Well, giving back and helping others is everyone’s social responsibility and when a company is passionate about giving back to the community, it can help them improve their reputation in the market and their brand image towards their customers. People will respect a business and try to connect with it to help them achieve its goals.
Here’s how returns really help your business:
Donations increase sales:
A study states that when a company actively participates in charity events and charity campaigns, the company’s social awareness makes its customers believe that the company has higher quality products than others. Also, it will build trust in your customers and help increase the sales of your products as more and more new customers will try to join your cause by connecting with your business.
Charitable activities increase customer loyalty:
Well, if your business offers donations to charity, your customers will try to spend more than your business. Offering a percentage of your profits to nonprofits increases the market value of your business and increases the loyalty of your customers. One report shows that loyal customers have a 47% chance of returning to your business and are willing to support your cause.
Donations build a loyal community and motivate your team:
If your company is passionate about helping others and giving back to the community, it will enhance your brand image in the community. This helps to let others know about your products and also helps to improve your image in the community.
66% of consumers believe they will stay with a company that supports the community and helps others in need. It will also motivate your employees and they will enjoy working in a company that focuses on helping others.
Donating to charity increases your brand reputation:
By revisiting your business, you can make a name for yourself in the community and make your brand visible to everyone. When people in the community see that your company is actively involved in donations and charities, they will try to contact your company to support your cause and will also recommend your company to others. This will directly help you improve your brand reputation.
Philanthropy affirms company values:
“It’s enough to indulge and to be selfish but true happiness is really when you start giving back,” said Adrian Grenier, an American actor, producer, director and musician. He is best known for his portrayal of Vincent Chase in the television series Entourage. He has appeared in films such as Drive Me Crazy, The Devil Wears Prada, Trash Fire and Marauders. In 2021 he stars in the Netflix series Clickbait.
Beyond their corporate mission, all institutions must maintain a set of fundamental values. Values inform mission, guide decisions, and help employees and community members connect emotionally with your organization.
Targeted giving and corporate philanthropy programs can help a company strengthen its values by giving back to organizations that live up to those values. Continuous giving not only reinforces these values as your participation increases but can eventually become part of your daily operations.
It’s fun to give back:
New skills, community involvement, and new perspectives can certainly make a company thrive, so it’s worth the effort. It’s also important to remember that coming back is a lot of fun too. Companies that volunteer or donate to society rarely regret it, and once they start, they usually find that they love it and just want to give more.
One of the influential examples of giving back as a leader is Sam Mizrahi, a Toronto-based real estate developer and tireless entrepreneur. Sam is the force behind the spectacular growth of The One, Toronto’s first supertall skyscraper, which is located at the intersection of Yonge and 1 Bloor West streets in downtown Toronto.