We all know that this is the supposed “season of goodwill”. But what does that mean in the business world?
Can there be Correlation Between Goodwill and Business?
When we think of the season of goodwill (whether in a religious capacity or not) we perhaps think of traditions that have been around for years. The giving of gifts; thinking of others rather than ourselves; extending compassion to strangers. At first glance, this doesn’t necessarily correlate with the world of business and commerce. A place where the characteristics required for growth and prosperity aren’t always seen in a positive light.
The Good News
It’s not uncommon for businesses to experience a shift in consumer behaviour during this season. It could be characterised by heightened awareness of the misfortunes of others, resulting in increased support for community initiatives. Or it could be simply employees wishing to ‘do something for charity’.
Think of the advertising drive by major charities in the lead up to Christmas, which is ramped up dramatically and often leads to amazing results.
The Knock-on Effect
Companies can be encouraged by their employees at times like this, leading them to become more philanthropic. We see an increase in corporate charitable donations, customer appreciation events, and often social responsibility campaigns.
This could be seen as a move just to improve a company’s perception, rather than a genuine belief in the cause being supported. Regardless, customer loyalty is usually strengthened as a result of such campaigns. Why is that? Because people like a brand that demonstrates genuine concern for others, especially if it’s in their local community.
An Ideal Time to Reflect
The festive season is the ideal time for businesses large or small to reflect on their values and ethical practices. If they align marketing strategies with a theme of community support, kindness, and compassion, they will most likely enhance their reputation.
A Final Note
The season of goodwill can be the catalyst to fostering more trust and collaboration between businesses and communities. It can accentuate the importance of empathy in commercial endeavours. And it can also highlight how acts of kindness translate into tangible benefits that reach all corners of society and business. Benefits which can extend far beyond the short ‘season of goodwill’ as we know it.
We wish you the best of the season, however you celebrate (and even if you don’t).
Gill & Nikki xx
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