Giving back is good for the soul. And it’s not bad for business either. One study reports that 85 percent of customers favor businesses that support a cause they care about. That comes as no surprise to many small business owners. They already have strong ties to their community and provide support when they can. It creates a strong tie to current and potential customers. So if giving back is not part of your marketing strategy, here are five reasons to add it to your plan.
The key to giving back is authenticity. Support organizations that you can believe in. Consider partnering with an organization that complements your small business. For example, a hardware store might donate building supplies to Habitat for Humanity. Or a sports store might donate energy bars to a run or walk event.
Here are five benefits a small business can realize by giving back to organizations in their community:
Small businesses that give back also receive rewards in return. By authentically helping their communities, they can increase visibility, develop more engaged employees and grow their businesses.