Corporate giving has its rewards

Corporate philanthropy needs to be a year-round mission. Nonprofit organizations rely heavily on corporate donations, both in-kind and monetary, and they cannot survive on seasonal gifts alone.

Recent studies show that corporate giving in Wisconsin, while on the rise, continues to lag behind other markets of similar size. As business leaders, we need to realize that the nonprofits are not the only ones reaping the benefits. Our businesses can benefit as well.

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Investing in corporate giving programs can help us achieve what we work toward every day: strong customer loyalty. A 2001 Cone/Roper Cause Trends report revealed that 81 percent of respondents indicated they would switch brands or retailers to one associated with a good cause, when price and quality are equal. In highly competitive industries, that advantage can gain both customers and market share.

Corporate giving programs also offer companies an advantage in recruiting and retaining employees. According to a 2004 survey conducted by Harris Interactive, 72 percent of employed Americans would choose to work for a company that supports charitable causes when all other things are equal, and 87 percent of employees at companies with cause-related programs feel a stronger sense of loyalty to their employer.

At Verizon Wireless, we get our employees involved, strengthening personal and corporate ties to the community. Volunteerism promotes teamwork, and teamwork fosters success.

Creating a cause-related marketing program � or a marketing strategy linking purchases of a product with fundraising for a charity, project or cause � is a great way to establish and maintain a relationship between customer and brand. This active arm of corporate giving creates a mutually profitable outcome for businesses and charities. Cause-related marketing programs that are tied directly to business goals and objectives help to increase positive name recognition and build brand awareness. They give a face, name and personality to products and services.

If your business does not have a corporate giving program, establishing one is simple. First, choose a cause or charity to support and establish that as the philanthropic companywide focus. Find something that relates to your business, customers, services or products.

At Verizon Wireless, we focus on putting wireless services to work to combat domestic violence. Through our HopeLine program, wireless phones and equipment are collected from consumers and refurbished or recycled, with all proceeds benefiting domestic violence victims and advocacy organizations.

Last year alone, Verizon Wireless collected about 2 million phones through the HopeLine program and donated more than $1 million in HopeLine funds to organizations engaged in raising the awareness of domestic violence and its prevention.

Next, secure an annual giving budget that is a part of your company's financial plan. Also, establish a giving policy to help organize the direct requests your company receives. This will help prevent well-intentioned but often misguided funding of an organization or cause that does not fit within the scope of your program.

And finally, get involved. Corporate giving consists of more than simply writing a check. It is a way for you and your business to connect with consumers. It is a way for you to give a gift that will give back to you.