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January 25, 2007
Giving Leads to More Sales
Posted by Kevin D. Hendricks | Filed under: Research
For every $1 a company donates they can expect sales to go up by as much as $6, according to a new research report mentioned in The Chronicle of Philanthropy.
"Contributions have this advertising effect to them, this image-enhancing effect to them. What we see is giving goes up first and then we see the sales go up," said Christine Petrovits, an assistant professor of accounting at New York University Stern School of Business and a co-author of the report.
Companies that sell directly to consumers like retailers, finanical institutions and electronics manufacturers saw the most direct econcomic benefit from giving, but other companies also saw tangible benefits that had a less-direct economic component. The report advises businesses publicize their philanthropy to see the biggest return.
(link via Selfish Giving)
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