Comments on: Doing Good in the Community Pays Dividends

By: dex

dex — Tue, 24 Mar 2009 12:37:04 +0000

I am a part of the Primerica Home Office. I am proud to say that the employees here do an outstanding job helping the community and people in need. The employees not only give of their time ... but also reach deep in their pockets to help those in need. http://www.askprimerica.com/

By: Michael Lombardi

Michael Lombardi — Wed, 26 Mar 2008 20:56:28 +0000

Lewis, I appreciate comment. It was really just a case of me mentioning there are more ways to be socially responsible without “tightening the belt.” As I said, it’s not something we even think about. We just did our taxes and didn’t even think about it (oops).
The key to money is not earning more than the next guy, it’s using it smarter than the next guy. Although, I certainly wouldn’t mind earning a little more.

By: Lewis Green

Lewis Green — Wed, 26 Mar 2008 19:29:20 +0000

Michael,
Your family’s contribution is huge. Imagine if every family that could donated $240/year in cash or products and services. A lot of good would come from that.

By: Michael Lombardi

Michael Lombardi — Wed, 26 Mar 2008 16:13:27 +0000

I agree with Ted. Big companies are “expected” to donate and when they don’t, they’re chastized. Small companies have a lot to gain from helping because people see the small company as struggling but putting social values first.
Slightly off topic, but I do recall being impressed when, as a teacher, one of my students pulled a $20 bill out and donated it to the cause d’jour. Which is funny, because I’ve worked for businesses that could do more good with $20 of raw materials (than a straight monetary donation) that didn’t donate them. It’s sad. That was actually one of the reasons I decided to leave that company.
Oh and a thought that just popped into my head: my wife’s employer (Fortune 500 company) has a United Way program setup to auto-deduct pretax donations. We donate something like $20 a month and hardly ever think about it because it comes out before we even get the check. $240 a year isn’t much, I realize that, but it’s comforting to know (when we think about it) that we are trying to be responsible. Hopefully next year one of us will increase our income and we’ll donate more.

By: Lewis Green

Lewis Green — Tue, 25 Mar 2008 15:08:36 +0000

Paul,
Correct as usual. When a business supports a cause and calls on employees to participate in that support, passion needs to be exhibited at the top for buyin to occur.
Ted,
You’re right. Small businesses often think doing good means writing a big check. Not so. Even my tiny firm does outreach with the local chambers. It’s very rewarding.

By: Ted Mininni

Ted Mininni — Tue, 25 Mar 2008 14:55:42 +0000

Nice post, Lewis. While many large corporate entities are involved in cause marketing, and they help support worthwhile organizations, there’s something quite meaningful about small businesses doing this. Especially when you can see that they’re not under pressure to “give back to their communities” as large enterprises are expected to, but choose to do it anyway. Good stuff, Lewis.

By: Paul Barsch

Paul Barsch — Tue, 25 Mar 2008 14:47:22 +0000

Lewis, enjoyed it as always. Cause related marketing is usually a good ROI when it is something that the CEO or business owner is passionate about, and something the customer can identify with–Yoplait was a fantastic example. Even better when the cause ties into “the brand”.
And as you pointed out, there’s more ROI than just financial to cause related marketing.