Especially during the age of COVID, it is increasingly important for people to give back to the communities that they live and participate in as a part of your everyday lives. This applies even more for companies and the roles that they play in the communities that they operate in. With many financial struggles inflicted upon citizens and small businesses alike throughout the COVID-19 pandemic, there is no better time to give back to their communities for those that have the ability to do so. With this in mind, here are some of the top reasons why companies should give back to their communities.
The first main reason companies should give back to their communities is for positive branding. Companies that get involved with charitable organizations will demonstrate concern for their community’s well-being. Additionally, this will show customers that a company is committed to having a positive social impact.
Next, a company that gives back helps to differentiate themselves from other businesses in the community. Thus, operating a socially responsible business will help one set themselves apart from their competitors. In turn, helping to support organizations in their community will help a company earn consumer trust and loyalty.
Giving back to their community can also help a company attract new customers. When faced with a choice between products of similar quality and price, consumers use other factors to make a decision. Actively supporting local charities in their community could end up being the deciding factor in this case. Hence it would be in the best interest of a company to be the brand consumers switch to, and not from, because they engage in efforts to give back to the community.
An additional benefit of companies giving back to their communities is the potential for increased customer support. Oftentimes, business owners have a responsibility to the communities that they reside in. It’s very important as a company to give back to your community and be involved. Donating to local organizations helps to foster goodwill. Additionally, you’ll create advocates for your brand.
Finally, giving back to their community can help provide a company with free publicity for their brand. As a rule, socially conscious businesses are more likely to receive positive publicity. With this positive publicity, a company could receive more free coverage than they ever could have paid for. Since most news coverage is negative, positive stories tend to do well, as a result.
An example of a great company that places an emphasis on giving back is Mama Gaia, a tech start-up based in Denver, Colorado. At Mama Gaia, we use our Smart Fridge amenities to provide fresh, healthy meals to customers at offices, residential communities, universities and hospitals alike. Thus, we allow businesses to provide their people with fresh, locally-sourced meals without making an onsite staff or kitchen a necessity. The fresh, locally-sourced meals that we serve to customers in our Smart Fridges range from salads, paninis, cold brew coffee, smoothies, kombucha, protein bars and more.