The Benefits of Giving to Charity for Businesses
When: 15 Sep 2021
Many of us, as individuals, give to charity – we know it is a good thing. But if you are a business owner, you might not have realised the various advantages of giving to charity as part of your business strategy (in addition to the tax benefits and feeling good).
Paul Labagnara, The Lab co-founder, recently said: “Being a force for good is what Australian consumers are craving right now. They want to know which brands care beyond just ‘business as usual’. …. 83% of Australians believe brands need to stand by their values and principles.”
Increase customer loyalty and sales
When your business is seen to be helping a cause or charity, it can increase loyalty, encourage sales and brand switching. Two-thirds of customers want to contribute to their community – choosing brands that partner with charities is an easy way for them to live their values.
It is not a surprise then, that nearly two-thirds of consumers say they would purchase a product from a company which aligns with an issue they care about. This can readily translate to sales- consumers will choose a product that supports a cause over one that doesn’t.
Corporate engagement with charities gives people a feeling they’re supporting their community and others, they also help to improve the brand’s image – which can sway consumers into choosing that brand over another.
Give your employees a sense of pride
Proud employees are loyal employees. If your business gives to a good cause, it is something your employees can be proud to be a part of, and can increase their morale, especially if the business is giving to a cause that is close to the heart of their employees. In addition to regular or even periodic giving, some businesses may make giving to charity a larger part of their company culture – for example, giving employees paid leave to undertake approved volunteer work.
To donate or to find out how your business can fundraise for Ardoch, go to https://www.ardoch.org.au/become-a-corporate-partner/