Study Supports Business Benefit of Chamber Investment
Chambers of Commerce have long been known for having a direct impact on the community and now, there is statistical evidence that supports chamber investment. Backed by the American Chamber of Commerce Executives, The Shapiro Group recently did a study to unearth data to quantify the impact of belonging to a chamber. The study focused on several aspects of business – business strategy, reputation of the business, and the impact that being a member will have on small and large business. The result is in our favor. The study indicates that chamber membership/investment strongly benefits small business members – if consumers are aware that the small business is involved with its local chamber.
A sampling of some results direct from the survey proves this to be the case.
- Being active in the local chamber of commerce is an effective business strategy. It communicates to consumers that a company uses good business practices, is reputable, cares about its customers, and is involved in its community.
- If a company shows that it is highly involved in its local chamber (e.g., sits on the chamber board), consumers are 10% more likely to think that its products stack up better against its competition.
- When a consumer thinks more favorably of a company because the company is highly involved in its local chamber of commerce, it is because he or she infers that the company is trustworthy and cares about its customers.
- When consumers know that a restaurant franchise is a member of the chamber of commerce, they are 68% 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 36% more likely to think favorably of the company.
- When consumers know that a small business is a member of the chamber of commerce, they are 49% more likely to think favorably of it and 80% more likely to purchase goods or services from the company in the future.
- The positive impacts of chamber membership have remained the same and even increased over time.
Over time, the positive impacts of having a chamber membership can play a large role on the development of a business. For these reasons, joining a chamber of commerce is a highly beneficial move, not only for the businesses but for the community as well. You can find the full Shapiro study online here.
The Miramar Pembroke Pines Regional Chamber of Commerce offers investors a wide variety of benefits that will help grow your business. These benefits include visibility to target audiences, opportunities for networking with other businesses and resources on how to make your business goals become realities. What possibilities could joining the Miramar Pembroke Pines Regional Chamber of Commerce unleash for your company?