How Generating Positive Community Impact Can Help Your Business
Every decision a business makes has residual effects on its community impact.
In recent years, a commitment to community responsibility has contributed to the success of many companies. More and more consumers are seeking out brands that are making efforts to improve local communities. In fact, according to research from Accenture, customers are more likely to spend money with a company when their brand purposes reflect issues that matter to them.
To succeed, businesses must be able to respond to what their communities need. The relationship between a business and its customers should be symbiotic, where both parties rely on each other. To make this relationship work, a business must establish a positive community impact.
Every decision a business makes has residual effects on its social impact, and these are the factors that encourage or discourage potential customers who are looking to spend their money.
Below are a few of the steps any business will need to take to strategize what their social impact might look like.
Know Your Community
Before beginning concentrated work on its community impact, a business must first know its customer base. Knowing the pulse locally and what people care about is vital to cultivating loyalty and interest.
To deliver the best effort in solving community obstacles, you must first know what problems your local community faces. Ask yourself:
- How does your business fit into your community?
- How can you position your business to respond?
- Does this community effort align with your business mission and values?
Once you answer these questions, you can enlist community members to help your business in collaboration with this community initiative. There is no better way to gain insight into your community than by working directly with them.
Unite Your Goals and Workforce
While working outwardly to learn what impact your business can make in the community, turn some effort inwards. Work with your human resources, management teams, and employees throughout the organization to create a policy that empowers each individual in your business to work on enacting enact community change.
Allow them the freedom to work within the community to achieve the common goal, but also work with them to determine what other issues and challenges your business might be able to help with. Remember that most, if not all, of the people who work in your business are also members of the surrounding communities.
Once you have determined what directions you will be taking as a business, lead with a strong example. When people see that you are willing to help them solve their problems, they are more likely to start joining their hands with yours.
Promote Your Cause
After you have carried out the proper research and come up with an idea, the next step is to start promoting your cause. This is a tenuous moment, as it is the first time members of the community will have a chance to react or share their thoughts. It is important to not let your fear hold you back. You have done the research and you know that your intentions are good. Let your voice be heard.
Start to market your cause to people within the community. Take the chance to network with as many other local businesses as you can, and try to find direct support through like-minded individuals. Right out of the gate, work focus on the smallest issues, working to provide a solution all while raising awareness.
Use social media whenever you can to convey your experiences and stories about these from working through local issues. Include a section on your website dedicated to the work you are doing in the community, and create a forum for people to share the problems and issues they would like to see addressed.
Taking a chance and promoting your cause, and your work on it can cause a groundswell of support. You may get some negative feedback, but the support and appreciation will far outweigh any disgruntled opinions.
Deliver & Track Results
While your business is making its efforts to work in the community, As your business makes efforts to improve its community, be sure to document everything. Take photos and videos to share progress or stories from a day of working towards the common goal.
Keep detailed information and notes on any investments you have made, and be prepared to show the impact that has come from them. Work with your community to establish present qualitative and quantitative data that demonstrates the positive impact attributed to your actions.
Distribute this information both internally and externally to strengthen your brand reputation among community members, potential customers, and employees alike.
Getting Your Community To Invest In You
After your business has put in the work and demonstrated its commitment, local community members will feel more of a loyalty to your organization. Customers will also be more inclined to use your business, and willing to support you in future community endeavors.
As you continue to work on provideing positive social impact, you may come across more opportunities and ways in which to serve your community. Some of these might be easy to pick up and accomplish, but others may be out of reach financially.
Thankfully, BBB has a solution to help connect businesses with those who are most passionate about creating a community impact. Recently, BBB partnered with GoDaddy and the City of Phoenix to create the Phoenix Kiva Hub.
Kiva is an online crowdfunding platform that allows businesses and entrepreneurs to connect to the greater community and raise funds for their efforts. Whether a business is looking to expand, purchase new equipment, or begin a new project, Kiva allows businesses to earn funds while growing their community base.
The best part, Kiva loans are interest-free.
If you are interested in connecting with the community while achieving your business goals, check out the Phoenix Kiva Hub today.