“Businesses thrive when they partner with or invest in human charities.” – Katie Coates
When leading author, Katie Coates, said that businesses thrive when they partner with or invest in human charities, she was every bit right.
The evidence is overwhelming; small to medium businesses reap numerous benefits from partnering with nonprofit organizations.
Yes, the two run antiparallel to one another. By definition, a business is all about finding a niche, growing its pipeline, closing sales, and increasing revenue.
On the other hand, a nonprofit is just that: not for profit – an organization that utilizes its revenue to serve a social cause, rather than distribute profits among its stakeholders.
And yet, these two can exist symbiotically. The partnership is mutually beneficial. While the business increases engagement and loyalty with its existing customers and reaches new prospects through genuine customer acquisition, the nonprofit increases the breadth and depth of its impact on the lives of individuals in need.
Of course, this is just a glimpse of what this symbiotic relationship can have in store for both entities. In this article, we’ll illustrate how you, the business owner, can achieve greater business goals by partnering with a nonprofit like Generosity.org.
1. Employee Engagement
Businesses play a key role in changing the world by embracing the power of social innovation. It can make a huge difference, not only on their branding and reputation, but more important, in their employees and culture.
According to a February, 2020 Gallup research study, 52% of U.S. workers fall in the “not engaged” category — those who are psychologically unattached to their work and company and who put time, but not energy or passion, into their work.
Employees most committed to their organizations put in 57% more effort on the job and are 87% less likely to resign than employees who consider themselves disengaged. 89% of executives found a positive correlation between their volunteer/giving program and employee engagement and companies that report greater employee engagement generate up to 2.5x more revenue than those with low engagement.
Social Innovation strategies can generate a massive impact on employee engagement and talent retention, as well as their branding, revenue and reputation.
Following the same footsteps, you can create a sense of greater purpose in your employees. When they see that their work is bringing a phenomenal change, they’d be your advocate on every forum. That’s a key aspect of enhancing your employee engagement strategy.
2. Brand Awareness
Brand awareness is synonymous with business growth.
Forbes magazine says: corporate philanthropy isn’t new, we’re in the middle of a do-good renaissance where brands give back. But as brands, we know philanthropy is about more than doing good in the world. Philanthropy increases brand loyalty when you practice it genuinely. Giving back increases engagement by sharing a mission and purpose with your customer base.
If you’re targeting a younger demographic, you need to embrace corporate charity programs. Your customers expect nothing less. Both millennials and Gen Zers grew up in a world that encouraged recycling and social good. Instead of donating money directly to causes they care about, shoppers under the age of 40 prefer to give back through where they shop.
Appeal to more customers, encourage lifelong brand loyalty and do a little good with a smart corporate giving program.
The publicity your business gets from partnering with a charitable organization translates directly into brand awareness.
3. Brand Advocates
Millennials seek ways to make their purchasing reflect their values, says Inc. magazine, Customers pay attention to the way brands react to social and political issues and are ready to boycott when a company’s values appear to conflict with their own, or instead to line up to buy to applaud a company’s activism.
Never before has it been so important for companies to make their values clear and take stands. In a polarized world, taking a middle ground doesn’t work well anymore.
According to IO Sustainability’s research, customers of companies integrating CSR fall increasingly into two categories: “aspirationals,” who think of a brand as part of the cultural fabric they identify with (a company today can hope to attract 39% of customers into this category), and “advocates,” who proactively promote a brand and support its values (a successful company can count on up to 20% of its customers as advocates, helping the brand on social media and with peer referrals).
Organic customer growth is yet another benefit this partnership can render to your business.
4. Bottom Line
Charities today do everything they can to help you achieve your business goals.
Companies fully integrating CSR, reports Inc. magazine, were able to increase sales and prices.
According to the research, companies sticking to a strategic roadmap of integrating social impact into their business were able to:
- enhance sales by as much as 20%
- increase productivity by 13%
- reduce employee turnover by half
- increase the company’s share price by up to 6%
- reduce financial risk, the cost of equity, and the cost of borrowing.
One thing is clear; businesses want ROI. Partnering with a nonprofit like Generosity.org will always deliver a positive return on investment.
5. Local Reach
When an organization functions with social impact, it sends a message to the greater community that it recognizes it’s in a position to help society, and is acting upon that acknowledgement.
Active CSR positions your organization as a leader in the community, and a positive role model for others to follow suit. Besides, when companies stand out for the good work they’re doing in the community, the media gains interest.
Local decision-making bodies are one way or another associated with charities. Your charitable partnerships with any of them could serve as an opportunity for you to reach out to them. Once you do so, you’ll take your business from the troves of unknown brands to the ones that are recognized by people who matter in your locality.
This translates into better relationships, and ultimately a firmer footing for your business in the local governing fabric.
How Generosity.org can help you?
Generosity.org has served more than 500,000 people in 20 countries by funding more than 800 water projects. These are still humble beginnings for us because 841 million people still lack access to basic drinking water. Our goal is to completely eradicate water depravity, one community at a time.
However, in this journey, businesses like yours can make a difference by supporting us; standing with us.
And, besides all the benefits above, by partnering with us, you can take your business to new heights.
● The CARES Act raises the annual cash gift limit from 10% to 25% of corporate taxable income.
● Repurpose your mission or even your entire business model in a way that appeals to your customers, like many businesses that have partnered with us.
● Get much-needed support on social platforms – the support that propels your business ethics for the better and establishes you as a responsible brand.
● Select from three defined packages starting from just $1K per quarter. Benefits include media support to insightful fundraising strategies.
Partnering with a nonprofit has never been as advantageous as it is today. The world is undergoing a myriad of changes from health, to culture, to economy, businesses must evolve and adapt. The number of businesses and quality of businesses are in a state of major flux. Customers are scrutinizing the brands in which they do business with. Your competitive advantage lies in the way a consumer “feels” about your organization. Give your customers a reason to look beyond your competitors and choose you as their long-term solution.
Partner with us; end the water crisis one community at a time; win loyal customers. Visit us at generosity.org/partners to learn which option fits your brand best.