Vandermeer char reasons why your business can benefit

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Philanthropy Events written by
Webster’s dictionary defines philanthropy as, “an act or gift done or
made for humanitarian purposes” (Merriam-Webster). Although it may seem
like the main purpose companies give to charity is to better the world around
them financially, it is statistically proven that companies do not solely give to
give but rather give to receive. The philanthropic philosophy for companies
has evolved from giving to do good to giving to do good and to look good
while doing so. There are many ways in which companies fulfill this mission
including using philanthropy to stay fresh in their consumers’ minds, improving
public perception, increasing visibility or advertising for cheap, and increasing
employee morale. These reasons to participate in philanthropic work not only
help the organization in need but also reflect positively on the company itself.
Omnicom Group's Cone Communications conducted a study that shows that
70 percent of millennials will spend money on brands that support causes

they also support. Millennials also represent $2.45 trillion worth of the
spending money in the United States, so for companies to not study and
understand how much of an impact philanthropy and supporting a cause can
benefit them is a huge loss (Richards).
Other than the fact that according to the United States Census, 83.1 million
millennials reside in the United States today and hold a lot of power when it
comes to spending money, there are also multiple other reasons companies
should be philanthropic (US Census Bureau). Participating in philanthropy
events not only reflects positively on the company but it also allows for the
company to advertise indirectly to consumers. Philanthropy is the new
marketing and it is a great way to slyly and cheaply get the companies name,
product, and promotion to the public. An example of this type of campaign
advertising is Disney’s “Give a day. Get a Disney Day.” This campaign pushes
people to visit Disney’s website to search for eligible volunteer work, to
participate in the volunteer work, and receive a free, one-day pass to Disney
World. This successful campaign allows for Disney to give back to
communities all over the United States as well as promoting the company.
Participating in philanthropy events does more for a company than just
promoting good business and helping those in surrounding communities.