The team at Starfish Impact works with businesses of all sizes and often times, there is interest amongst employees to “do more”. The following article is designed to help connect the dots, and most importantly, explain the business case for strategic nonprofit – corporate partnerships.
These are a few of our favorite reasons for developing or growing a thoughtful nonprofit – corporate partnership:
- They provide a new avenue to connect directly with the client, customer, and/or suppliers; and
- They empower corporations to drive their own narrative by creating or defining their external personality; and
- They also help to differentiate a business from its competitors; particularly by making them seem more approachable; and
- They allow a business to deal with potential crises before they become a total crisis.
In addition to the above qualitative reasons, many business leaders respond to quantitative indicators before making any decisions. These are a few of the most compelling reasons to develop a thoughtful nonprofit – corporate partnership:
- Eighty-seven percent (87%) of Americans will purchase a product because a company advocated for an issue they cared about;
- Similarly, 76% would refuse to purchase a product if they found out a company supported an issue contrary to their beliefs;
- Ninety-two percent (92%) of Americans have a more positive image of a company when it supports a social or environmental issue. Eighty-seven percent (87%) report that they are more likely to trust a company and 88% would be more loyal to the company for doing so;
- Nine out of 10 Americans would switch brands to one that is associated with a good cause, given similar price and quality;
- Seventy-nine percent (79%) of people prefer to work for a socially responsible company; and
- Eighty-eight (88%) believe effective employee engagement programs help attract and retain employees.
These statistics are from a recent Cone Communication Research report or Corporate Social Responsibility.
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