London Inc. Winter 2023 - 34

Special Editorial Feature: LONDON GIVES
Building your brand
through charitable giving
By building a strategic corporate philanthropy program around core
business objectives, the value of giving back becomes clear
PROPONENTS OF CORPORATE
philanthropy sometimes face
an uphill struggle in helping
owners, board members,
shareholders and other interested
parties understand
the sound strategic value of
giving back.
In some cases, those with
an eye on profits may even
view corporate giving as a
negative thing since it seemingly
removes money from the
bottom line.
With the right information, however,
it becomes apparent to those same people that
philanthropy is actually a sound investment in the
long-term financial success of the business.
Corporate philanthropy programs can create a
powerful competitive advantage if they are planned
strategically - with a meaningful focus on the
organization's core business and target market -
and carried out effectively. This advantage can even
translate to profits very quickly.
For example, within months of distributing a
supply of gift cards to their customers through the
Donors Choose campaign to benefit education,
home decor retailer Crate and Barrel
noted a 16 per cent increase in sales
among those who received the
cards.
By developing their corporate
philanthropy programs with
the secondary business goals
in mind, CSR managers can
achieve greater success with
demonstrating the value of
giving back to the senior company
leadership. What follows
are a few benefits to consider when
developing a philanthropy program.
BOOSTING BRANDING AND NAME
RECOGNITION
Charitable contributions and high-profile volunteering
efforts can increase brand recognition in
a competitive marketplace more effectively than
many types of marketing and advertising.
Even more importantly, the reputation built in the
consumer's mind is connected to positive things
that, in many cases, have a direct impact on the
individual or someone they know and care about.
This makes the impact of the branding even more
effective as it promotes goodwill.
BUSINESS
CARES
AS YOU'RE TURNING the pages of this issue, you'll notice
the Business Cares Food Drive heart logo appearing on many
of the ads of our business partners. A portion of the proceeds from
these ads will be donated to the 2022 campaign, helping to support the
London Food Bank and people in need throughout the community. We'd
like to thank our participating partners and invite all London businesses to
visit www.businesscares.ca to find out how to get involved.
f
34 | londonincmagazine.ca | WINTER 2023
http://www.businesscares.ca http://www.londonincmagazine.ca

London Inc. Winter 2023

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