Advocates of chambers of commerce have long believed that when a company is active in its local chamber, it is doing the right thing not only for the community but for its own success as well. The many programs, seminars, quality of life events sponsored by chambers are obvious benefits to the community.
A study commissioned by the American Chamber of Commerce Executives with support from Small Business Network, Inc. indicates the value to companies in terms of consumer outcomes of joining and being active in their local chamber of commerce.
Data for the study came from a scientific web-based survey of 2,000 adults nationwide. Below are some of the findings:
- Most consumers (59%) think that being active in the local chamber of commerce is an effective business strategy overall. It is 29% more effective, however, for communicating to consumers that a company uses good business practices and 26% more effective for communicating that a business is reputable.
- If a company shows that it is highly involved in its local chamber, consumers are 12% more likely to think that its products stack up better against its competition. When a consumer thinks that a company’s products stack up better against the competition because the company is highly involved in its local chamber of commerce, it is because he or she infers that the company is trustworthy, involved in the community, and is an industry leader.
- When consumers know that a restaurant franchise is a member of the chamber of commerce, they are 40% more likely to eat at the franchise in the next few months.
- When consumers know that an insurance company is a member of the chamber of commerce, they are 43% more likely to consider buying insurance from it.
- When consumers know that a small business is a member of the chamber of commerce, they are 44% more likely to think favorably of it and 63% more likely to purchase goods or services from the company in the future.
- This survey reveals that active membership in the chamber is making specific impressions on consumers. Joining the local chamber is good strategy. It is an effective way to convey to consumers that a company uses good business practices, is involved in the community, cares about customers, and is reputable – regardless of whatever they may or may not already think about the company.
- Being an active chamber member demonstrates a more effective way of communicating that the company uses good business practices than if the company makes statements about what they do. The only other business strategy that so consistently communicates specific traits about a company is encouraging employees to volunteer their time.
Joining the chamber of commerce is good for a company’s image, reputation, and has a positive influence on the consumer.
Join the Altavista Area Chamber of Commerce today!