Your Philanthropy Legacy is your Marketing Plan
The hustle of running a business is sometimes so time-consuming that we put aside the bigger picture that we started out with in order to perform the day-to-day tasks that must get done. But since you are the person that dreamed up your business and created it to fruition in the first place, you know how important it is to take a step back and reassess your place in the world, your growth, your philanthropy, and ultimately your LEGACY.
Philanthropy offers us a WIN-WIN situation when considering a mode of marketing and where we can leave our stamp of grace on our employees, vendors, communities, and the world.
What is a Company Philanthropy exactly? A philanthropy is defined as a company giving to a cause, whether it be through charitable donations or giving their time and resources. Although many corporations get the credit for doing philanthropic work (Yay to their $$$ P.R. Team), many small businesses don’t have the time or resources to express all that they actually give and are involved in with their community. Fortunately for the businesses that have put time into marketing and fulfilling their philanthropy, the rewards have been fruitful.
So, what is your company already giving to its community? Is a philanthropy program something your company already has in place? Yes? then GREAT!!! You need to create a marketing program to share all the amazing things you do in the world! If not, I’m going to make this clear and simple: you need one.
Here are 6 reasons to start creating and living by that philanthropic legacy you’ve always dreamed of that will actually help boost your earnings.
1. Establishing an Identity and Purpose
For many people, a business that lives within their purpose gives people a reason to choose that company’s brand over another brand. Companies like Lyft, Burt’s Bees, Dove, and Whole Foods have all focused a lot of time and money into fulfilling their purpose and standing by their philanthropy in order to make a valuable contribution to society. In order to establish where you fit in, think to yourself: What are you passionate about? Education? Homelessness? Environmental Conservation? Health? How do you want to help your neighbors? What do you want your legacy to be? There are so many different charities all focused on different causes. Find something that feels right for you and your business, or acknowledge what you’re already doing, and focus on using this to market the identity of your business. By establishing a purpose, people feel a need to help your cause knowing that some of their investment into your company invests in a good cause.
2. Networking Opportunities
Many organizations run events with large numbers of volunteers. I attended an event for an organization called L.A. Works that was focused on building up a local community while working at homeless shelters and schools in need. We painted murals, planted flowers, built benches and put together care packages for the shelter residents and local students. Target was one of the companies that decided to donate to the cause with their time. They sent over a group of volunteers in matching red Target shirts all eager to work on these projects. Not only did this show the 1000+ volunteers how even outside of their store, they were still trying to make a difference in the lives of their neighbors, but they were a united team of givers. Not only was this team talking amongst each other but they were cheering, working, and spending time with other volunteers that were there for the cause. It allowed their team an opportunity to speak to locals outside of the transactional world. Customers are the core of your business, so this is a great way to engage with the people who keep your business running in the first place.
3. Public Relations
My previous example demonstrated how Target made a positive PR move by actively participating in this event with over a thousand people in attendance. Although it was a chance for them to network, it also boosted Target’s visibility within the community as a company that lived by its philanthropy.
4. Employee morale
A recent study of more than 2,000 individuals found that “nearly two-thirds of people between the ages of 18 and 34 were at least somewhat more likely to want to work for a company that gave to charity than one did that not”. Not only do employees feel better about working for a company that is active in making a difference, but especially in this generation, employees are likely to stick around if there are common values and a strong foundation that the company is based on.
5. Respected leadership
Leaders that make a point to improve the lives of their employees and the people around them are likely going to be respected to a higher degree than those leaders who are only focused solely on the profit they are reigning in on.
6. Trust and value of mission statement
Having and sticking to your mission statement establishes trust. It gives your brand a purpose and a REASON for people to trust you. You stand for something other than yourself, and that alone is a respectable trait.
So, decide on your legacy, whether it be through corporate funding, volunteer work, product donations, partnerships, or pro-bono work–every company should reassess their role in the world to make philanthropy a part of their mission and thus grow their business in a sustainable fashion that helps not only themselves but also the world around them.