Good Business Sense
How is it that giving your hard earned wealth to charitable organizations is viewed by many as a wise thing to do? Surprisingly, the answer doesn’t come from people who give nothing to charities but from those who actually give away wealth to these organizations. And they do not give intermittently but unceasingly. Some even have an ongoing monthly, quarterly, bi-annually or annual contributions to them. Contributing to charities is truly a commendable gesture and it has its own reward even if the giver does not give due notice.
Good for Small Businesses
The immediate ripple that charitable giving sends is the creation of goodwill between giver and receiver and we can all attest to this result. It also boosts your reputation within the community itself. It is this awareness of your presence as a contributor to a good cause that really marks you and your brand of business in the minds of the public. This giving back to society has significantly changed in that philanthropists have streamlined their approach to target a few (one or two) selected charities and also in their fundraising approaches. Amounts raised from fundraising activities have steadily climbed as a result.
The Marketing Benefits of Charitable Giving
Tangible evidence of the benefits that flow from giving to charities is amazingly numerous and they are all reaped by the giver directly or indirectly, noticed or unnoticed. Some are listed below so that as a small business owner you may be made aware that by taking part in charitable giving you will:
- get noticed by the local media and your action will be announced far and wide.
- be awarded recognitions by distinguished bodies such as the Chamber of Commerce
- be acknowledged and praised on charities’ websites, newsletters and reports.
- enhance your own reputation with clients, workers and community members who will normally regard your gesture as being ‘colossal’ or ‘amazing’.
- open up a great deal of options to charitable organizations for carrying out their efforts in reaching their members and revitalizing their conditions and may
- become active members of society and become part of the buying community
The Bottom Line
It is more difficult to identify and quantify the intangible benefits of charitable donations but there’s little doubt that the very broadcasting of your charitable gesture will result in a backward flow of interest in you and your brand. This welcomed reward, albeit unexpected at times, has happened time and time again to businesses that have given wealth to charities. Who knows, It could happen to your start-up business.