Social responsibility doesn’t solely apply to big corporations. Even small businesses can do something to give back to causes they feel passionate about and to the communities they reside in.
In fact, giving back to your community can actually help your business.
We can name a few reasons why your business would benefit from playing a role in helping the community:
1. Build Unmatched Recognition and Reputation Within Your Community
Consider the businesses that are institutions in your community. The companies that appreciate their commitment from their customers are likely the same ones that sponsor childrens’ sports teams, and offer their support when schools and civic clubs are in the middle of a fundraising season. Not only do they enjoy backing their customers and community, they’re also recognized by the public for it.
2. Improve Your Community for Employees and Customers Alike
While we acknowledge the marketing advantages of businesses giving their financial support, another motivation would be to make their community a better place, not just for your personal circle of friends and family, but also for your employees and customers. Think of it as you receive what you give.
Some examples of improving the community would be providing funds for local hospitals, libraries, colleges, and other social services.
3. Bring in Talent and Clients
Increasing your presence in the community will help your business attract outstanding talent. People are naturally drawn to esteemed companies when they’re seeking work. If your brand is known for giving back, you may carry the same mark of applicants as your larger competitors due to the value of working with a team dedicated to making life easier for others.
The same concept applies to the fact that customers are more picky about who they purchase their goods and services from. Most people would prefer to pay a bit more to aid a small business with a positive reputation for generosity and community-oriented principles than support an impersonal corporation with headquarters out of town.
4. Open Doors to Solid Networking Connections Throughout the Rio Grande Valley and Beyond
Whether you volunteer time or money, you’ll have an opportunity to socialize with other donors. Successful people with notability and influence usually take part in charitable work. This is your chance to make connections with anyone who could potentially help you expand your business.
To make the most of networking opportunities, search for charitable events including golf tournaments and galas around McAllen, Harlingen, or Brownsville. Boards or committees are also worthwhile places to share a common desire with business people that you could build a professional relationship with.
5. Amp Up Your Social Media & Other Marketing Efforts
We understand the importance of posting fresh content on our social media platforms, but sometimes it can be tedious to constantly find images, news, and information. If you and your team partake in community charities and events, it will give you quality content for daily posts.
Show your support for local causes by volunteering or making donations, as well as sharing updates on their events, fundraising intentions, and activities. And remember to share images of you and your team in action. This will allow others to see your business as being frequently involved in your community.
6. Giving Back Will in Turn Make You Feel Good
There are psychological and physiological benefits to giving. One study from the Wall Street Journal on charitable giving found that the part of the brain that controls cravings and pleasure rewards saw activity when donating to honorable causes.
According to the Science of Giving: An Experimental Approach to the Study of Charity, there are a couple of ways to boost the level of satisfaction that comes with philanthropy, which includes:
Supporting causes that generate tangible results (e.g., a Habitat for Humanity housing project) that are near their goal.
Donating smaller portions more frequently (e.g., showing support for kids’ sports teams or school fundraisers) will give you and your team the feeling that you’re making more of a difference than if you were to send out one large check each year.
Contributing without receiving anything in return, like free advertising, a water bottle, or a T-shirt.
Growing your business that focuses on giving back to the community may come with a lot of the above benefits, but doing so ultimately drives more business to your establishment. People want to do business with thoughtful people, and this interest may even increase revenue.
But the increase in business may come with more time spent on your business. You may need outside help to determine just how to manage improved cash flows and gain more time and freedom to yourself.
No matter what your business or your entrepreneurial career is, the focused business coaches at ActionCOACH RGV have the knowledge to help you do just that. In fact, joining Founders U gives you the opportunity to learn more about giving back, its benefits, and anything else that is required to achieve the results you desire.
Get millionaire business tips from ActionCOACH and learn key things to improve your business along with other inspiring articles.