4 Reasons Your Business Should Give Regularly to Charity
“You are in business to make money, not to do charity. Your entire hard work is not to be wasted on some random scheme”. Well, those maybe valid considerations for social impact investing.
But according to Maulik Patel, CEO of CouponsMonk, “We involve ourselves in a lot of charity work not only because we love the community and really want to give back, but because businesses can buy a great deal of goodwill from the communities that they serve. Your business becomes more attractive…it’s a marketing strategy of sorts.”
Realistically, the way that businesses make money is by serving people. Think of it, no one ever hands you a penny for marketing products that don’t serve their needs.
People are emotional beings, whatever has a noble connotation to it appeals. People’s perception of your business is the only image your business has. The point is: giving to charity regularly is good for business. To give you a better sip, below are four (4) reasons.
- Perception is everything.
Perception is reality. The funds invested into printing business cards, customizing business materials and giving the business location a facelift, are all efforts to invoke a perception of your business. Don’t tell me you didn’t know that!
People who consistently give to charity are perceived to have the interest of the community at heart. Think of what such perception can do for your business. It might not be one of those usual methods of promoting your business, but perception is at the center of all marketing efforts. People buy from who they perceive offers the best value.
- Good on fleek.
Everything written about giving to charity is good. For a start, it makes you feel good as the business owner. There is this unexplainable superman feeling that comes with engaging in charitable endeavours.
Giving back to the community provides good publicity for your business. These days, charity organizations are all over social media. In a quest to entice further support, they post donations on their social media handles. So for every time you give to charity, you business names gains publicity.
Generally, employees prefer to work in organizations that place a premium on charity. A deep sense of commitment is initiated, when the employee knows that part of the business proceeds is going to charity. For the employee, “I am not just working for this business, I am working for the community”.
In some countries like Canada, giving regularly to charity entitles you to charitable deductions on your income tax. Small businesses enjoy tax deductions for charitable giving, survey says about 42% of small businesses do.
Flip the coin any side you choose, giving to charity is just good on fleek.
- Signatures on Marble.
Every project your business undertakes has your signature on it. An investment in charitable giving can be tweaked into more productive, cost effective and creative projects.
Aside just giving out a lump sum of money, volunteering for community projects is also a great way of littering your business signature on the streets. From time to time, NGOs come up with initiatives ranging from creating awareness to executing projects. You can volunteer your business services for such projects. Presence alone marks signature.
I would have you know this: it is best to invest in local charity. You are a business in Africa, but your charity efforts are focused on the desolate lands of the United States. Well, that may not be an entirely bad idea, as it engraves your signature on a global project. But your customers would prefer to see how your business contributes to the development of the immediate community. Charity still begins at home, you know.
- Network is Net Worth.
Mosquitoes would always fly together. Ok, I maybe am joking. But the point in making is that water would always find its level. In plain English, like minds would always attract themselves. Organizations involved in philanthropic activities would attract themselves, most of who are big organizations. Sharing a platform with them puts you in a close footing with them.
I remember having the logo of my brand and that of the big brands I respect, appear on the same billboard as sponsors of an annual community project.
Businesses that sponsor similar philanthropic projects typically connect at that level. Need I say that such connections are priceless for your business? Connecting at such level breeds trust, mutual regard and creates avenue for profitable sharing of ideas. Your network in business affects your outcome.
Before this discussion on the sofa becomes a lecture, I would have you know that you never lose by giving to charity. It is good for business, and whatever is good for business is worth doing regularly.
Cheers to business growth!