By: First Union
Benefits of Giving Back for Your Company
Are you struggling to find effective marketing strategies? Maybe you want to give to charity, but you want to make sure your company gets recognition for it. Either way, you can use charity as an effective advertising strategy.
Why is it important to use charitable giving as a marketing strategy? How do you pick an organization to support? How do you get the best advertising for your charitable giving?
Let’s talk about using charity as an advertising strategy.
Why You Should Use Charity as an Advertising Strategy
Millennials are the largest living generation and make up more than one-third of the workforce. Why is that relevant to this discussion? Because younger people are more likely to buy from and work for businesses that focus on charitable giving.
Millennials may go out of their way to support businesses that participate in charitable giving. However, people in other generations also choose to support charitable businesses, so you can’t lose.
In short, using charity as an advertising strategy will not just bring you new customers. It can also help you get and keep employees who are devoted to supporting important causes. In both cases, it’s a valuable way to make your business more appealing than your competitors.
How to Decide Which Charities to Support
Which charities should you support, and how should you support them?
You must consider two main things when deciding which charities you want to support.
First, you should be passionate about the cause. The charity should support something you truly believe in. This will allow you to feel more connected to the cause and less like something you “have” to do.
Secondly, you should try to find a charity that is related to your business. Here are a few examples:
- A sporting goods store sponsoring a Little League team
- A construction firm that volunteers for Habitat for Humanity
- A technology company that donates technology to underprivileged schools
There are countless ways you can donate your company’s time or money to a cause relevant to your business. Be creative. The stronger the association, the better.
Can’t find a charity related to your business? Not to worry. Any charitable giving can be effective for marketing and can make you feel good.
How to Make the Best Use of Charity as an Advertising Strategy
This is the most crucial part. What’s the best way to use charity as an advertising strategy?
On the one hand, you risk not getting enough exposure for your charitable giving. On another hand, you risk turning people off with aggressive self-promotion with your charitable giving. It can be tough to find a balance.
Let’s look at some tips to make the best use of your charitable giving.
Encourage Your Employees to Volunteer
Giving money is always welcome. However, having your employees go out and put in time volunteering can make a bigger visual impact.
You can organize a one-day volunteer event and have all your employees wear shirts with your company logo. You can offer your employees paid time off to go volunteer. You can even match charitable donations that your employees give.
Utilize Your Local Media
Making a large financial contribution to your favorite charity? Organizing a volunteer day for all your employees? Send press releases and pictures to your local media.
Why pay to advertise in your local newspaper or air a television commercial? You can get free publicity for your charitable giving, instead. It’s also a different type of media exposure that will attract different customers.
Promote the Charity Within Your Business
Whether you use flyers, donation jars, or something else, make sure your clients know about your charitable partnership. The charity will appreciate you promoting them, and your customers will learn more about your charitable giving.
Ask the Charity to Promote You
If you’re giving a lot of time or money to a charity, they should find ways to promote your business.
They might name an event or Little League team after your business. They might print your business information in their brochures. They might have other ideas about how to promote your business and your support for them.
Most charities understand that even good intentions may come with an ulterior motive. Don’t be shy about asking what they can do in exchange for your support. However, you should never be rude or condescending. You should still be motivated, in part, by a genuine desire to help.
Market to People Who Support or Benefit from the Charity
Many people are passionate about the charities they support. They may be equally passionate about supporting a business that donates to their favorite charity. This can be a great new client base for you.
People who are currently benefiting from certain charitable organizations may not be as able to support your business – yet. If it’s well-known how involved your business is in supporting that charity, they may buy from you in the future.
Volunteering for one event is nice, but it won’t make much of an impact as far as an advertising strategy. The longer the relationship you have with a charitable organization, the better it looks. Think about how good it will feel to announce that you’ve partnered with a charity for the last 10+ years.
Network, Network, Network
You may not be the only businessperson supporting a certain charity. Take advantage of the opportunity to network with other people supporting the same charity as you.
Financing Charitable Giving
Ready to start your charitable giving program today? If you need a loan to start this advertising strategy, contact First Union Lending.
First Union has 9 different loan types. Since using charitable giving as marketing can take a while to show returns, the right loan can make all the difference.
Let our financial experts help you pick the right loan to start your new marketing program. Call 863-825-5626 or click here to get started.
Who knew that doing something that feels good could also benefit your business? Start a charitable giving program with your business today.