How to Make Charitable Giving a Winning Business Strategy
When you show that your business gives away a portion of its income, it flies in the face of the idea that businesses only care about profits.
Outside of the horrendously greedy, there are very few people who would argue that generosity is not a good value to have. When you see someone give money to a homeless person, it leaves you with a sense of hope in humanity. Even if you’re the overly cynical type, you might think that they only did it to look good. Either way, it is undeniable that charitable giving and acts of generosity are universally seen as something that looks and feels good.
Charitable giving at the individual level is important, but it takes on a whole new meaning and effect when done at the organizational level. Most people, by default, assume that businesses are only out to make money. There’s some truth to this, but value-driven business owners who want to make the world a better place are not just in it to make a buck. In any case, it’s not always easy to convince the average consumer that your business has higher values than the almighty dollar.
This is why charitable giving is actually one of the best business strategies. Sure, social media, SEO and email campaigns are all great, but none of these methods will actually prove that your business cares. When you show that your business gives away a portion of its income, it flies in the face of the idea that businesses only care about profits.
A Morning Consult poll concluded that young people prefer to frequent businesses that give to charity. However, it’s not just about improving your image among young people. People will generally see your business in a positive light when you give a portion of your profits to charitable causes.
Be transparent about your giving
It’s easy to say, “We give 5% of our profits to charity,” but this means very little. Are you talking net or gross? What charities are you choosing? Do you have a vetting process in place to ensure that your money is actually being put to good use? And the charities you choose — do they reflect the interests or passions of your customers, clients and…