Published On: Thu, Nov 10th, 2016

How Charity Is Good for Business

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By Contributing Author

Charity and business seem like polar opposites– one involves giving money and the other making money. However, the concepts of business and charity can go together. If you are passionate about your business, you may think of it in terms of providing something that people cannot get anywhere else and as a form of giving. In turn, charities are often run like businesses and require disciplined budgeting and providing services for people who need them. When viewed in this light, charities and businesses are not necessarily opposites and can be combined well into one model.

Working Towards a Common Goal

A business owner understands the value of partnerships to maximize results. You may find it helpful to partner with the charity that operates in a field related to your industry. For instance, if you produce medical supplies, you can establish a relationship with the charity that provides medical care globally to victims of natural disasters. You could donate some of your equipment towards this charity and publicize the information on your website and social media page. Your partner could also list you as a sponsor and make people aware of your business.

Charity Enhances Your Brand

When a charity lists you as a sponsor, it can make more people aware of your company. In addition, the fact that your company is listed as a sponsor of the charity that people care about creates a positive impression in the minds of potential customers. Sponsorship serves the dual purpose of familiarizing people with your products and giving a human side to your business through the support of an important cause.

On your marketing materials, you can highlight the fact that your company contributes to a certain charity. An effective option is to not only mention that you give a certain amount of your products to a charitable organization but that you will donate a portion of every sale to the cause. This strategy can combine shopping with giving, and can imbue the consumer with a sense of purpose and meaning. These strategies also can increase the reach and power of your brand by creating a positive association between your product and charity.

Improving Morale
Human resources are valuable to your company and can enable it to achieve its goals. Morale and a teamwork among employees are essential for creating a work environment where people can share ideas and function effectively. Many companies sponsor get-togethers several times a year to enable employees to participate in enjoyable activities that help establish a rapport.
Some of these activities can involve competitions that refine communication and cooperation. It may be a good idea to consider having your employees participate in charitable events such as a run, walk or bike-a-thon to raise money for charity. Other cooperative events involve volunteering or dealing one-on-one with children or others in need. Cooperating and communicating outside of the work environment for causes that your employees care about can be a great way to foster teamwork and make your employees feel that they are making a difference. The Donald Burns foundation and other charitable organizations may oversee events, such as packing meals for the poor and the sick.

Tax Advantages

Taxes can eat up a significant amount of your revenues and can be a frustrating downside to doing business. Consider the tax advantages of donating to charity and look into tax-deductible donations. Giving money to an organization can be a way of marketing your brand while saving on taxes. You can also give your employees the opportunity to make these donations as a group. Speak your accountant about ways in which charitable donations can be a better use of your taxable revenues.

Reaching People

The name of the game nowadays with marketing is reaching people whether it is through social networking or lively discussion on a website. The value of promotional materials is that by giving something away, you can obtain something valuable, such as potential customers’ email addresses or a like on Facebook. Much of marketing nowadays depends on delaying gratification by making initial contact and interacting with potential customers through various channels. Partnering with a charity enables a business to reach a whole new group of people for marketing purposes. When they share their interests and the information with you, your company can provide something to them the form of a product or service.

Be Good and Do Well

Most people are overwhelmed with information nowadays and feel bombarded. As a result, many of the potential customers you’re trying to reach may have already tuned out of messages they don’t care about. The best way to connect with people nowadays is to get them to care about something. This is where charities come into play and their ability to make people have an emotional tie to your product and service. Linking your brand with a high-profile cause can help your company succeed and give back.

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