Charitable Giving and Business Strategy } Rano Bofill

Charitable Giving and Business Strategy

by Rano Boll, MD | Mar 24, 2023 | Community Involvement, Donating, Philanthropy, Rano Boll MD

The days of robber barons and monopolies are over. Today, people want companies that care enough to contribute something to the world, and not just as a marketing ploy or an afterthought. Thankfully, many companies have similar goals.

The issue, however, is that it is hard to communicate that a corporate gift is founded in genuine generosity. The days of robber barons may be over, but that does not mean that all businesses actually aim to contribute to society; it just means consumers expect greater goals from the companies they support. The goal is to be dierentiated from the companies that are only in it for publicity, and this article will discuss two specic ways to achieve that.

Connect Giving With Company Mission

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It’s often a giveaway that a company has only money in mind when their charitable endeavors have nothing to do with the core values of the company. It may be excellent that a rm donates to pet shelters, but if the rm’s product has to do with selling bottled water, it seems like an afterthought. The rm’s charity should align with both the company values and the values of the customer. For a bottled water company, contributing to clean water eorts in impoverished countries would be a far better use of their money. That way, customers are more likely to understand the need and appreciate the company’s decision to help.

Don’t Overhype the Donation

There’s nothing that says “publicity stunt” like constantly talking about contributions to charity. That is the dilemma corporate charity faces. When it comes to donations, there is a ne line between constant bragging and simply informing the public of charitable giving.

As mentioned in How to Make Charitable Giving a Winning Business Strategy, the balance is found when a company tells the public about plans to donate but does not overhype the donation or make it an entire marketing campaign.

Make a Dierence

By aligning giving with company values and taking care to avoid overhyping donations, rms can ensure that customers are on their side. And when customers are on their side, it’s even easier to make a dierence.

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Charitable Giving and Business Strategy } Rano Bofill