There is a powerful tool that you can use to create a positive corporate image and help the world at the same time.
As both an entrepreneur and philanthropist, I know how businesses can benefit from strategic philanthropy. Large corporations often use this tool, but small businesses can benefit as well.
In this blog post, I will teach you what strategic philanthropy is and how you can use it to grow your business.
What Is Strategic Philanthropy?
Strategic philanthropy isn’t just about making one-time donations, or even about the money at all. It’s about using your business’s resources to make a change in the world.
The benefits of this strategy are mutual. Non profits get the help they need and you can foster a positive brand image. Some other benefits include:
- Fostering community ties
- Enhancing brand awareness and reputation
- Improving brand perception by showing that you are committed to social responsibility
- Attract and retain socially conscious employees
How To Use Strategic Philanthropy In Your Business
You don’t have to donate a huge amount of money to a large non-profit right away, especially if you are a small business. In fact, partnering with small, local groups can make a huge difference in your community.
For example, a small thing you can start doing is to give your employees a “charity day”. Every year they can pick one work day where instead of coming to work, you pay them to volunteer at a charity of their choosing.
2.Form a partnership that aligns with your values
Collaboration is the key that makes this strategy work. Find an organization, large or small, that shares the same values as your brand does.
Tony’s Chocolonely is a great example of this. They actually form their entire brand on the basis of societal good. Their mission is for all chocolate in the world to be 100% free of slavery and exploitation. To do this, they partner with local farmer co-ops who share their vision. Customers are willing to pay more for their product because of it’s ethical sourcing.
If you’re a small business, you can do this too. For example, if you run a local cafe, you can partner with local food banks to donate excess food. This helps to feed your community and eliminate food waste.
3.Raise public awareness
If you’re doing all this work, you want to make sure people know about it! Use your website, social networks, and the press to share how your work has had an impact. You get to raise awareness for the cause and encourage others to take action.