For businesses of every size, maintaining a good reputation and relationship among consumers is essential for growth, but that’s easier said than done. Consumers support or reject companies based on the positions they advocate; 87% buy based on values and 78% boycott based on values. While it’s impossible to please everyone, involvement with community action speaks louder than any billboard could. Of the small business who choose to participate in local event sponsorship, 80% are satisfied with the results.
Smart business leaders understand that being welcomed in to a community as a business is a privilege. Nearly 90% of consumers think that companies should invest in causes in their community and around the world. Because of this, consumers are aware of which businesses give back to their community and which do not. Companies come and go, but the ones that stay and grow where they are planted are almost always involved in community efforts. For years, Budweiser has been responsible for hosting the annual Duck Tape festival in Avon, Ohio. Gaining national attention, this event is a staple of the community and boasts such features as a Duck Tape parade and fashion show. Stimulating the local economy and bringing the community together all under the name Budweiser has powerful effects for the brand.
Name recognition and trust is not built overnight and it’s certainly not built on ads alone. Getting involved on a corporate level with community events is easier than one might imagine, as non-profits are always open to corporate support and many are completely flexible when it comes to the types of businesses they will accept sponsorship from. For small businesses this could mean sponsoring groups for weekend morning 5k runs or Little League games. Monetary support for events is only one option for involvement; when money is tight, as it often is for small businesses, financial donations are not always a possibility. Donating branded items, sharing resources or space for events, and even just volunteering under a company name will show the community that your business is committed to helping it grow.
When communities grow, so do the businesses within them. How does your small business get involved with the community and what kind of results has that involvement generated? Take a look at this infographic from Zipsprout for more on local event sponsorship and how it supports community growth, what it takes to get involved, and the lasting results it provides.
Please include attribution to Zipsprout.com with this graphic.