With Thanksgiving in the rearview mirror and Christmas on the horizon, gratefulness and giving back are on a lot of people’s minds. The benefits of generosity on individuals are well known, but not everyone is aware that the same is true for organizations. Participating in the community and contributing to local causes is not only rewarding to individuals, but can also lead to company growth and success.
While the importance of involvement and altruism are widely acclaimed, the benefits often seem abstract or intangible. However, there are numerous payoffs beyond the obvious tax breaks. These include:
- Brand awareness and visibility
- Positively shape attitudes and reputation
- Customer loyalty
- Relationship building and networking
- Employee morale and career fulfillment
By being active in your town and with local nonprofits, your business becomes linked with various public projects and campaigns, which creates brand awareness. Acknowledgements of your contribution such as a logo on a brochure, a thank you from a speaker at an event, a link on a website, or a name mention in a radio spot gets your brand out there. In addition, community and charity-related posts on social media often have high levels of engagement, including shares, and have been shown to drive web traffic and sales.
All of this will lead to positive associations with your company, which influence public opinion. This helps to build a strong reputation.
When your reputation demonstrates your commitment to your community, your potential customers will take notice. Social responsibility is becoming increasingly important to consumers, especially younger generations. Not only do they engage more with brands that reflect their values, but they use their purchasing power to show their support, which translates into sales and your bottom-line.
Giving back also opens doors to connect with other businesses, community leaders, and clients in your industry and area. This network can increase your community impact as well as provide new business opportunities.
Like customers, employees also care about the neighborhood they live in. A workplace that actively encourages volunteerism and community commitment can attract new talent. Providing opportunities where workers feel like they are able to make a positive difference gives them a sense of accomplishment, which helps with employee satisfaction and retention.
So, during this busy holiday season remember connecting to your community and supporting local causes is more than just a nice sentiment. It’s a tangible way to support the people who support you. It benefits you, your employees, and your brand. Plus, it does give you that warm fuzzy feeling.