Charity Makes Good Business Sense
This article is posted under Business.
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.
Posts You Can Read Next:
Mission, Vision and Values: Defining The Purpose Of Your Business
You’d probably notice that in most corporate offices, mission and vision statements along with the company’s list of core values are beautifully framed and displayed on the walls. Why do you think so? Well, the reason for this is not only to inspire but more importantly, to guide and remind the organization of its purpose,...
How To Come Up With A Catchy Business Slogan
Aside from a good name and a memorable logo, a business can greatly benefit from having a catchy slogan. Just like how a song can get stuck in your head for several hours, a brilliant tagline can remain in your subconscious for years, and continuously influence your purchasing behavior. But what exactly is a business slogan? Is...
How To Plan An Effective Business Grand Opening
After months of research, preparation and hard work, it’s finally here – the grand opening for your business. It’s the day when you formally open your doors to customers and start making money. But what else do you need to do on this day aside from cutting that ribbon with those over-sized scissors? The grand opening for your...
Hi, my name is Fitz and this is my blog entitled, Ready To Be Rich.
