How Charitable Partnerships Can Boost a Brand’s Profile

We’ve talked before about the importance of community impact for businesses both large and small. In any community, there are a wide array of ways to get involved and help improve that community for those living and working in it.

Forming charitable partnerships is another way to get involved and improve the community around a business. Of course, businesses can provide support in ways that individuals cannot to a nonprofit or charity. But these partnerships should always be done with tact and taste — the opposite effect can easily happen if a move is done for seemingly ulterior motives.

Finding the Right Charitable Partnership

When selecting a charitable partnership for a business, there are many things to consider. One of these factors is what charity or nonprofit to partner with. Here are some considerations for this decision:

  •     Core values and mission of the business
  •     Nonprofits that align with these core values naturally
  •     Reputation of nonprofit and of the supporting business
  •     Required budget to support a charitable partnership
  •     End goal of charitable partnership

Core values lie at the heart of a business’ purpose. These values are important. They give consumers a look at the belief and value systems of those in executive positions, and they provide a roadmap of how a business conducts itself in public dealings.

With that in mind, it’s equally important for a business to align itself with a nonprofit that also values the same ideas. The purpose and mission of the nonprofit must also make sense. For example, a leather goods company may not look the best if it were to support PETA, nor would PETA be likely to accept their partnership proposal. This is, of course, an extreme example, but it shows that a partnership should be genuine, not self-serving or just “for looks”.

Forming a Charitable Partnership

Once a business has selected a nonprofit to enter into a partnership with, it’s time to figure out exactly what that partnership is going to look like.

Not every partnership has to look the same. Remember, this has to be a beneficial arrangement for both the business and, more importantly, for the nonprofit. Whether the support is financial, in the form of volunteer help, or other services provided, it’s important to set clear expectations and guidelines for the new partnership. Contracts are helpful in this situation, to protect all parties involved.

Before jumping in, take the time to form a strategy about how a business can best assist a nonprofit. Perhaps a marketing agency can offer its services to a local animal shelter each month. Or maybe an event planning portal can donate a portion of the proceeds to local community programs in an effort to create a safer neighborhood in which to host events. Maybe a local consultant can jump on board to help plan a fundraiser for a nonprofit. The possibilities are endless!

Finding creative ways to help out is important too — it doesn’t always have to just be about writing a big check. In fact, finding other ways to get involved is often even more helpful, especially for under-staffed nonprofits.

Aligning business with a nonprofit is a smart move for many reasons, but the biggest motivator should always be the betterment of community or the helping of others. From this motivation can come a great, fulfilling partnership on both sides.

Netflix Tops 125 Million Fans

The first time Netflix tried a price hike, its customers revolted, causing the company to rethink the idea. Recently, Netflix announced a rate increase, and tens of millions of fans barely blinked. Check that… more than 125 million subscribers shrugged. The streaming media company recently crested that milestone, and it looks to be climbing faster than ever.

According to recent reports, Netflix added more than 7 million subscribers in the first quarter of 2018, 50 percent more than they added in the first quarter of 2017. The increase has investors excited and other streaming companies scrambling to find a way to compete. Where once Netflix was vulnerable, depending almost entirely on content from other providers, some of the most popular Netflix properties these days are original programs. In that successful first quarter, Netflix released 18 original series, 11 new seasons of existing content, as well as 14 new movies. And that has CEO David Wells excited. CNN reports Wells telling analysts, “The business has grown faster than we expected… We outperformed in a way we didn’t expect…”

One of the reasons the success is “unexpected” comes from faster than expected growth overseas. Of the 7.4 million new subscribers, more than 5 million signed up outside the U.S., a smashing success for the company, especially in markets that had been considered big risks. So, what’s next for Netflix? More entertainment. The company has no interest, at least for now, in moving into the news sector. Likely a smart decision. The market is flooded, and the competition in that market is fierce, especially when so many traditional news outlets are struggling to find ways to stay profitable in an internet world. With all those complications, there’s no need for Netflix to move beyond what’s currently making it so successful, at least for now.

That’s not to say Netflix will only focus on original content. The company is still investing heavily in streaming content from other creators. In fact, news reports put that number somewhere around $18 billion in content deals, nearly 3 billion more than the previous year. And that brings us back to the rate hike. Netflix had to cover the cost of increased licensing fees and higher production costs. That necessitated more cash from subscribers. Prices went up about ten percent, an amount most subscribers hardly noticed, because Netflix is still offering much more than about ten bucks a month in value.

As long as Netflix continues to offer that kind of value for their money, customers will continue to pay… and they will continue to wonder if cutting the cord to cable makes more sense.

Ronn Torossian is the CEO of 5W Public Relations