The ROI of Business Giving
Business success is often discussed and measured in monetary terms - revenue growth, profit margin, and stock value or stock price. However, what is often not measured is the value a business brings to the community.
As the CEO of TheLivingPages, my mission is to connect and support the local community through our consultative and marketing offerings for small and medium-sized businesses. While profitability and growth are key objectives, since our inception we have sought out partnerships with non-profit organizations such as the Las Vegas Rescue Mission and Las Vegas Rotary Club. We don’t want to just sell to the community; we want to be a part of the community. We volunteer our time and donate funds to various projects that serve our neighborhood and improve our community.
Today, we have forged new relationships with larger corporations such as Rimini Street, Inc., a Las Vegas based independent provider of software maintenance, to donate dozens of laptop computers, Kindle Readers, and other needed items to schools and those in need, and allocating additional time volunteering our services and products to The Shade Tree, Salvation Army, Goodie Two Shoes and Roseman University of Health Sciences, to name a few projects.
Company donations and giving are not new concepts by any means, but today companies are finding ways to give back to our much deserved community for a variety of positive reasons. Here are three key reasons I believe every business should implement a giving program of their own:
Team Strength - Community service creates strong bonds and respect amongst employees. Being a part of a business that positively influences the community gives way to higher team productivity and loyalty. It is not a coincidence that businesses that build strong community ties are often the business that we associate with business success and growth.
Brand Recognition and Development - Every company should have an image recognized by the public. McDonald’s may be in the business of selling burgers, but we also know that millions of dollars are being donated back to the community through the Ronald McDonald House Charities. If your goal is to ensure that your brand is associated with a positive image, build a brand story that includes your contribution to the community. People buy from companies they admire and trust, and the only way to build the image is to earn that admiration and trust with community involvement beyond just selling.
Long-Lasting Relationships - The people you will meet while volunteering your time in the community are the same people who will remember you when business opportunities arise. For example, without ever being prompted, our community partners and those who heard about our community work connected us to their corporate sponsors and partners to bring us amazing opportunities to grow our business. We have built up trust and admiration in the community, and it is paying off for our business as well. Doing something selfless always seems to give back in multiples.
As you look to choose the projects to get involved in, just remember that it is easier to get your team members and employees involved when you lead by example. Find a program that works for you and start today. Success will soon follow.