Consumers and employees are becoming increasingly knowledgeable about social impact and, more than ever, they actively search for brands that share their values and support similar causes. In fact, a recent Global Trends report indicated that, “70% of respondents say they buy from brands they believe reflect their own principles.” In addition, 88% of millennial employees (ages 23 to 38) find their jobs more fulfilling when given the opportunity to positively impact society and the environment.
Nonprofit corporate partnerships, when developed thoughtfully, function as a meaningful way to show your stakeholders that your company genuinely cares. Developing relationships with the right nonprofits can be a boost, not only for your business, but for the nonprofits you work with and your broader community. This means that everyone wins. By doing the right thing, you are putting your business in a position to be even more successful.
The Perks of Giving Back
Partnering with nonprofits to better your community and the world is a win-win for everyone involved. But, as a business, where are you likely to see the most benefit and positive change?
Businesses need to distinguish themselves from their competitors. Working with local and/or national nonprofits shows customers what the company stands for. In fact, differentiation and, putting your money where your mouth is, were two of the initial motivations for large companies to develop CSR policies, which often include corporate-nonprofit partnerships.
Let’s be honest, if you’re staring at two similar products and you know the company behind one of them supports nonprofits that help improve your community, which one are you more likely to buy?
Starting and formalizing a giving policy as part of a company’s ethos will help drive strong and authentic support from consumers and employees.
When a business collaborates with a nonprofit that has a dedicated following or strong local presence, both organizations stand to benefit from shared messaging, positive PR, the creation of brand advocates, and other opportunities. Such benefits can be elevated by launching a cause-marketing campaign aimed at further raising awareness. Well-crafted cause marketing campaigns put a spotlight on the nonprofit partner and help to drive media attention, increase sales, and can benefit other company goals—internal and external. In some cases, such initiatives include multiple nonprofits and multiple corporate partners, further building awareness and allowing for additional collaboration with like-minded organizations.
Employee Engagement and Satisfaction
When staff members are part of nonprofit partnership decisions, they are more likely to take ownership of your mission. Encouraging employees to participate in company-sponsored events, such as food drives or volunteer sessions at the nonprofit’s site, and giving them the ability to support these nonprofits with a company match (easily facilitated through EarthShare’s Giving and Engagement Platform), lets them experience your CSR policy at work and instills a sense of pride in the company. A Nonprofit Source report showed that individuals who participated in corporate giving programs at work had 75% longer tenures with their employers.
The "Feel Good" Factor
As a business grows, employees and consumers get to observe the positive impact they are making in the community and larger world. This makes for an increased pool of customers, greater content opportunities, and more motivated employees. We all want purpose in our lives, and businesses have an amazing opportunity to help people embrace their personal missions by supporting nonprofits doing amazing work.
While the idea of launching a new nonprofit partnership sounds simple, it can backfire if done incorrectly, leading to an equal amount of negative consequences. This is why EarthShare advocates for taking a strategic approach. Ensure you are clear about your overall goals. Consider what issues you want to focus on and what nonprofits are best to support (for your company) in these areas. Do your research and collaborate with partners transparently and authentically. Then, create a plan that engages both employees and customers.
Want to learn more about how to execute an effective nonprofit partnership? EarthShare is here to help. With years of experience and technology available to enhance your efforts, we are ready to support your nonprofit partnership needs. Contact [email protected] to learn more.