The community is the backbone of society. It’s the glue that binds people together to make their cities and towns work. It’s what brings people together for a common goal, whether it be sports teams, professional associations, charities; the list goes on.
Damon Becknel, an experienced entrepreneur and land developer, knows how important it is to give back to our communities, but did you also know that entrepreneurs could benefit from giving back as well? Whether increasing publicity or improving customer relations, there are many benefits to giving back to your community. Here are just a few of them:
Generates Goodwill
When customers hear that entrepreneurs support charitable causes, it generates goodwill toward the company. It shows their customers that they care about more than just making money; they want to make a difference in the world.
Increases Your Social Media Following
Giving back and promoting the cause through social media is a great strategy for increasing your following and bringing them closer together under a common mission. Not only do you increase your social media following, but it also increases the reach and impact of your words and encourages people to share the cause with their friends and family.
Publicity
Getting positive publicity for your business is very beneficial–and can increase traffic ten times more than paid advertising! You could simply talk about your involvement in local charities with the media or do a public event with your selected charity. For example, if you’re involved with Big Brothers/Big Sisters of America, you could have an event at your business where you teach the kids to cook muffins for their parents’ breakfast in bed.
Customers love to see businesses give back to the community because it shows that they care about more than just making money.
Brand Loyalty
Your employees will feel more connected to your business, and customers will appreciate what you’re doing too, which can help build brand loyalty. Employees who believe in your company’s core values will work harder and longer for you, and customers will want to be loyal as well because they know you’ll treat them right.
Better Employee Relations
Employees who believe in what you’re doing to give back will feel more positive about their work. It’s human nature–when you feel like you’re making a difference, it improves your self-esteem and outlook on life. Additionally, employees will enjoy working harder for you because they know they’re improving not just their own lives but the lives of others as well.
Lower Employee Turnover
Sick of dealing with employee turnover? This can be costly for any business–training new employees must be paid for, along with the loss of productivity that comes with losing an experienced worker too soon. Not only that, but if people aren’t happy at your company, this is one of the leading reasons they’ll leave.
Employees who feel like they make a difference will be happier at work and less likely to leave.
Final Thoughts
In this day and age, it’s easy to be focused on the bottom line–but sometimes that cost-benefit analysis needs a little more math. By giving back to your community, you’ll bring in positive publicity for your company, generate goodwill from customers and employees, build brand loyalty, improve employee relations, help reduce turnover; the list goes on! Plus, it’s never been easier to give back through social media or even old-fashioned word of mouth.
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