Being associated with a company that values social responsibility is becoming more important than ever to customers, and studies have clearly linked corporate citizenship, social responsibility and charitable brands to business success and shareholder returns.
According to jkgroup, “companies with the strongest growth in giving for community-related programs also had the strongest financial growth, confirming a clear correlation between corporate philanthropy and financial performance.”
Further, “Companies with integrated corporate citizenship programs saw a 2.2x increase in access to new markets and a 2.3x jump in employee retention. And companies with at least 4 years of corporate citizenship saw a 3x improvement in risk management and a 3.9x reduction in employee health costs. Overall, corporate citizenship translated into fewer sick days, lower corporate expenses, higher profits and overall business success, and lifted company shares.”
Customers Support Companies that Give Back
Acting on social values that are important to your customers can boost your brand equity and bottom line.
- 90% of consumers are more likely to trust and be loyal to companies that back causes, and 82% say their purchase decisions are influenced by companies that support social causes
- Millennials’ commitment to their beliefs is so strong that they refuse to become affiliated with companies known for unfair or nonsocial practices
- 72% of consumers would recommend a brand that supports a good cause over one that doesn’t
Brand Benefits of Corporate Philanthropy
Consumers reward caring companies with a brand halo, which translates into bigger profits, better brand equity and higher share value.
- 9/10 global citizens say they have a more favourable impression of a company after learning it supports disaster recovery
- 75% of U.S. consumers say they would donate, volunteer and tell friends and family about a company’s CSR efforts
Corporate giving is not just about being noble and selfless but has proven benefits including higher revenue and profits, and long-term brand and reputation development.
Ready to engage in corporate philanthropy and build an effective employee giving program? We can help! Give us a call at 1-877-531-0580 or email firstname.lastname@example.org to get started.