Nearly Fail-Proof Strategy Strengthens Client Loyalty
What if giving away money was the best way to make money?
Clients today want their money to do more than pay for a product or service. They want to make a difference. This means they’re more likely to support your business if they believe you’re helping society.
Are you committed to philanthropy?
If not, your clients may not be nearly as committed to you.
Philanthropy gives your clients a reason to commit to you.
People may shop around for the best price or the most convenient location. But philanthropy gives you an edge over price and location. Matter of fact, it thrusts your client loyalty into high gear.
According to a Cone Communications and Echo Research study, 82 percent of Americans consider a business’ social responsibility when they shop. Another Cone Communications study found that about 80 percent of Americans would switch brands, providers, or retailers because of the company’s corporate philanthropy.
That means 8 out of 10 people care more about charity than about getting the ‘best deal.’ For moms and Millennials, that number’s likely even higher.
Think of the raging success of Toms shoes. Some say they’re overpriced, but read their tag line: ‘With every product you purchase, Toms will help a person in need.’ That keeps their clients re-purchasing again and again.
If clients believe in the cause you support, they’ll invest in your business.
The 2015 Giving in Numbers report analyzed the corporate giving of 271 of the world’s largest companies from 2012 to 2014. The report found that the more money companies donated, the more money they earned.
These companies didn’t invest in the first non-profit that approached them.
They were strategic.
Choose a philanthropy that aligns with your company’s values and mission. How and where you give tell people what’s important to you and your company.
Are you into natural health? Donate to a charity that helps the poor eat healthier foods.
MyBody skincare did something similar and doubled their revenue.
I recently helped fill 20,000 food bags to feed starving children in developing nations (see photos). The before and after photos of the children helped were dramatic enough to bring tears to my eyes.
While philanthropy is a great way to grow your business and increase client loyalty, don’t take on too much.
Unless you’re Google or Apple, it’s probably not wise to throw money at too many nonprofits simultaneously.
There are many ways to be philanthropic:
- Choose just one charity to help. Rotate annually if you can’t decide.
- Donate pro bono work instead of cash.
- Augment your giving by allowing clients and employees to partner with you.
- Sponsor fewer events, but get more publicity for those events.
- Be generous, and also intentional.
Is philanthropy the missing link to your next big breakthrough?
To your unlimited business growth,
Carol Parks helps companies grow and solve their marketing problems with her strategic marketing consulting and professional copywriting… including websites, sales and lead generation letters, social media posts, and much more. She’s also available to train your writing team and speak at events. Visit Carol at www.CarolParksMarketing.com.