Corporate sponsorship has been around for as long as there have been charitable organizations in need and businesses eager to help their communities out. Many Fortune 500 companies have entire departments dedicated to identifying charities they would like to give to. Even small businesses can practice social responsibility – and doing so proves beneficial in many ways.
Social Responsibility Helps Everybody
Social responsibility can take many forms. It may involve donating to charity, sponsoring a family over the holidays, feeding the homeless, initiating a clothing or canned foods drive, and more. Regardless of the activity, there are many advantages to aligning your business with a charitable organization. These include:
- Improved brand awareness. Sponsoring a charitable organization or event translates to increased exposure in the community. Most businesses who donate will have their name and logo included on advertisements, mailings, and other promotional materials, resulting in increased brand recognition throughout the community. More visibility means more sales, and more sales translate to higher revenue.
- Positive brand image. Businesses that give back to the community are viewed favorably by residents. Aligning with a charitable organization identifies you as a business that is interested in more than simply making money; your commitment to helping others will create a positive impression in the public eye. This can make all the difference for potential new patients looking for a local provider, especially those who make an effort to support businesses that invest in the community.
- Better patient experience. Sponsoring a corporate event provides existing and potential patients with a positive experience they can tell others about. Word of mouth is key in the health care industry, where positive reviews are priceless. Happy patients are likely to result in more patients.
- Swag and perks. Companies that align themselves with charitable organizations aren’t in it for themselves, but nonprofits who receive financial donations often return the favor by giving their donors items such as tickets to galas and other events; “swag” bags filled with gift certificates, electronics, clothing, or jewelry; and invitations to meet with other high-profile donors including celebrities, athletes, local business leaders, and VIP attendees. This, in turn, could lead to more business opportunities for your company down the line.
There is no doubt that corporate sponsorship has its benefits, especially for smaller businesses striving to establish a name for themselves in the community. Not only are you supporting a good cause, but you’re improving your public image at the same time. Everybody emerges a winner!