Facing not only your local competition, but also the big dogs, the competitive landscape has never been so congested. Add on to this the reality of an industry that doesn’t naturally draw attention-- creating a “buzz” to capture even 30 seconds of your potential customer’s attention can feel like nothing short of a magic trick! But, the good news about goodwill, is that it’s affordable and people love acts of kindness.
So if you can’t be sexy or groundbreaking, I highly recommend being charitable.
The Impact On Growth
The realization of the impact this can have on a small, local business came to me after working with a new company that launched near the end of 2016 and recently won - by popular vote - the Best of the Best in their industry within their community.
Looking at what made them different from other clients in similar situations I noticed one of the biggest differentiators was the amount of community service they dedicate themselves to throughout the year. Examples of this include:
Establishing a memorial scholarship
Finding fun ways to celebrate/promote breast cancer awareness month
Through these efforts they worked towards not only establishing themselves within their community as a trustworthy and good company - but built a reputation based on compassion.
The Return On Investment
The investment this company made in community service allowed them to distinguish themselves from their competitors. In a study conducted by Cone Communications and Echo Research, it was discovered that 82 percent of U.S. consumers consider corporate social responsibility when deciding where to purchase from.
The positive effects of having a dedication to charity can be seen across every industry and spans from Fortune 500 companies to small startups.
Take Toms Shoes, for instance, they created a buzz in a somewhat monotone industry by pairing their product with a philanthropic cause-- and not only stood out but took off. In fact, in an article featured in Business Insider CEO Blake Mycoskie talks about how being charitable actually provides a competitive advantage.
Five Philanthropic Opportunities for 2018
The giving doesn’t always have to be money. Some ways to integrate charity into your business this coming year could include:
Provide your employees a day off to do community service
Offer free education to your community
Combine a donation to a designated charity with your services
Coordinate a collection or can drive in your office
Provide free services to a local organization
In the end, it’s easy to see the return on investing in goodwill. For more charitable inspiration check out our Facebook Page to see the great things we’ve been up to within our community!