Being altruistic usually means putting the needs of others ahead of your own needs. So discussing how philanthropy can help to build your brand almost comes across as being hypocritical. But being generous and charitable doesn’t mean that you can’t beat your chest a little, especially when it comes to being good corporate citizens and leaders in your community. Here are nine powerful ways that being charitable can positively impact your community, employees and marketing efforts.
Connecting with your Audience’s Sentiment
Having a cause that you’re passionate about and actively supporting is good for connecting with your audience and bottom line. You’re not going to connect with everyone, but relating on a social, emotional and economic platform can help you win over fans and customers.
Turning Your Employees into Brand Ambassadors
Being profitable is important to employees because your employees wouldn’t earn an income without profit. Appealing to employees with a corporate cause you support helps to create pride throughout an organization. They will promote your brand to potential customers and potential future employees. Not only will it help attract future talent, but it also retains a vocal and robust workforce. It helps to make your employees’ efforts more meaningful.
Being a Community Leader
By helping to connect to a community-based cause, also helps to define a company by its geographical generosity. Being a strong local voice helps to promote connectedness and consciousness throughout a community or city that it serves.
Identify Marketing Opportunities
It’s important to be subtle yet specific. There’s a vast difference between shameless self-promotion and voicing pride in what you’re trying to achieve and, more importantly, why you are trying to achieve it.
Create a Strategic Association with a Non-Profit
Aligning yourself with a non-profit organization helps to create visibility, specificity and relatability. While supporting a cause like youth mental health is essential, supporting a charitable organization like The Maddie Project is a community-based charity that supports youth mental health. The not-for-profit organization will likely promote the contributing company’s efforts, thus deflecting any accusations of the organization doing things for anything other than charitable purposes.
Adopting Philanthropy as a Core Value
Adopting philanthropy as a core value of an organization also promotes employee engagement and attracts like-minded employees. In my last business, we had philanthropy as a core value. Still, we had a few individuals that would roll their eyes at any charitable work that we had decided to participate in and engage our staff. Whereas most of our team were enthusiastic about participating, some were noticeably caustic about participating. An additional point would be not to force your staff to participate; ten very eager staff can carry the weight of many disinterested staff.
Being Charitable is not Something you can Delegate or Outsource
Championing a cause needs to come from the top down. The heavy lifting can be delegated to employees, but embracing a charitable cause needs to come from the senior management group. The direction of the organization needs to be congruent with the ownership sentiment and support. This applies to all charitable initiatives that the organization takes on. Without this in place, it won’t be easy to gain momentum and produce sustainable results. This is why it’s so critical for the charity to embody the ownership’s ideals.
Should You Focus on Bottom Line vs Corporate Social Responsibility?
Focusing your corporate efforts on charitable work because you think it will positively affectmpany’s bottom line is not the play here. Companies that take this tact will be disappointed with the results. Embracing a corporate charity is an extended play for those hoping it will benefit their bottom line. The desire to help needs to come from a place that is transparent and genuine. Doing something because you want it to yield a positive ulterior outcome will be criticized by the outside world for being disingenuous and self-serving.
A company’s efforts should start small and increase its efforts as the profitability increases. A company that works exhaustingly on its charitable efforts without first focusing on its bottom line is reckless and irresponsible.
The Bottom Line
Supporting a charity through your organization can be very rewarding. Creating a culture of giving back will endear you to a specific type of employee and will help to turn your employees into brand ambassadors. They will promote your efforts to their friends, family and the outside world. In time, customers will be more drawn to your products and services if you embrace many of the same ideals. Philanthropy can help build your brand, but it needs to come from a genuine place of giving and not benefit the bottom line openly. Charitable efforts should grow in conjunction with your bottom line, but not despite the bottom line.
If all these factors are considered, supporting a charity that mirrors your company’s values can build your corporate brand.
Through the bankruptcy of his first business, a strong balance sheet means nothing unless you can get the money out of your business and into your hands personally, tax efficiently, and creditor protected. Chris helps and coaches business owners to avoid a similar fate as he suffered in his first business.
Through several clever strategies, he illustrates how these little-known vehicles can get money out of your business efficiently, build your corporate brand and create a legacy through charitable means to help make a meaningful difference in the lives of others.
Also, he has seen the impact that mental health can have upon success within your business and your life and how the two are on a constant collision course. When Chris became aware that Entrepreneurs struggled with their mental health at more than twice the rate of average adults, he realized he wasn’t alone and made it his ambition to understand why and do something to help. His business, The Finish Line Group, aims to help support the entrepreneur’s financial, philanthropic, and emotional needs.
Chris’ Why Statement remains, “To openly communicate the lessons learned from my past so that others will thrive in their lives, minimize their setbacks and leave a positive and lasting legacy.”