Many charities depend on fundraising for operational revenue. But, how many could be making more money if they invested in branding?
“Branding?” many ask. “We have a logo. What else is there?”
OMG… so much more! A charity’s brand is way more than a logo, colors, font styles, and its look. It represents every single touchpoint in the organization.
What does that really mean?
A new study shows which states have the most millionaires per capita. If you’re a fundraiser or in luxury sales, you’ll want to know if YOUR state is at the top of the list!
Last year, almost 5.2% of the US’ 119.2 million households had more than $1 million in investable assets, according to a study from Phoenix Marketing International (PMI). From 2006 through 2013, three different states have held the top rank, while one has lagged at the bottom each of those years save for 2012.
OK, I’ll tell you which one has held first place for the past three years - Maryland, with 7.7% of its households boasting at least $1 million in investable assets. That’s the highest figure recorded by PMI over the last 8 years of data.
Want to know where YOUR state stands? Continue reading
When my nonprofit marketing colleague, Nancy Schwartz of the Getting Attention blog, asked me to write about my dream for the nonprofit community this year, it didn’t take long to come up with one. In reality, I could write an entire book on the subject, but I narrowed it down to one dream.
My dream is for donors and nonprofit leaders to recognize that charitable organizations cannot thrive and live their missions without an investment mentality. During the economic downturn of the past few years, many nonprofits came to realize that they must compete with gazillions of competing messages for attention and donations. The “smarter” ones recognized that they couldn’t do that in a vacuum without investing something in marketing.
Marketing is NOT a frill, a luxury, or a waste of time. Marketing communication gets donors’ attention through multiple channels: e-mail, social media, print collateral, advertising, etc. If I had a dollar for every time I heard a fundraiser say, “We’re the best kept secret in town,” my bank account would be richer.
In so many ways, being the best kept secret is a sign of defeat. It means that the organization has no real strategy for generating revenue. Maybe it’s operating from hand to mouth. Maybe its plan is a wish and a prayer to stay alive for another year. Perhaps, it relies solely on event fundraising. But, is that a clever business move?
Operating a nonprofit is akin to running a business. It takes the same infrastructure as any business: physical location, employees, I.T., finance systems, and more. Ideally, each organization should have a business plan, marketing plan, and fundraising plan. Yet, many don’t.
Passion and dedication on their own cannot guarantee success. Investing in marketing the organization contributes to its brand awareness, sustainability, and growth. When donors learn about the mission, understand the value of the charity’s programs and services, and relate to the nonprofit’s stories of success, only then can the nonprofit build momentum.
This does not necessarily require big bucks either. There are countless inexpensive and yes, free ways to market a charitable cause.
Educating donors is everyone’s responsibility in the nonprofit sector. Apologizing for investing in marketing devalues its worth. Most consumers recognize that every product and service they purchase is a result of marketing. We need to help them understand that there is no difference in the nonprofit sector.
It’s a good time to reiterate one of my sayings:
No marketing, no money, no mission.
Let’s spread the word to charities and donors and help do some good!