Study: Something Very Good for Your Company
I try not to use this space for self-promotional purposes like hawking Chamber events or glorifying the Chamber. Instead, I like to comment on issues or send you to resources that I think you’ll find interesting and useful.
What follows might seem like a departure from that. However, since it’s about helping your company be successful, I’ve relented. You see, it’s all about you!
The results of a national survey of 2,000 adults were released last week. It found that being active in a local chamber of commerce is an effective business strategy. Two-thirds of consumers said that companies that are members of chambers of commerce use good business practices, are reputable, care about their customers, and are involved in the community.
The study, conducted by The Schapiro Group, an Atlanta-based strategic consulting firm, found consumer perceptions of chamber members to be positive in many ways. For instance, when consumers know that a small business is a member of the chamber of commerce, they are 49 percent more likely to think favorably of it and 80 percent more likely to purchase goods or services from the company in the future.
The study indicates that chamber membership strongly benefits small business members if consumers are aware that the small business is involved with its local chamber.
Here’s another tidbit from the study: knowing that a company is a chamber member increases consumer favorability with young adults age 18-29 by 93 percent, the biggest increase of any age demographic. Why? The study doesn’t say, but perhaps it’s because they’ve spent their entire adult lives trying to sort out what’s real from what’s not in the virtual world. To 18-29 year olds, chamber membership is a solid indicator of credibility.93%
Anyway, there’s a lot more in the study in terms of specific business types and sizes, but the basic message is that in the eyes of the general public belonging to your local chamber of commerce makes you a more legitimate business. You can find the full report here.