Why do companies give back?

Following a board meeting of the Corporate Giving Network yesterday, the research I’ve been doing on why companies give back to the community came in handy when we discussed content for our March 2, 2017 conference. Here’s what I’ve discovered:

  • It’s good PR – a company’s actions will generate media attention
  • It improves the ability to attract and retain millennial employees
  • It increases sales as customers are more likely to choose a brand that gives back over one that does not
  • It reduces the cost of advertising as ‘word of mouth’ testimonials are plentiful and with the aid of social media, can go viral
  • Employee morale increases as staff feel proud to work for a company that cares about its community
  • It can reverse bad press
  • Confirmatory bias – customers feel good about their buying decisions and are unlikely to experience buyer’s remorse
  • Differentiation – companies embracing corporate social responsibility will have a competitive advantage over their competition
  • The owner/founder/CEO is altruistic

This topic will be further addressed by subject matter experts, industry leaders and c-level nonprofit executives on March 2, 2017 at the Corporate Giving Network Conference in Seattle. For more information, contact Joy Stephens at joy@o2joyent.com.