In business, we primarily focus on strategies to increase revenue, build brand awareness and create new sales channels. While there are several common ways to accomplish this, one opportunity that is often overlooked is creating goodwill with future customers through philanthropy.

Not sure what philanthropic activities you can bring into your business? An easy strategy is to create a partnership with a local charity and pledge X% of your sales or certain services to members of that charity. Okay, I understand you may not want to give away money or time, but think about this. What’s it worth creating goodwill in the community, not to mention that local media outlets love covering philanthropic activities!

When choosing a charity partner, keep these in mind:

Make sure there is a fit between the charity and your business

• If you manufacture basketballs, give away free basketballs to an inner-city youth organization
• If you sell financial services, sponsor free financial help classes at a local community organization

There are pros and cons to choosing a religious charity

• Pros: Religious groups, such a church or synagogue can provide your business with access to more “charity loyal” customers
• Cons: The media probably won’t cover your activities

If you watched the World Series this year, you probably noticed lots of mentions about the Boys & Girls Clubs of America. This is Major League Baseball’s official charity and according to their website, they were looking at the best ways to prepare for the 21st century and fortify their relationship with youth. They must feel this works, as they’ve pledged more than $16 million in direct and indirect support to this organization.