One of the easiest ways to generate goodwill towards your business is to sponsor a charity or two in your local community. Making a sizable financial donation will get your business name put up at the charity event, getting your name out and letting the community know you care. Not only are you supporting those in need, but you are also increasing the visibility of your business in a positive way.
Aligning Your Values With a Charity
Image via Flickr by amateur photography by michel
There are all kinds of charities that are happy to accept donations from local businesses and give advertising in return. You need to decide which charity best fits your personal and business ethos. As an example, if you feel strongly about safety then consider supporting a volunteer firefighting service. In the event that you’re a sports fan, look into sponsoring a local Special Olympics athlete and help him or her get to the next competition or major event.
Chances are good that there is a charity out there that aligns with a cause you feel strongly about and gives you the opportunity to help and market your business at the same time. Depending on the charity you donate to, your name might be included on vinyl banners, fliers, or in programs printed for the event.
Donations Are Tax Deductible
It’s possible to claim charitable donations to a nonprofit organization that is IRS-approved and reduce the overall tax liability for the business. Volunteer hours, monetary donations, and items of value gifted to the charity are all deductible. Keep an itemized list of all types of donations that have been made throughout the year, so you can back up your claims in case you are audited.
Impress Your Customers
Showing your customers that you care enough to support a charity goes towards increasing the positive feeling they have towards your business. In turn, customers will go out of their way to talk positively about the good you’ve done for the community towards others. This kind of word-of-mouth is a benefit to you as it encourages new customers to utilize your services as opposed to a business that doesn’t bother to take part in charity events.
Reap the Long-Term Benefits
It may take a little while for you to see the results of your charitable donations. Customers may take a week or two before deciding to come to you for your product, but they do eventually arrive due to your charitable efforts. The process begins when your business name is linked to the charity. Participants and supporters see the business name and file it away for the future when they think they’ll need what you offer. When they go to fulfill their need, they’ll recall your business name and come to you for help.
Sponsoring charities can create a symbiotic relationship with your business provided you do it right. Take a little time to figure out what charity makes the most sense to you, find out how you can support them, and learn how both of you can benefit each other.