Can Community Involvement Boost Your Bottom Line?
By Sarah Ford on January 21, 2014
Companies that encourage community involvement distinguish themselves from their competitors, and see many benefits, including loyal customers and happier employees. According to a May 2013 study by Cone Communications and Echo Research, 82 percent of U.S. consumers consider corporate social responsibility (CSR) when deciding which products or services to buy and where to shop.
"I've found that customers really want to know how you're making the world a better place," says Erin Giles, an Aiken, S.C.-based business philanthropy consultant who helps entrepreneurs find causes they're passionate about and incorporate their message into their business. Moms and Millennials are particularly interested in a business' corporate social responsibility platform, Giles says.
Here are four things to consider when incorporating community service into your business plan.