According to a recent study by the financial services organisation, Foresters, consumers are more likely to use businesses who support good causes.
Stephen Dilworth, of Foresters, summarised the research findings by saying "Engaging with charities and communities increases revenue for businesses".
Some might say this is a bold claim but the findings do seem to speak for themselves. When given a choice between like-for-like products and services at the same price; over 80% of consumers would choose the business with a Corporate Social Responsibility (CSR) scheme.
I understand that you might be a little bit cynical about this research when it's actively promoted on the blog of a local charity. I can also see that you may think this is, 'just another transparent sales tactic', as I worked in the corporate sector before moving to the Third Sector. I'm not going to lie: our charity would love to hear from you to discuss the ways in which we could work with you. But the fact remains, being charitable is good business. So what will you be doing about it?
If CSR isn't something you're interested in, perhaps you've been missing a trick. If we weren't already a charity ourselves, I would be asking us to support one right about now. You might be surprised to know that only 5% of the population doesn't give to charity - pretty astounding given the current economic climate. An overwhelming 89% from the study thought businesses should support charities and their local community. This would certainly seem to suggest that we are a very generous nation; so could you see an increase in profit off the back of supporting a charity? Quite clearly so. The best part is; there is no moral dilemma here - everyone is a winner.
If I could bring home one final point, it would simply be this; when people have less money to give, how will they choose to be charitable? The obvious answer is by choosing to use those businesses who support local (or national) charities.
If you're interested in finding out how your business can support Rowcroft Hospice, please visit our Corporate Fundraising page. The article that inspired this blog can be found at www.thirdsector.co.uk.