Tips to Improve Marketing
Marketing a Fundraising Business
Marketing plays a central role in any company. But when it comes to a fundraising business, your ability to market your brand can be the deciding factor between barely making it and achieving stellar industry success.
The marketing model for a fundraising business has historically adapted to changes in consumer buying patterns and the market itself.
Messaging that relies on outdated delivery channels is often a waste of time and resources. You'll also need to incorporate creativity, common sense, and flawless execution into your marketing routines.
Marketing Consultants
In a tight economy, there are many places to cut corners in your business - but marketing shouldn't be one of them. The amount you pay a marketing consultant is an investment in your company's revenue stream. By hiring a consultant or marketing firm, you will improve your fundraising business' core competencies, value and product points. Without the presence of an experienced professional, it's easy to miss opportunities in the marketplace and focus your efforts on outdated tactics. As we continue to experience changes in the fundraising business industry, exposing your strategy to the influence of capable marketing professional should be a top priority.
Social Media Monitoring
Brand advocacy is a buzzword in marketing circles. What does it mean? Using consumer-oriented platforms to encourage customers to create user-generated content about your products and company, typically through social media. Social media can quickly go negative, turning brand advocacy into "badvocacy", a scenario in which consumers and users create content deriding your company and your products. All fundraising businesses need to be particularly sensitive about the potential for negative brand commentary on social media sites. To counter negative social media, you'll need to monitor your brand's online presence and enter the conversation, redirecting negative discussions toward more positive topics.
Cost Tracking
The economy is a constant concern for people who own a fundraising business. You can't afford to waste money on inferior marketing resources. Since every dollar counts, it pays to buy mailing lists from trusted vendors. Good mailing lists are money in the bank; they deliver leads, revenue and most importantly, new customers.
Another way to control costs is to conduct periodic across-the-board cost audits designed to highlight areas that are ripe for reductions.
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