Chamber Membership is Effective Business Strategy
A national survey* of 2,000 adults reveals that being active in a local chamber of commerce is an effective business strategy because two-thirds of consumers believe that such companies use good business practices, are reputable, care about their customers, and are involved in the community. If a company shows that it is highly involved in its local chamber (e.g., is a chamber board member), consumers are 10% more likely to think that its products stack up better against its competition.
Major Impact on Small Businesses
Small businesses represent the largest segment of most local chamber membership rolls, and the study indicates that chamber membership has consistent and powerful benefits for small business members. If respondents know that a small business is a member of its local chamber, the business enjoys:
- 49% increase in its consumer favorability rating
- 73% increase in consumer awareness
- 68% increase in its local reputation
- an 80% increase in the likelihood that consumers will patronize the business in the future.
* The study was conducted by The Schapiro Group, an Atlanta-based strategic consulting firm. It was commissioned by the American Chamber of Commerce Executives (ACCE), in cooperation with the Western Association of Chamber Executives. The study was sponsored by Insperity, a Houston-based company that provides human resources and other business services to more than 100,000 businesses nationwide.
Vertical Market Impacts:
When consumers know that a national 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
- 15% more likely to report knowing a lot about the franchise
- 58% more likely to eat at the franchise more often
- 37% more likely to think favorably of the franchise.
Among consumers who do not eat at the franchise so often, those who are aware that the franchise is a member of the chamber are 33% more likely to hold favorable opinions of the franchise. Among consumers who hold less favorable opinions of the restaurant franchise, those who are aware that the franchise is a member of the chamber are 65% more likely to eat there in the coming months.
When consumers know that an auto manufacturer is a member of the chamber of commerce, they are:
- 21% more likely to have a favorable opinion of that company
- 31% more likely to consider purchasing their next car from that company
Among those who have ever considered buying a car from a particular auto manufacturer, chamber membership leads to a 44% increase in consumers’ likelihood of purchasing a car there in the future.
When consumers know that an insurance company is a member of the chamber of commerce, they are:
- 29% more likely to report knowing a lot about the company
- 36% more likely to think favorably of the company
- 36% more likely to consider buying insurance from it.
- Among consumers who hold less favorable opinions of the insurance company, those who are aware that the company is a member of the chamber are 25% more likely to consider purchasing insurance from it.
Among those who have not considered purchasing insurance there in the past, chamber membership increases that likelihood by 37%.