The Competitive Advantage Of Corporate Philanthropy

By our partners at .sbs
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“The results of philanthropy are always beyond calculation.”

Miriam Beard

This quote holds more power when it comes to corporate philanthropy. Since implementing corporate philanthropy benefits not only the community but also your company and its employees. And that’s one of the biggest reasons why corporate philanthropy has become more prominent in businesses today. With society recognizing the need for more social, environmental, and economic responsibility, the importance of corporate philanthropy keeps rising. Corporate philanthropy plays a massive role in a business’s success, bringing more benefits and having a more significant impact on your company’s performance. 

Although the importance of philanthropy is becoming more known today, it has always been considered beneficial for businesses for decades. Companies that have inculcated a positive social responsibility have gained a favorable image in public and received immense support from their target audience. This support is especially evident in the Asia-Pacific region, where the tendency to purchase from socially responsible brands is the highest. As per a report by Neilsen,  64% of consumers prefer associating themselves with socially responsible brands in the Asia-Pacific region.

While there are numerous advantages of corporate philanthropy, let us first thoroughly comprehend what it means. 

What Is Corporate Philanthropy?

The origin of the word philanthropy is Greek, and it means love for humanity. Today, the term philanthropy commonly implies the act of voluntarily giving by an individual or an organization to help society and communities flourish and make a significant impact.

Organizations should implement corporate philanthropy through the strategic and generous use of their finance, employee time, facilities, or their products and services, to help others in their community and give back to society. The best corporate philanthropy initiatives complement the company’s business objectives, culture, and identity. Corporate philanthropy is a long-term strategic plan rather than just a one-time program, and its impacts are long-term. 

Now that we’ve defined corporate philanthropy let’s look at its benefits to your organization.

Five Advantages Of Corporate Philanthropy

  1. Corporate Philanthropy Helps Build A Positive Brand Image

One of the key benefits of corporate philanthropy is helping a brand improve its reputation and build a positive brand image with its employees, customers, prospects, clients, partners, and community. The more you invest in doing good, the better your audience will perceive your brand. A strong brand image also maximizes the opportunity to connect with many audiences who support the exact social cause.

When your organization promotes its philanthropic activities through multiple channels, it increases your brand’s visibility to more individuals who connect with your brand’s charitable goals, start trusting you, and grow more loyal towards you.

One way to make noise about your philanthropic activities and make them known to your audience is by having a strong online presence – one that resonates with social welfare organizations, activists, and charitable activities. For example: http://www.giving.sbs. 

.sbs is a domain extension that stands for ‘Side by Side.’ It is targeted towards forward-thinking organizations and individuals who strongly believe in doing good for themselves and society side by side.

  1. Corporate Philanthropy Helps In Increasing Employee Engagement Levels

A company that implements philanthropy programs builds deeper and meaningful connections with its employees. Up to 78 % of employees prefer engaging themselves with corporate social responsibility initiatives, which results in increased employee engagement which then improves productivity levels and business results. 

Research done by Gallup found that organizations that have high employee engagement have 21% higher productivity levels than their competitors. 

More employee engagement indicates that your employees are happy and satisfied with their work. When a company fosters corporate philanthropy, it stimulates collective engagement from all of its employees, who experience a feeling of accomplishment in doing more for their communities. This positive attitude leads to a happy workplace and eventually increases an employee’s loyalty.

  1. Corporate Philanthropy Builds A Positive Workplace

As discussed above, corporate giving leads to a happier and more positive workplace. Corporate philanthropy draws people together and boosts teamwork, resulting in meaningful and stronger relationships among employees who share the same ideas and support the same cause.

When your employees participate in philanthropy or charity initiatives that correspond with their beliefs and values, they begin to perceive themselves as more than simply a paycheck. Corporate philanthropy allows your employees to be a part of a more significant cause that benefits communities and brings about positive change.

  1. Corporate Philanthropy Helps Build Strong Consumer Relationships

Today’s customer prefers to buy products or services from brands with a strong sense of social responsibility and is doing good in the world. They are more interested in organizations that work together to make a difference. When you make corporate philanthropy a priority, your customers become more interested in your brand and want to be associated with it.

More than 78% of people today contribute to multiple charities each year; out of these, 67% of the total contributions go to the person’s top cause. If an organization’s philanthropic agendas match that of a consumer, it acts as a motivational tool for them to associate themselves with your brand. 

  1. Corporate Philanthropy Can Help With Tax Incentives

“You get what you give.” The saying has quite an implication when it comes to corporate philanthropy.

When an organization makes monetary contributions as part of its charitable initiative, it may be eligible for a tax break. While this should not be an organization’s sole expectation of financial gain, assisting a charity in need does give some economic benefits.

Charitable contributions are usually tax-deductible for organizations, and they should consult with a financial advisor to ensure that all tax obligations are satisfied. This advantage provides for a reduction in the net cost of the outreach endeavor.

Conclusion

When appropriately implemented, corporate philanthropy efforts may have a significant impact on an organization’s success. They provide more productive and engaged personnel and a powerful and good brand image that attracts talent and boosts sales.

However, for an organization to reap the benefits of corporate philanthropy, it must first establish a strong online presence that allows them to reach the most significant number of people and make its efforts known to its target audience. And what better way to accomplish that than by using the .sbs extension to build an effective and powerful online presence for your philanthropic initiative side by side with your business. 

Staying Ahead Of The Curve With .dev

Automation is changing the way entire industries function. It is what separates forward-thinking businesses from traditional mindsets. One company that has embodied the value of automation is Google. Whether it’s self-driving cars or an immense advertising network, Google is one of the leading companies invested in coding and development advancement. And so it’s quite a treat that, as of February 28th, 2019, Google is releasing a new domain name extension: .dev.

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The .work Domain, For Getting The Job Done

Whether it’s shared workspaces, freelancing, employment-related services or corporate HR – the .work TLD is leading the global workforce.

The global giant Amazon uses the website amazon.work as their employee human resources (HR) portal for hundreds of thousands of employees.  Alexa.com ranks it in the top 3,000 US websites with over 380,000 unique visitors per month.

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4 Reasons to Use a .online Domain Name

online@2x

The number of people and businesses using the internet has skyrocketed over the last 40 years. In 1980, there were only about 50,000 internet users in the world. Now there are 3.2 billion users. Almost half of the entire world’s population will be online by the end of the year. With this trend, it’s important to think about the name you want for your website. In addition to .com, .net, .org, there are plenty of new options and domain name extensions. The .online domain name is a logical way of announcing that you are online. Whether you are a brick and mortar business looking to get online or you are a well established institution looking to reach people on the internet, there are 4 reasons to use a .online domain name. Continue reading

How to Make The Most of New Domain Extensions For Your Marketing Strategy

Let’s talk about Lucy. She is a pastry chef who recently moved to Chicago from Paris. She set up her bakery a couple of months ago in a quiet suburban neighborhood and is pleased with the response she has received so far. What started out as a hobby back when she was a teenager has now become her passion and profession. The business is thriving, she loves what she does and is excited about what the future holds for her.

It is likely that your brain has visualized this story as you were reading it and will retain those images for you for a long time to come. On other hand, your brain has presumably forgotten the name of this person (unless your name is Lucy or you have a specific reason to remember that name). The reason is that your brain selectively retains information that it finds meaningful and discards anything that it classifies as useless. This continuous process of dumping redundant memories and data is what makes the brain efficient. It’s not surprising that this intel into the functioning of our brain is the genesis of ‘marketing with storytelling’.

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What to Do If Your .com Domain Name Is Taken

 

what to do if your .com domain name is taken

Let’s face it. .com is popular. Everyone knows what it is. You don’t have to explain it to anyone. .com is associated with how we think about the internet, simply because it has been around so long and because there are 126 million (yes, million) registered domain names. Maybe you’ve had inspiration recently to start a side hustle, or to showcase your artwork. Maybe you’ve got a business plan and want to launch your brand online. Either way, when you go to register the name you want, you find that your name isn’t available under .com. This article discusses what to do if your .com domain name is taken.

Word Hacks

Your first thought might be to do the classic word hack. If, say the name you want is “Smart Link”, you could get clever and snag a .ink domain name, and your website name could be smartl.ink. Another example of a word hack is if you had the name “Show Biz”, your domain name could be show.biz. Word hacks are tricky, though, because it all depends on the name or phrase you want. Keep an open mind, but don’t rely on this option.

Browse The New TLD List

A better option is to take a look at the long list of new TLDs (Top Level Domains) available. Browse the list and see which one stands out at you. You’d be surprised to find that the domain name you want is probably related to one of the TLD extensions on the list! For example, if you have a hobby of creating glass art, you could grab a .art domain name. In fact in that scenario, a .art name would be more relevant than a .com name because it describes exactly what you do in the address bar. You make it easier for people to get that “aha” moment when their brain is deciphering what you do.

Search For Your Name With a New TLD

Once you’ve spotted a few TLD extensions that are related to what you do, start searching for your domain name with those extensions. If someone makes 3D animation, for example, and they work with other people, they could get a domain name that has their business name, plus an extension of .studio. They could also get .tv or .video because they produce video, or they could get .design because animation is a form of design. These are just stream-of-consciousness examples, but you get the idea.

Spend some time to think about how your business or your activity can be categorized. What industry does it fall under? Chances are, there is a TLD that is relevant to what you do. The more closely related your business is to the TLD extension you choose, the better. Google will reward you as well, because it looks at the content on your website along with your domain name as it matches your website with users’ keyword searches.

The moral of the story is, don’t get discouraged if the domain name you want is taken under .com. There are plenty of other options that could be helpful. And it might actually be more unique.