical missions for your local community.
  • It is always beneficial to ask the support of local government officials and solicit sponsorship from bigger companies to help fund your cause.
  • Be consistent. Make these charitable works a regular activity for your business. This will create a long-term impression within your community and help establish a good and solid reputation.

To set myself as an example, I would like to promote this website which aims to help end world hunger by providing free rice to hungry people. Click on the banner below and play the game on their site, not only will you improve your English vocabulary, but you will also help in feeding the world.

Did you like this post? Why not subscribe to Ready To Be Rich and receive more tips on how to improve your small business.

Works Cited:
Hein, Kenneth. “Brandweek: Giving is Becoming Cool”. March 19, 2007. As posted in Touch Points: Good Things Come To Brands That Give by Steve Rae on June 18, 2007.



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6 Responses to “Charity Makes Good Business Sense”

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