For modern business, being an active philanthropist in the local community doesn’t mean sacrificing revenue. In fact, these ventures can actually inspire a measure of goodwill that keeps a business on track for more sales and customer revenue.
According to a recent study performed by Echo Global and Cone Communications, 91 percent of customers are motivated to switch brands to one involved in charitable work, given comparable quality and price. People today are eager to support companies that are concerned about
their community. In order to engage with old customers and attract new ones, businesses would do well to embark on social responsibility initiatives as a way to extend their reach.
The first step in this process is to determine what employees and managers are truly passionate about. Examples include helping the homeless and offering education to children. The best strategy is to find causes and issues that can prove to be a natural fit. For example, many organizations are working to restore and preserve the natural environment for the next generations.
Keep in mind that these philanthropic endeavors come along with prospective meetings and events, recruitment activities and sponsor and donor meetings. For executives and managers, maintaining a clearly defined schedule can ensure that these efforts remain on track.
By projecting these important values on a regular basis, a business owner can expect to gain loyalty, brand affinity and, in the end, extended business relations. Volunteerism can provide ways for a business to appeal to a widespread consumer base. As a result of these outreach projects, consumers can better understand that the business has a personality, a story and deeply felt beliefs and values that drive each internal decision.
Social fundraising and charitable work generally requires an innovative approach that solves a problem or a concern. It’s important to take a risk and try different approaches in order to settle on the right path. In order to be heralded as an admirable leader in today’s competitive marketplace, it’s important for a company to be involved in volunteer projects so that commentators and consumers alike are encouraged to seek out