No matter the type of business you have or how many customers it serves, you’d probably like to progressively branch out into new markets. Having a growth-focused mindset can help the company thrive, even in challenging business landscapes.
Although it’s not an option that some people think of immediately, making charitable giving a priority is an excellent way to stimulate growth and bolster a company’s reputation.
You Can Have Substantial Impacts Even With Small Dollar Amounts
Perhaps your business has not made charitable giving a point of focus in the past, or maybe your company is still a startup, and you worry that there aren’t enough profits coming in to warrant the substantial donations that seemingly make the news headlines most often. In either of those cases, don’t forget that small-dollar donations matter and help charities prosper.
Besides those modest donations directly assisting the charities and the people that need them, charitable giving could help you make connections with community members while spreading the word about your business. Consider the example where you own a web design business and start talking to someone who volunteers at a local soup kitchen where you recently donated some money. You might find out that the person has been wanting to have a website for a while but wasn’t sure how to start.
Many charities specifically appeal to people who want to help but cannot manage large donations. They give examples by explaining how small donations can feed a family, help someone attend school, or give someone an income-generating opportunity that helps them better their situation.
Event Sponsorship Is a Mutually Beneficial Kind of Giving
Supporting a charity is also good for your business because it enables exploring a new kind of marketing. More specifically, you could sponsor an event happening in your community that benefits a good cause, such as a golf tournament, gala dinner, or a concert. Those events usually have printed programs or booklets that tell attendees about the event and the charity being helped by it.
Concerning your business, the sponsors are usually listed in the printed materials or displayed throughout the event in other ways, such as on banners. If you’re thinking about sponsoring an upcoming event, be sure to ask how doing that would improve visibility for your business.
Depending on the nature of your sponsorship, the people associated with the event may also make verbal announcements featuring your company’s name and perhaps other basic information about it, such as the kind of business it is and your website address. All these measures help increase awareness for your business, increasing the chances that you may get new customers after aligning your entity with the event.
It should be easy to see, then, how event sponsorship aids businesses and charities. The charitable organizations get the support they need to help their plans go smoothly, while companies can take advantage of the awareness-raising perks.
Charitable Giving Encourages Positive Name Associations
When some businesspeople have enough resources, they open community associations that help people in the neighborhood. One example is the Sullivan Community Space. It’s operated by Neill Sullivan, who has a successful career in the real estate sector. That building serves as a community space that offers fulfilling things to do, including martial arts classes.
Sullivan’s decision to get involved in something good like this means that the name associations go beyond real estate. It’s a good thing to have people think of a name when real estate comes to mind, of course, but it’s even better if they also remember someone’s involvement in giving back to the community.
It should now be clear that there’s no reason for your business to delay giving to charities. Even if you start small, the efforts pay off and give the impression that you’re trying to have bigger impacts beyond running a company.