The Real Value of Membership

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The Real Value of Joining a Local Chamber of Commerce

 

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. While there is plenty of evidence to show the impact of chambers of commerce on their communities, it is much harder to find data that quantify the impact of belonging to a chamber. A study, commissioned by the American Chamber of Commerce Executives with support from Small Business Network, Inc., is designed to do just that: determine the real value to companies in terms of consumer outcomes of joining and being active in their local chamber of commerce.

 

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

 

How Effectively Business Strategies Communicate Specific Traits about a Company

 

What a Local Chamber Membership Shows Consumers

Beliefs in Facts and Myths: The Chamber of Commerce…

 

For the full report, The Real Value of Joining a Local Chamber of Commerce A Research Study, click here

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