Culture, Engagement, Branding

Why Companies Should Be Dedicated to Philanthropy

Giving back to the community is a personal initiative for many, but it should also be at the strategic core of every business. Organizations of all sizes can benefit from the opportunities that philanthropic activity generates.

For example, a 2017 study found that 78% of Americans prefer companies that address important social issues and another 87% said they would buy products from a company that advocated for the issues they care about. Stepping out of the office and into the community is a great way to create visibility, a positive brand image, and numerous other benefits for your business, including a healthier bottom line.

With consumers more passionate than ever about businesses that give back, here are some of the reasons it can help elevate your company to the next level along with some examples from personal experience.

Enhancing Overall Brand Image 

When companies take the time to get outside of their offices and volunteer in the community, positive exposure is generated, which leads to an elevated brand image. One way to accomplish this goal is by attending philanthropic events in the community. Rather than just cutting a check that no one will see, consider sponsoring the event and hosting a table or helping another local organization run a booth. Encourage employees to wear a company t-shirt while at the event in order to spur networking opportunities with local residents.

This idea becomes even more important when you consider that 40% of a company’s reputation is determined by volunteering and corporate social responsibility. At RumbleOn, we have dedicated numerous hours to volunteering at motorcycle rallies along with other events across the nation, but we put a special emphasis on local events. For example, we recently sponsored a car and motorcycle show in support of the local Boy Scouts. This created an opportunity for our employees to interact with our community and help a program reach new heights and set record results.

Create Lasting Customer Relationships

Many businesses often find themselves wondering how they can create long-lasting relationships with their customers. Well, 90% of consumers claim that they would switch to, and continue to support, a brand that gives back to a good cause.

 

So, what cause do you get involved with? Maybe your target customers are mothers or underserved residents in the community. If that’s the case,  consider creating a program to help local underprivileged youth or even send employees to nearby schools to talk to and inspire students about future career paths. At RumbleOn, many of our customers are active military, police, firefighters, and other servicemembers. With that in mind, we created a unique way to give back to our local and national heroes. We’ve found that this has helped us better connect with our customers and establish long-term relationships.

Take Employee Engagement to New Heights

Employee engagement is essential to the success of every business. If employees aren’t excited to get out of bed and come to work, do you think they’ll produce high-quality results? The answer is obviously no. Employees who are engaged in their work can experience up to a 21% increase in productivity. So, how do you get your employees engaged to maximize results?

The answer lies in building a strong company culture and giving back fits hand in hand with this fact. Seventy percent of employers noticed that volunteer activities boosted employee morale, and 77% of employees feel that volunteering is essential to their overall well-being at work. To really get the employee morale flowing at RumbleOn, we created a campaign centered around a cash prize for one lucky customer. Our 100,000th cash offer received an extra surprise gift of $10,000, and this award could not have gone to a more deserving customer. A local Fort Worth resident who had recently been widowed and laid off was the lucky and deserving winner.

Giving back to the community not only benefits those around you, but it also benefits your company as a whole. From long-term relationships with customers to improved employee morale and productivity, giving back should be at the center of all strategic business initiatives. Not only will the community view you as an avid supporter, but your bottom line will also see healthy results.

Heather Harrington is the RumbleOn Evangelist.