Plugging into charities can drive market awareness
Most financial institutions are used to donation requests throughout the year from a large number of diverse and well-meaning charitable causes. Many contribute to a large number of these causes (which is not necessarily a negative thing). However, savvy financial institutions should look for some type of return on their charitable donations investment. This will come with some careful planning and consideration as you look for how to best impact your community:
Select each charity carefully
One way to do this is by limiting your available charitable funds to a few local charities or events (as opposed to spreading your budget-friendly across many causes which can water-down the impact of your donations). It’s not easy to say “no” to any deserving charity, but for a more lasting impact on your market awareness, it is wise to choose just a few in which to invest your donation budget.
Having said this, you must ensure that the few you choose are best-linked to your brand and your target markets. They must also tie into target markets in which you are interested. For example, if an important part of your brand is financial literacy for children and young adults, it makes sense to contribute to charitable causes which also focus on this age group.
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