As a business, or business owner, it’s important to consistently stick out. Having a competitive advantage over similar businesses or organizations can set your brand apart, and present a positive image to potential customers who might be researching your brand. In a progressing economy, a business’s performance can be based off of a variety of factors- so ensuring your organization is well rounded is the first step to take for a successful business model.
As a business, it’s great practice to show support for causes you believe in. Whether or not your business is located in a small suburb or large city, advocating for a cause can help your business to stand out amongst the crowd. Showing support sometimes doesn’t cost anything either. For smaller firms or organizations who may be constrained by a small budget, there are options that are available.
Volunteer- Volunteering is an excellent way your business can become more involved within the community. Many local organizations, like Habitat for Humanity, or local food banks are always looking for volunteers to help them with day-to-day tasks. Additionally, volunteering is completely free and doesn’t cost a business any money.
Advocate for a cause- Does your business have a particular stance on a current event? Though it may be viewed as controversial to some, advocating for a change or stance in regards to an event being reported in the media can gain more customer support and recognition for your business. Furthermore, showing a particular viewpoint won’t cost your business any money. Some ways to show support would be through signing petitions, posting about your stance on social media or blog posts, and educating your customers through email blasts can be great ways to show your stance on an issue. For outsiders who agree with your stance, it can be a great way to develop a deeper relationship and understanding for your business. Again, this won’t cost your company a dime!
Donate- Though donating to a foundation or charity can cost money, your business doesn’t have to make sizable donations to make an impact within society. A small donation of one-hundred dollars or less can still help to raise funds for causes or charities in which your organization feels passionate about. Additionally, donations can help to expose your brand to other organizations or charities that have similar advocates or customers. Plus, letting your customers know you made a donation to a charity (regardless of the size) that is similar to the niche you are within can build credibility among your customer base. Share this information on social media and blog posts- and let the outsiders know what you are doing behind the scenes to make the world a better place.
Long Term Financial Impacts
Customers in today’s society feel more motivated to invest in companies that strive to make an impact on their communities. Without the support of local businesses and organizations, the functionality of many local charities and nonprofits may be limited. Having the support of industry leaders or organizations can successfully impact our communities as a whole.
How can this impact the financial situation of a business? As discussed above, customers will feel more comfortable doing business with an organization that advocates for a cause and invests in their community. Customers have a higher sense of connection and partnership with organizations that are working with community leaders to improve the quality of life within the communities where they reside. Additionally, it helps customers to feel a stronger connection with your firm, leading to a deeper relationship. Ultimately, customers who have strong relationships with organizations are more freely willing to buy products from these specific businesses, or conduct business with them. In the long term, this can lead to a potentially profitable business scenario.
As you can see, there are a multitude of ways in which a business or organization can show support and raise awareness for global issues. Most all of these ways involve little to no out of pocket expenses, and the impacts can be significant in the long-run. What are some ways in which businesses in your community become involved, and how do you think their profitability outcomes are as a result of the involvement?