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Chamber Membership as a Business Strategy - Tuesday, September 20, 2011
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It's generally accepted that when a company is active in the Chamber of Commerce, it is doing the right thing not only for the community but for its own success as well. According to a study by the Schapiro Group commissioned by the American Chamber of Commerce Executives:
- 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.
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If a company shows that it is highly involved in its local chamber (e.g., sits on the chamber board), consumers are 12% more likely to think that its products stack up better against its competition.
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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.
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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.
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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.
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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.
If you're not a member, contact the Lafayette Chamber at 337-233-2705.
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