Business or a brand that supporting a cause is good business which is enough to reflect on the fact that how people are more inclined towards a brand or brands that support a charity or cause by a business can help both community and business in their growth.
According to research, it was brought to light that more than ninety-one percent of consumers believe brands should do more than make a profit, they should address social or environmental concerns too, according to a study from Cone Communications.
One of the great examples of charity givers is Moez Kassam, a Canadian alternative asset manager. As co-founder and Chief Investment Officer of Anson Funds, Moez is also Co-Founder and Director of The Moez & Marissa Kassam Foundation which provides food and shelter, healthcare, education, immigrant integration, and arts and culture initiatives locally and globally.
Today at least more than 75 percent of businesses are responding and participate in “cause marketing,” as it’s called, which is the act of supporting a charity and marketing it to consumers.
Here are five ways charitable giving helps both Your community and your business.
Your community gets support:
When businesses team up with local charities, our business starts to move in a direction that makes more of a positive impact on the community and gives a positive reaction to our business. That can be anything from supporting an agency working for any organization like animal adoption or some regional hospital that fights cancer cells or some other dire diseases. By supporting a charity your business can get more favor and support from the community that will help you in business growth.
According to Cause Marketing Forum, such charities have received two billion dollars in 2016 only because of cause marketing.
Your business builds trust and loyalty:
The goal of every business is to create a bond and strong relationship with customers that establishes trust and encourages loyalty. According to research, that brings in the light of the results that ninety percent of consumers who trust a business that supports and addresses social or environmental issues, and 88 percent of customers say they’ll reward a business that supports a cause by being becoming a loyal customer, helps both Your community and your business, and build trust in customer opinion that will be beneficial for a business to build trust and loyalty within the community and its customers.
Your business can attract new customers:
By supporting and participating in charity causes your business can attract new customers and increase customer bands wider around the community. When a business is supporting a cause, they is likely to grow business and build a larger customer base that will indirectly help the business to grow. As a survey it is seen that more and more consumers are willing to switch to a business brand and those are helping and working for a cause, business and community can leverage this by educating the consumers about the cause and our commitment to improving the area in which business brand is targeting for bringing about a positive change, and by doing so the business can set themselves apart from the rest of our competition.
Improving Your Community:
Today when a business support community-based organizations like schools, hospitals, and local non-profits, welfares by doing this business help community a better place for all. Where everyone can live and work and prosper in a healthy environment. Doing this practice, as a result, will not only benefits them but also benefits the community and our business, employees, and our customers.
Businesses can get more and more opportunities to meet and interact with the leaders in the community who tend to involve and participate in charitable institutions and drives. By participating in such charitable organizations and events our businesses will introduce ideas by interacting with local officials and community and business leaders of which benefits can be shared by that organization as well as our business.