7 Reasons Why Your Business Should Partner with a Charitable Organization
Developing a community partnership with a nonprofit charitable organization could be one of the best business strategies for your small business you can add to your revenue building toolbox. You might be wondering how could this be? I'll explain.
Charitable organizations are businesses similar to yours looking to increase their revenue just like you are for your business. A charitable organization increases their revenue is by adding new ways to reach more people with their message in the hopes of increasing their contributions. This is much the same as your business. You are looking to increase your revenue by increasing your sales and / service utilization. And how do you do that? The same way, by increasing the number of people who are introduced to what you have to offer. Both your business and the charitable organization are looking to increase your numbers and this can easily happen with what is known as "cross-marketing."
When selecting a charity partner it's important to take time to consider their mission, vision, membership and target market. When aligning your business with a nonprofit charitable organization that is similar to your company’s mission you create an opportunity to
connect with the wider community in a way that would not be available to your business and the charity has the same opportunity by connecting to your target market. Now you have two business entities all marketing to two different markets which increases the marketing reach for both. It’s a win-win partnership.
For example, C2 Your Health Women’s Initiative Inc. provides support through mentoring to women who are looking to start a business or struggling entrepreneurs from low-income neighborhoods. Many women in domestic violence situations do not know there is entrepreneur support and mentoring to help them to create and income to help them create a stable income as an exit strategy. C2 Your Health Women’s Initiative Inc. is able to provide this support thanks to the partnership with H.O.T. Hear Our Tears who provides counseling, resources and education to women in domestic violence environments. With this strategic partnership entrepreneurial women learn about the domestic violence support that is available in our community. At the same time women in domestic violence environments are learning there is woman-to-woman mentoring support if they would like to create and grow an entrepreneur business. This strategy doubles the reach of both organizations.
Your small businesses can benefit from partnering with a charity in the following seven (7) ways:
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