The Real Value of Joining

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The Real Value of Joining

According to The Schapiro Group's research study, The Real Value of Joining a Local Chamber of Commerce, chamber advocates 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. However, this research study wanted concrete numbers to prove the impact of joining your local chamber can have on your business. These were the results.

Study Overview

  • 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 (e.g., sits on the chamber board), 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. 

Chamber Membership as a Business Strategy

Consumers say that being involved in the local chamber is,

  • 29% more effective for communicating that a company uses good business practices
  • 26% more effective for representing themselves as a reputable business
  • 13% more effective for communicating that a company cares about its customers
  • 12% more effective for showcasing their community involvement

Impact on Small Businesses

Overall

  • 44% increase in consumer favorability
  • 51% increase in consumer awareness
  • 57% increase in local reputation
  • 63% increase in likelihood of future partonage

Region: South

  • 45% increase in consumer favorability
  • 43% increase in consumer awareness
  • 82% increase in local reputation
  • 82% increase in likelihood of future patronage

Impact on Large Businesses

Impact on Large Restaurant Chains

  • When consumers know that a restaurant franchise is a member of the chamber of commerce, they are 50% more likely to eat at the franchise more often.
  • Among consumers who already know about a particular restaurant franchise, those who are aware that it is a member of the chamber are 38% more likely to eat at the franchise in the next few months. Among those who are less knowledgeable about the franchise, chamber membership increases the likelihood by 76%.

Impact on Insurance Companies

  • When consumers know that an insurance company is a member of the chamber of commerce, they are 39% more likely to know a lot about the company.
  • 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.

Impact on Automobile Manufacturers

  • Among consumers who have favorable opinions of an auto manufacturer, chamber membership leads to a 10% increase in the likelihood that they report knowing a lot about the company.
  • Among those who have ever considered buying a car from a particular auto manufacturer, chamber membership leads to a 20% increase in consumers' favorability reports.
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