Corporate philanthropy is on the decline. The latest numbers show that it has fallen by more than half over the course of the last year. Critics as well as investors have high expectations for executives that can be difficult to balance.
Communicate Well With Investors
Critics expect that a company will deliver corporate social responsibility, whereas investors push for more and more profits. Corporate philanthropy can be used as a marketing and branding tool for a corporation. A good philanthropic venture can promote a good image and further push a brand through sponsorships, as well as serve a double-threat as advertising or PR as well. Charitable expenditure is a major concern for investors, considering that it is considered a loss for them. It’s critical for investor relationships to be clear to them about how a certain philanthropic venture will reflect well on the corporation.
Have an Objective
Organizations need to have a social objective to tie to their philanthropy. Having a specific objective and purpose in mind can further establish a brand and identity, making a profitable marketing and PR campaign that much easier. This can be difficult to consider from a PR standpoint, particularly as many people are suspicious of corporate actions. Be cautious, but be clear.
Hold Close to a Community
Organizations are not nations in and of themselves. Identify the locations and communities that will be most important to your organization. Social improvement can benefit the corporation – a rising tide lifts all boats. This goes hand-in-hand with having a clear objective to your philanthropy.
Everyone can benefit from corporate philanthropy, thanks to the massive power these organizations hold. There are innumerable industries and fields that could benefit greatly from the many philanthropic ventures that major corporations can put forth. But the corporate world isn’t likely to do much without a good reason. Understanding the goals and considerations of a major corporate entity isn’t something that is very natural to many, but it’s not hard to identify the primary messages that they will hold on to. Find yourself the right objective, angle of attack, and provide them the right benefits – you’ll find that philanthropy is more attractive than you thought.